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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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11/28/2018 12:57:51 PM
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11/28/2018 12:57:12 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/26/2018
Ord-Res Number
10632-18
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such Debt Service Fund Credit Facility, in a Rating Category that is at least as high as the rating <br /> assigned to the Bonds (to which Debt Service Fund Credit Facility relates) by the Rating Agency <br /> or Rating Agencies then maintaining a rating on the Bonds. <br /> "Debt Service Reserve Fund" means the Debt Service Reserve Fund created and <br /> established pursuant to Section 4.2 of this Indenture. <br /> "Debt Service Reserve Fund Credit Facility" means any letter of credit, revolving credit <br /> agreement, surety bond, insurance policy or other agreement or instrument issued or provided by <br /> a Credit Provider, (i) which may be deposited in a reserve account in the Debt Service Reserve <br /> Fund in lieu of or in partial substitution for cash or Qualified Investments to be on deposit <br /> therein, and (ii) which shall be payable (upon the giving of notice as required thereunder) on any <br /> due date on which moneys will be required to be withdrawn from such reserve fund in which <br /> such Debt Service Reserve Credit Facility is deposited and applied to the payment of the <br /> principal of or interest on any Bonds. <br /> "Debt Service Reserve Fund Reimbursement Obligation" shall mean any obligation to <br /> reimburse the Credit Provider of any Debt Service Reserve Fund Credit Facility for any payment <br /> made under such Debt Service Reserve Fund Credit Facility or any other obligation to repay any <br /> amounts (including, but not limited to, fees or additional interest) to the Credit Provider. <br /> "Debt Service Reserve Requirement" means an amount equal to but not in excess of the <br /> least of(i) the maximum annual principal and interest payments on the Bonds; (ii) 10% of the <br /> par amount of the Bonds; or(iii) 125%of the average annual principal and interest on the Bonds. <br /> "Depository Company" or "Depository" means The Depository Trust Company, New <br /> York, New York, and its successors and assigns, including any surviving, resulting or transferee <br /> Public Library, or any successor Public Library that may be appointed in a manner consistent <br /> with this Indenture and shall include any direct or indirect participants of The Depository Trust <br /> Company. <br /> "District"means the City of South Bend Redevelopment District. <br /> "Economic Development Commission" means the South Bend Economic Development <br /> Commission. <br /> "Event of Default" means those events of default specified in and defined by Section 7A <br /> hereof. <br /> "Expense Fund"means the Expense Fund created and established pursuant to Section 4.2 <br /> of this Indenture. <br /> "Financing Agreement" means the Financing Agreement, dated as of 1, 20_, <br /> between the Public Library and the Issuer and all amendments and supplements thereto. The <br /> Issuer has delivered a copy of such Financing Agreement to the Trustee. <br /> "Governmental Obligations" means bonds, notes, certificates of indebtedness, treasury <br /> bills or other securities constituting direct obligations of, or obligations the timely payment of the <br /> principal of and the interest on which are fully and unconditionally guaranteed by, the United <br /> 5 <br />
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