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8447-93 Authorizing Economic Development Revenue (P.A.I. Properties $450,000)
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8447-93 Authorizing Economic Development Revenue (P.A.I. Properties $450,000)
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Last modified
3/21/2013 4:21:19 PM
Creation date
10/1/2012 1:26:24 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8447-93
Bill Number
107-93
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"Commission" means the South Bend Economic Development <br /> Commission, an economic development commission created by the <br /> Issuer. <br /> "Completion Date" means the date of completion of the Project, <br /> as that date is certified to the Trustee as provided in Section <br /> 3 .20 hereof. <br /> "Construction Fund" means the Construction Fund established by <br /> Section 403 of the Indenture. <br /> "Costs of Construction" with respect to the Project shall be <br /> deemed to include those items included in Section 29 of the Act <br /> including, but not limited to: <br /> (i) obligations of Issuer or of Borrower incurred for <br /> labor and materials (including obligations payable to <br /> Borrower) in connection with the Project; <br /> (ii) the cost of contract bonds and of insurance of all <br /> kinds that may be required or necessary during the course of <br /> the Project; <br /> (iii) all costs and expenses of site preparation, <br /> engineering services, including the costs of Issuer or <br /> Borrower for test borings, surveys, estimates, plans and <br /> specifications and preliminary investigation therefor, and for <br /> supervising construction, as well as for the performance of <br /> all other duties required by or consequent upon the proper <br /> completion of the Project; <br /> (iv) all costs and expenses incurred in connection with <br /> the issuance of the Bonds for the purpose of providing funds <br /> for the Project, including without limitation compensation and <br /> expenses of Trustee, underwriting and legal expenses of <br /> Trustee, underwriting and legal expenses and fees, costs of <br /> printing and engraving, recording and filing fees; <br /> (v) all costs and expenses which Issuer or Borrower <br /> shall be required to pay, under the terms of any contract or <br /> contracts, for the Project; <br /> (vi) any sums required to reimburse Issuer or Borrower <br /> for advances made by either of them for any of the above items <br /> or for any other costs incurred and for work done by either of <br /> them which are properly chargeable to the Project; and <br /> (vii) interest on the Series 1993 Bonds during <br /> construction of the Project. <br /> "Counsel" means an attorney duly admitted to practice law <br /> before the highest court of any state and, without limitation, may <br /> include legal counsel for either the Issuer or the Borrower. <br /> -6- <br />
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