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1992-09-10 Resolution 64
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1992-09-10 Resolution 64
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7/23/2008 2:11:07 PM
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/ ) <br />t 1 <br />agency or instrumentally thereof when such obligations are backed <br />by the full faith and credit of the United States of America. <br />(k) "Lease" means the lease by .the Authority to the <br />Commission, dated as of July 1, 1992, as the same may be amended <br />or supplemented. <br />(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 />-4- <br />
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