1998-10-19 Resolution 130 - Laserfiche WebLink

Home Browse Search

(g) "Escrow Requirement" means, as of any date, the amount of the Governmental Obligations required to be on deposit in the Escrow Fund which, together with the interest to be earned thereon, will be sufficient to pay the Aggregate Debt Service. (h) "Governmental Obligations" means investments in: (i) direct obligations of, or obligations the principal and interest on which are unconditionally guaranteed by, the United States of America; or (ii) time certificates of deposit fully securedvas:ao both principal and interest by obligations of the kind described in (i) above of a bank or banks, which obligations mature or are subject to the redemption by the holder thereof at the option of such holder not later than the respective dates when the proceeds, together with interest accruing thereon, will be required for payment of the Prior Bonds. (i) "Issuance Date" means the date on which the Bonds shall be issued and . delivered to the purchaser or purchasers thereof, which shall be , 1998. (j) "South Bend Redevelopment Authority 1998 Sinking Fund' means the sinking fund established by Section 3.01 of the Trust Agreement and the Refunding Bond Resolution for the payment of principal of and interest on the Bonds and any and all bonds hereafter issued and payable from the rental revenues of the Blackthorn Golf Course Project and for the payment of any fiscal agency charges in connection with such payments. Section 2. Appointment and Acceptance of Escrow Trustee. The Authority hereby confirms the appointment by the Authority of the Escrow Trustee and the Escrow Trustee hereby corms its acceptance of its appointment as Escrow Trustee. The Escrow Trustee hereby agrees to perform the duties set forth herein with respect to the advance refunding of the Prior Bonds • :ODMA\PCDOCS\SBDOCSI\24205\2 _q._