1992-06-18 Resolution 56 - Laserfiche WebLink

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payment of the principal of and the interest on which are fully and unconditionally guaranteed by, the United States of America or any agency or instrumentally thereof when such obligations are backed by the full faith and credit of the United States of America. (k) "Lease" means the lease by the Authority to the Commission, dated as of March 1, 1992, as the same may be amended or supplemented. (1) "Operation and Reserve Fund" means the Operation and Reserve Fund created and established by Section 3.02. (m) "Pledged Funds" means (i) the proceeds from the sale of Bonds; (ii) the rentals to be received under the Lease; and (iii) all moneys and securities from time to time held by the Trustee under the terms of this Agreement (except moneys or securities held in accounts to pay for Bonds called for redemption or with respect to which irrevocable instructions to redeem have been given to the Trustee), including without limitation the moneys held in trust funds. (n) "Qualified Securities" means investments in: (i) Government Obligations; (ii) certificates of deposit issued by banks and mutual savings banks incorporated under the laws of the State of Indiana and in national banking associations having their principal banking offices in the State of Indiana, including the Trustee, provided such certificates of deposit do not exceed in the aggregate ten percent (10%) of the combined capital, surplus and undivided profits of any such bank or association and that each such bank or association has a combined capital and surplus of at least $25,000,000; and provided further that such certificates of deposit are insured by the Federal Deposit Insurance Authority or the Federal Savings and Loan Insurance Authority or, to the extent not so insured, collateralized by interest-bearing obligations described in clause (i) above in which the Trustee has a perfected security interest; or (iii) repurchase agreements, entered into with banks and mutual savings banks incorporated under the laws of the State of Indiana and in national banking associations having their principal banking offices in the State of Indiana, including the Trustee, -that are fully collateralized by interest-bearing obligations described in clause (i) above based upon the market value of such obligations on the day such agreement becomes effective, in which the Trustee has a perfected security interest. (o) "Project" means the real estate (including all right-of-way easements contained therein) in South Bend, Indiana, all as described in Exhibit A hereto, acquisition of which Project is to be financed with the proceeds of the Bonds and leased to the Commission, pursuant to the Lease. • -4-