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"Bond Legislation" means (i) when used with reference to the Project <br />Bonds, this ordinance; (ii) when used with reference to an issue of <br />Additional Bonds, this ordinance to the extent applicable and the legislation <br />providing for the issuance of such Additional Bonds; and (iii) when used <br />with reference to Bonds when Additional Bonds are outstanding, this ordinance <br />and the legislation providing for the issuance of Additional Bonds; all <br />as the same may from time to time be lawfully amended, modified or <br />supplemented. <br />"Bond service charges" for any time period means the principal, <br />interest, and redemption premium, if any, required to be paid by the <br />Issuer on the Bonds for such time period. <br />"Commission" means the South Bend Economic Development Commission, <br />created by Ordinance No. 5240 -70 of the Legislative Authority passed on <br />October 26, 1970. <br />"Company" means South Bend Forge, Inc., a corporation duly organized <br />and existing under the laws of the State of Indiana, and its lawful <br />successors and assigns. <br />"Construction Fund" means the Construction Fund created by Section <br />8 hereof. <br />"Eligible Investments" means (i) obligations issued or guaranteed <br />by the United States or by any person controlled or supervised by and acting <br />as an instrumentality of the United States pursuant to the authority granted <br />by Congress, (ii) obligations issued or guaranteed by any state or political <br />subdivision thereof rated A or higher by Moody's Investors Service, Inc. <br />or by Standard & Poor's Corporation, both of New York, New York, or their <br />successors; (iii) commercial or finance paper, including that of an affiliate <br />of the Trustee, which is rated either P -1 or A -1 or an equivalent by Moody's <br />Investors Service, Inc. or Standard & Poor's Corporation, both of New York, <br />New York, or their successors; (iv) bankers' acceptances drawn on and <br />- 5 - <br />