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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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States of America or any agency or instrumentally thereof when such obligations are backed by <br /> the full faith and credit of the United States of America. <br /> "Indenture"means this Indenture as originally executed or as it may from time to time be <br /> amended or supplemented pursuant to Article IX. <br /> "Interest Payment Date" means, with respect to any Bonds, each February 1 and August <br /> 1, commencing 1, 20_. <br /> "Issuer" or "City" means the City of South Bend, Indiana, a municipal Public Library <br /> organized and validly existing under the laws of the State. <br /> "Net Proceeds" means the proceeds received from the sale of Series 20 Bonds less any <br /> underwriting or other discount. <br /> "Opinion of Bond Counsel" means a written opinion of Bond Counsel which opinion is <br /> acceptable to the Issuer and the Trustee. <br /> "Paying Agent" shall mean any bank or trust company at which principal of the Bonds is <br /> payable,which initially is , in , Indiana. <br /> "Pledged Revenues" means the property tax proceeds received by the Redevelopment <br /> Commission generated by parcels in the Allocation Area and pledged to the Issuer pursuant to <br /> the TIF Pledge Resolution which proceeds are derived from the assessed valuation of real <br /> property in the Allocation Area in excess of the assessed valuation described in IC 36-7-14- <br /> 39(b)(1), as such statutory provision exists on the date of execution of this Indenture. <br /> "Project" means the construction and equipping of an approximately 38,000 square foot <br /> building for use as a community and education center to provide new and expanded flexible <br /> spaces for community meetings and training, events, and conferences and a larger auditorium to <br /> meet increasing demand for program space and allow for a more diverse range of programs and <br /> community events, and any other projects and improvements related thereto. <br /> "Public Library" shall mean the St. Joseph County Public Library, St. Joseph County, <br /> Indiana. <br /> "Qualified Investments" shall mean any of the following to the extent permitted by law: <br /> (i) Governmental Obligations; (ii) money market funds, which may be funds of the Trustee, the <br /> assets of which are obligations of or guaranteed by the United States of America and which <br /> funds are rated at the time of purchase "AAAm-G" or higher by Standard & Poor's Ratings <br /> Services, Inc. and/or "Aaa" by Moody's Investors Service, Inc.; (iii) bonds, debentures, notes or <br /> other evidence of indebtedness issued or guaranteed by any of the following federal agencies: <br /> Export-Import Bank, Farmers Home Administration, Federal Financing Bank, Federal Housing <br /> Administration, Government National Mortgage Association, Maritime Administration, Public <br /> Housing Authorities, Banks for Cooperatives, Federal Farm Credit Banks, Federal Intermediate <br /> Credit Bank, Federal Home Loan Bank and Federal Land Bank; (iv) certificates of deposit, <br /> savings accounts, deposit accounts or depository receipts of a bank, savings and loan <br /> associations and mutual savings banks, including the Trustee, each fully insured by the Federal <br /> Deposit Insurance Public Library; (v) bankers' acceptances, savings accounts, deposit accounts <br /> 6 <br />
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