1992-06-23 Resolution 57 - Laserfiche WebLink

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• AGREEMENT NOW, THEREFORE, in consideration of the premises set forth in the Recitals above and the mutual covenants and agreements herein contained, the Authority and the Trustee agree as follows: Section 1. Definitions. In addition to the terms hereinafter defined, the following terms mean: (a) "Aggregate Debt Service" means, as of any date, the sum of the Annual Debt Service then remaining unpaid in the current year and all future years, as shown at Exhibit A attached hereto. (b) "Agreement" means this Irrevocable Escrow Deposit Agreement. (c) "Annual Debt Service" means, in any year, the principal Qf and interest on the 1988 Bonds coming due in such year, and the principal of and premium, if any, with respect to any 1988 Bonds called for redemption in such year, as shown at Exhibit A attached hereto. (d) "Escrow Fund" means the fund established and held by the Escrow Trustee pursuant to this Agreement, in which a portion of the proceeds derived from the sale of the 1992 Bonds will be deposited for payment of the 1988 Bonds. (e) "Escrow Requirement" means, as of any date, the amount of the Governmental Obligations required to be on deposit in the Escrow Fund which, together with the interest to be earned thereon, will be sufficient to pay the Aggregate Debt Service. (f) "Governmental Obligations" means investments in: (i) direct obligations of, or obligations the principal and -4-