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60-18 Bond Financing for the Community Center Project
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60-18 Bond Financing for the Community Center Project
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Last modified
11/7/2018 2:09:11 PM
Creation date
11/7/2018 2:08:28 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/12/2018
Bill Number
60-18
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ARTICLE I <br /> DEFINITIONS AND EXHIBITS <br /> Section 1.1. Terms Defined. Capitalized terms used in this Financing Agreement that are <br /> not otherwise defined herein, shall have the meanings provided for such terms in the Indenture. <br /> As used in this Financing Agreement, the following terms shall have the following meanings <br /> unless the context clearly otherwise requires: <br /> "Act"means, collectively, Indiana Code 36-7-11.9 and 36-7-12. <br /> "Allocation Area" means the River West Economic Development Area Allocation Area <br /> previously established by the Redevelopment Commission in accordance with IC 36-7-14-39 for <br /> the purposes of capturing incremental ad valorem real property taxes levied and collected on all <br /> taxable property in such allocation area. <br /> "Bondholder"or"owner of a Bond"or any similar term means the owner of any Bond. <br /> "Bond Fund" means the Bond Fund to be created and established by Section 4.2 of the <br /> Indenture. <br /> "Bond Ordinance" means Ordinance No. 10613-18, adopted by the Common Council on <br /> September 24, 2018, authorizing the issuance of the Series 20_Bonds to finance the costs of the <br /> Project and pledging the Pledged Revenues to the payment of the principal of and interest on the <br /> Bonds. <br /> "Bond Proceeds"means an amount equal to $4,800,000 (which equals the face amount of <br /> the Bonds plus original issue premium of $346,188.80, less an underwriter's discount of <br /> $11,778.40, less costs of issuance of the Bonds ($63,900) and less an amount used to pay for <br /> purchase a debt service reserve surety policy to satisfy the requirements of the debt service <br /> reserve fund under the Indenture ($7,932.00)) to be provided for out of the proceeds of the <br /> Bonds, plus investment earnings, all of which will be made available to the Public Library, <br /> pursuant to the terms of this Financing Agreement and the Indenture, to pay for Eligible Costs. <br /> "City Parties" means, collectively, (a) the Issuer and the Economic Development <br /> Commission, and the Redevelopment Commission, and their successors and assigns, (b) any <br /> financial advisor or legal counsel to any entity listed in subclause (a) hereof, (c) the underwriter <br /> for the Bonds, (d) the owners of the Bonds (beneficial or otherwise), and(e) the Trustee. <br /> "Code" means the Internal Revenue Code of 1986, as amended, the regulations (whether <br /> proposed, temporary, or final) promulgated thereunder or the statutory predecessor thereof, and <br /> any amendments of, or successor provisions to, the foregoing and any official rulings, <br /> announcements, notices, procedures, and judicial determinations, regarding any of the foregoing. <br /> "Construction Fund"means the Series 20_Construction Fund established by Section 4.5 <br /> of the Indenture. <br /> "Disbursement"means the transfer of all or any portion of Bond Proceeds by the Trustee <br /> from the Construction Fund to the Public Library to fund Eligible Costs approved by the City. <br /> 2 <br />
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