9937-09 Concerning the Construction of Improvements to the Municipal Waterworks of the City

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"Code" shall mean the Internal Revenue Code of 1986, as amended and supplemented from time to time, together with the regulations related thereto. "Commission" shall mean the Indiana Utility Regulatory Commission created under I.C. 8-1-1-2 or its successor. "Construction Fund" shall mean the separate and segregated fund or account established and created by the Participant pursuant to the Authorizing Instrument to receive proceeds of the Bonds and from which Eligible Costs of the Project maybe paid by the Participant. "Credit Instrument" means a letter of credit, surety bond, liquidity facility, insurance policy or comparable instrument furnished by a Credit Provider that is used by the Participant to meet all or a portion of any debt service reserve requirement securing the Bonds or any other bonds payable from the revenues of the Drinking Water System, which bonds are on a parity with the Bonds. "Credit Provider" means a bank, insurance company, financial institution or other entity providing a Credit Instrument. "Department" shall mean the Indiana Department of Environmental Management created under I.C. 13-13-1-1 or its successor. "Deposit Agreement" shall mean an agreement between the Participant and the Deposit Agreement Counterparts in such form as from time to time determined by the Finance Authority pursuant to which (a) the Participant's Bond Fund (including any reserve account established and created by the Participant pursuant to the Authorizing Instrument related thereto) shall beheld by such Deposit Agreement Counterparts and available for payment of the Bonds and any other similar obligations of the Participant that are payable from the Bond Fund regardless whether they are on a parity basis, (b) such Deposit Agreement Counterparts serves as the paying agent for the Bonds and any other such similar obligations of the Participant that are payable from the Bond Fund, and (c) the Participant's Construction Fund may be held by such Deposit Agreement Counterparts upon any Loan disbursement by the Finance Authority to it from time to time. "Deposit Agreement Counterparts" shall mean the financial institution that enters into a Deposit Agreement with the Participant, which financial institution shall be approved by the Finance Authority and may be replaced by the Finance Authority from time to time. "Director of Environmental Programs" shall mean the person designated by the Finance Authority as authorized to act as the Director of Environmental Programs (which designation includes such Director's assumption of the duties previously assigned to the Drinking Water SRF Program Representative and the Drinking Water SRF Program Director) and where not limited, such person's designee. 3