12-13-2021 FINAL Packet - Laserfiche WebLink

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4 “Construction Fund” means the Series 2022 Construction Fund established by Section 4.5 of the Indenture. “Corporation” means Potawatomi Zoological Society, Inc., an Indiana non-profit corporation, together with each of its successors and assigns under Sections 3.2 and 6.4 hereof. “Disbursement” means the transfer of all or any portion of Bond Proceeds by the Trustee from the Construction Fund to the Corporation to fund Eligible Costs approved by the City. “Disbursement Request” means any request from the Corporation to the Trustee for a Disbursement, which request is subject to the prior written approval of the City. The form of Disbursement Request is attached as Exhibit B to the Indenture. “Economic Development Commission” means the City of South Bend Economic Development Commission. “Eligible Costs” means the costs of the Project specifically described in the Disbursement Requests approved by the City. “Indenture” means the Trust Indenture, dated as of March 1, 2022, by and between the Issuer and the Trustee, authorizing and securing the Series 2022 Bonds. “Issuer” or “City” means the City of South Bend, Indiana, a municipal corporation duly organized and validly existing under the laws of the State. “Lease” means the Lease, dated as of December 1, 2021, between the Building Corporation, as lessor, and the Commission, as lessor, and all supplements and amendments thereto “Lease Rentals” means the lease rentals paid by the Commission, as lessee under the Lease. “Pledged Revenues” shall have the meaning set forth in the Indenture. “Project” means the construction, renovation, equipping, furnishing and improving of the Potawatomi Zoo, located at 500 South Greenlawn Avenue within the City (the “Zoo”), including, without limitation, all or any portion of the following: (i) the renovation, construction and equipping of a new lion habitat to include a new rock façade, new fencing and a new visitor viewing area; (ii) the construction, equipping and furnishing a new concession and dining facility in the North American portion of the Zoo, permitting visitors to view a newly constructed black bear habitat which will permit the introduction of a new species for the Zoo; (iii) replacement of the existing corporate and family picnic area with a new covered pavilion along with a new kitchen area and new fencing, pathways and storage areas; (iv) renovation of the North American animal habitats to meet modern Zoo standards including without limitation the construction and equipping of a new holding barn in the center and the installation of new fencing and habitat esthetics; and (v) the construction and equipping of a new Tiger habitat to meet current accreditation standards for zoos which will include the construction of a new, modern habitat within a portion of Potawatomi Park land not currently being utilized by the Zoo.