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05-22-2017 Packet
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05-22-2017 Packet
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"Qualified Investments" shall have the meaning assigned in the Financing Agreement. <br /> "Record Date" means the fifteenth day preceding any Interest Payment Date. <br /> "Redevelopment Commission" means the South Bend Redevelopment Commission. <br /> "Requisite Bondholders" means the holders of 66 2/3% in aggregate principal amount of <br /> Bonds. <br /> "Series 2017 Bonds" means City of South Bend, Indiana Taxable Economic <br /> Development Revenue Bonds, Series 2017 (Studebaker Project) in the aggregate principal <br /> amount of$3,500,000. <br /> "Tax Increment" means all property taxes generated from the incremental assessed value <br /> of real and depreciable personal property tax proceeds of designated taxpayers located in the <br /> Allocation Area. <br /> "TIF Pledge Resolution" means the resolution of the Redevelopment Commission <br /> adopted on May 25,2017,pledging TIF Revenues to the Issuer. <br /> "TIF Revenues" means $3,500,000 of Tax Increment funds on hand generated in the <br /> Allocation Area and currently held in the Allocation Fund (as described in the TIF Pledge <br /> Resolution), which moneys are to be separated from all other moneys in said Fund as of the day <br /> of closing and pledged to the Issuer for payment of the Bonds pursuant to the TIF Pledge <br /> Resolution. <br /> "Trust Estate" means the funds and accounts, TIF Revenues and other assets described in <br /> the Granting Clause of this Indenture. <br /> "Trustee" means 1 st Source Bank, South Bend, Indiana the party of the second part <br /> hereto, and any successor trustee or co-trustee. <br /> "Trustee Fees" means the acceptance fee and annual fees of the Trustee. <br /> Section 1.2. Rules of Interpretation. For all purposes of this Indenture, except as <br /> otherwise expressly provided or unless the context otherwise requires: <br /> (a) "This Indenture" means this instrument as originally executed and as it may from <br /> time to time be supplemented or amended pursuant to the applicable provisions hereof. <br /> (b) All references in this instrument to designated "Articles," "Sections" and other <br /> subdivisions are to the designated Articles, Sections and other subdivisions of this instrument as <br /> originally executed. The words "herein," "hereof' and "hereunder" and other words of similar <br /> import refer to this Indenture as a whole and not to any particular Article, Section or other <br /> subdivision. <br /> (c) The terms defined in this Article have the meanings assigned to them in this <br /> Article and include the plural as well as the singular and the singular as well as the plural. <br /> - 12 - <br /> 1\11860514.2 <br />
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