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1990-12-17 Resolution 26
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1990-12-17 Resolution 26
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7/17/2008 2:02:19 PM
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• (1) "Operation and Reserve Fund" means the Operation and <br />Reserve Fund created and established by Section 3.03. <br />(m) "Pledged Funds" means (i) the proceeds from the sale <br />of Bonds; (ii) the rentals to be received under the Lease; and <br />(iii) all moneys and securities from time to time held by the <br />Trustee under the terms of this Agreement (except moneys or <br />securities held in accounts to pay for Bonds called for redemption <br />or with respect to which irrevocable instructions to redeem have <br />been given to the Trustee), including without limitation the moneys <br />held in trust funds. <br />(n) "Project" means the real estate (including all <br />right-of-way easements contained therein) in South Bend, Indiana, <br />and improvements to be made thereon by the Authority or its agent <br />all as described in Exhibit A hereto, which Project is to be <br />financed with the proceeds of the Bonds and leased to the <br />Commission, pursuant to the Lease. <br />(o) "Qualified Securities" means investments in: (i) <br />Government Obligations; (ii) certificates of deposit issued by <br />banks and mutual savings banks incorporated under the laws of the <br />State of Indiana and in national banking associations having their <br />principal banking offices in the State of Indiana, including the <br />Trustee, provided .such certificates of deposit do not exceed in the <br />aggregate ten percent (10~) of the combined capital, surplus and <br />. undivided profits of any such bank or association and that each <br />such bank or association has a combined capital and surplus of at <br />least $25,000,000; and provided further that such certificates of <br />deposit are insured by the Federal Deposit Insurance Authority or <br />the Federal Savings .and Loan Insurance Authority or, to the extent <br />not so insured, collateralized by interest-bearing obligations <br />described in clause (i) above in which the Trustee has a perfected <br />security interest; or (iii) repurchase agreements, entered into <br />with banks and mutual savings banks incorporated under the laws of <br />the State of Indiana and in national banking associations having. <br />their principal banking offices in°the State of Indiana, including <br />the Trustee, that are fully collateralized by interest-bearing <br />obligations described in clause (i) above based upon the market <br />value of such obligations on the day such agreement becomes <br />effective, in which the Trustee has a perfected security interest. <br />(p) "Redemption Price," with respect to the Bonds <br />outstanding under this Agreement, means the price at which the <br />Bonds are redeemable as set forth in Article IV of this Agreement. <br />(q) "Sinking Fund" means the Sinking Fund created and <br />established by Section 3.02. <br />. -4- <br />
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