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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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5/5/2022 3:20:12 PM
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5/4/2022 5:05:05 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/9/2022
Bill Number
20-22
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<br />4 <br /> <br />payment of the purchase price of or the principal of and interest on the Project Bonds or Beneficial <br />Ownership Interests; and provided further, however, that <br />(i) if the principal of the Bonds and the interest due or to become due <br />thereon together with any premium required by redemption of any of the Bonds prior to <br />maturity shall be well and truly paid, at the times and in the manner to which reference is <br />made in the Bonds, according to the true intent and meaning thereof, or the outstanding <br />Bonds shall have been paid and discharged in accordance with Article IX hereof, and <br />(ii) if all of the covenants, agreements, obligations, terms and conditions <br />of the Issuer under this Indenture shall have been kept, performed and observed and there <br />shall have been paid (or provided for) to the Trustee, the Bank, and the Confirming Bank, <br />if any, all sums of money due or to become due to them in accordance with the terms and <br />provisions hereof, <br />this Indenture and the rights assigned hereby shall cease, determine and be void, except as provided <br />in Section 9.03 hereof with respect to the survival of certain provisions hereof; otherwise, this <br />Indenture shall be and remain in full force and effect. <br />All Bonds issued hereunder and secured hereby are to be issued, authenticated and <br />delivered, and all Revenues assigned hereby are to be dealt with and disposed of, as provided in <br />this Indenture. The Issuer has agreed and covenanted, and agrees and covenants with the Trustee <br />and with each and all Holders, as follows: <br />ARTICLE I <br />DEFINITIONS <br />Section 1.01. Definitions. In addition to the words and terms defined elsewhere in this <br />Indenture, the words and terms defined in this Section shall have the meanings herein specified <br />unless the context or use clearly indicates another or different meaning or intent. Those words and <br />terms not expressly defined herein and used herein with initial capitalization where rules of <br />grammar do not otherwise require capitalization, or which are otherwise defined terms under the <br />Agreement, as hereinafter defined, shall have the meanings assigned to them in the Agreement. <br />“Acknowledgment” means the Acknowledgment and Agreement, dated as of October 22, <br />2009, among the Issuer, the Original Borrower and the Confirming Bank. <br />“Act” means Indiana Code 36-7-11.9 and 36-7-12, as amended, or any successor statute, <br />in effect from time to time. <br />“Additional Bonds” means Bonds which may be issued under Section 2.10 of this <br />Indenture. <br />“Additional Notes” means any nonnegotiable promissory note or notes, in addition to the <br />Project Note, delivered by the Borrower to the Trustee in connection with the issuance of <br />Additional Bonds, as provided in the Agreement.
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