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1994-06-21 Minutes
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1994-06-21 Minutes
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of the holders of such Tendered Bonds who shall, except as provided <br />in the last paragraph of Section 412 hereof, thereafter be <br />restricted exclusively to such moneys, for the satisfaction of any <br />claim of whatever nature on their part under this Indenture or on, <br />or with respect to, said Tendered Bonds. <br />Section 410. Trust Funds. All moneys received by the <br />Trustee under any provision hereof shall be held by the Trustee in <br />trust, and such moneys (other than moneys held in the Bond Purchase <br />Fund, the Rebate Fund or pursuant to Section 412 hereof) shall, <br />while so held, constitute part of the. trust estate and be subject <br />to the lien hereof, and shall not be subject to the lien or <br />attachment of any creditor of the Authority. <br />Section 411. Excluded Funds; Transfers to Rebate Fund. <br />The foregoing provisions of this Article IV notwithstanding, <br />(a) the Bond Purchase Fund and the Rebate Fund shall not be <br />considered a part of the "trust estate" created by this Indenture <br />and (b) the Trustee shall be permitted to transfer moneys on <br />deposit in any of the trust funds established under this Indenture <br />to the Rebate Fund in accordance with the provisions of Section 405 <br />contained herein. <br />Section 412. Bond Purchase Fund. The Trustee shall <br />cause the Tender Agent to establish and maintain, so long as any <br />Bonds are outstanding which have not been converted to a Fixed <br />• Rate, a separate fund to be known as the "South Bend Redevelopment <br />Authority College Football Hall of Fame Bond Purchase Fund" (the <br />"Bond Purchase Fund"). There shall be deposited into the Bond <br />Purchase Fund from time to time the following: <br />(a) the price received upon the remarketing of Tendered <br />Bonds to any Person pursuant to the Remarketing Agreement; <br />(b) the price received from the underwriter or purchaser <br />(other than the Authority) of Tendered Bonds upon the conversion <br />of the interest rate thereon to a Fixed Rate; <br />(c) moneys obtained by the Trustee or the Tender Agent <br />as a result of a draw on the Credit. Facility then in effect to be <br />applied to pay the purchase price of Tendered Bonds; and <br />(d) Moneys from the Authority to the extent that moneys <br />obtained pursuant to (a), (b) or (c) above are insufficient on any <br />date to pay the purchase price of Tendered Bonds. <br />Moneys in the Bond Purchase Fund shall be held <br />exclusively for the payment of the purchase price of Tendered <br />Bonds. Amounts held to pay the purchase price for more than three <br />years shall be applied in the same manner as provided under <br />Section 1409 hereof with respect to unclaimed payments of principal <br />and interest. <br />• 41 <br />
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