1994-05-17 Resolution 91 - Laserfiche WebLink

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• (k) "Depository" means [name of depository], and its successor and assigns, and includes any direct or indirect participant of [name of depository]. (1) "Government Obligations" means bonds, notes, certificates of indebtedness, treasury bills or other securities constituting direct obligations of, or obligations the timely 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. (m) "Lease" means the lease by the Authority to the Commission, dated as of November 1, 1994, as the same may be amended or supplemented. (n) "Municipal Bond Insurance Policy" means the municipal bond insurance policy issued by [name of issuer] insuring the payment when due of the principal of and interest on the Current Interest Bonds and the Maturity Amount of the Capital Appreciation Bonds as provided therein. (o) "Operation and Reserve Fund" means the Operation and Reserve Fund created and established by Section 3.03. (p) "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. (q) "Project" means the real estate (including all right -of -way easements contained therein) in South Bend, Indiana, and improvements to be made thereon by the Authority or its agent, all as described in Exhibit A hereto, which Project is to be financed with the proceeds of the Bonds and leased to the Commission, pursuant to the Lease. (r) "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 0 -4-