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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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"Authorizing Instrument(s)" shall mean the separate trust indenture(s)of the Participant <br /> entered into with a corporate trustee or the detailed resolution(s) or ordinance(s) of the governing <br /> body of the Participant pursuant to which the Bonds are issued in accordance with State law. <br /> "Authorized Representative" shall mean the Controller of the Participant or such other <br /> officer, official, or representative of the Participant duly authorized to act for and on behalf of the <br /> Participant as provided for herein. <br /> "Bond" or "Bonds" shall mean the instrument(s) which evidence(s) the Loan, as <br /> authorized by the Authorizing Instrument and containing the terms set forth in Section 2.02 of this <br /> Agreement. <br /> "Bond Fund" shall mean the separate and segregated fund or account established and <br /> created by the Participant pursuant to the Authorizing Instrument from which payment of the <br /> principal of and interest on the Bonds is required to be made by the Participant. <br /> "Business Day" shall mean any day other than a Saturday, Sunday or State legal holiday <br /> or any other day on which financial institutions in the State are authorized by law to close and to <br /> remain closed. <br /> "Code" shall mean the Internal Revenue Code of 1986, as amended and supplemented <br /> from time to time, together with the regulations related thereto. <br /> "Commission" shall mean the Indiana Utility Regulatory Commission created under I.C. <br /> 8-1-1-2 or its successor. <br /> "Construction Fund" shall mean the separate and segregated fund or account established <br /> and created by the Participant pursuant to the Authorizing Instrument to receive proceeds of the <br /> Bonds and from which Eligible Costs of the Project may be paid by the Participant. <br /> "Credit Instrument" means a letter of credit, surety bond, liquidity facility, insurance <br /> policy or comparable instrument furnished by a Credit Provider that is used by the Participant to <br /> meet all or a portion of any debt service reserve requirement securing the Bonds or any other bonds <br /> payable from the revenues of the Drinking Water System, which bonds are on a parity with the <br /> Bonds. <br /> "Credit Provider"means a bank, insurance company, financial institution or other entity <br /> providing a Credit Instrument. <br /> "Department"shall mean the Indiana Department of Environmental Management created <br /> under I.C. 13-13-1-1 or its successor. <br /> "Deposit Agreement" shall mean an agreement between the Participant and the Deposit <br /> Agreement Counterparty in such form as from time to time determined by the Finance Authority <br /> pursuant to which (a) the Participant's Bond Fund (including any reserve account established and <br /> created by the Participant pursuant to the Authorizing Instrument related thereto) shall be held by <br /> such Deposit Agreement Counterparty and available for payment of the Bonds and any other <br /> similar obligations of the Participant that are payable from the Bond Fund regardless whether they <br /> are on a parity basis, (b) such Deposit Agreement Counterparty serves as the paying agent for the <br /> Bonds and any other such similar obligations of the Participant that are payable from the Bond <br /> Fund, and (c) the Participant's Construction Fund may be held by such Deposit Agreement <br /> Counterparty upon any Loan disbursement by the Finance Authority to it from time to time. <br /> "Deposit Agreement Counterparty" shall mean the financial institution that enters into <br /> a Deposit Agreement with the Participant, which financial institution shall be approved by the <br /> Finance Authority and may be replaced by the Finance Authority from time to time. <br /> "Director of Environmental Programs"shall mean the person designated by the Finance <br /> Authority as authorized to act as the Director of Environmental Programs (which designation <br /> includes such Director's assumption of the duties previously assigned to the Drinking Water SRF <br /> B-2 <br />
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