Agenda - Council - 08/13/2013 - Laserfiche WebLink

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(g) the cost of all other labor, services, materials, supplies and equipment necessary to complete the acquisition, construction, expansion and equipping of the Project; (h) all interest accruing on money borrowed by the Company for financing of the Project Costs during construction and up to six months thereafter; (i) all fees and expenses of the Trustee and any Paying Agent relating to the Bonds that become due before the completion of the Project; (j) without limitation by the foregoing, all other expenses which under generally accepted accounting principles constitute necessary capital expenditures for the Project and are authorized by the Act to be paid from the proceeds of the Bonds; and (k) all advances, payments and expenditures made or to be made by the Issuer, the Trustee and any other person with respect to any of the foregoing expenses, "Project Fund" means the fund established under the Indenture. "Rating Agency" means Standard & Poor's or Moody's. "Rebate Analyst" means the "Rebate Analyst" as defined in creation of the Rebate Fund. section in the indenture. "Rebate Fund" means the fund created pursuant to the Indenture. "Registered Owner" means the person or persons in whose name or names a Bond will be registered on the books of the Issuer kept for that purpose in accordance with provisions of the Indenture. "Regular Record Date" means, with respect to the Bonds, the 15th day of the calendar month preceding an Interest Payment Date. "Reserve Fund" means the fund created pursuant to the Indenture. "Reserve Fund Requirement" means, with respect to the Series 2013 Bonds, $974,712.50 through and including 1, 2024 and $899,837.50 after 1, 2024 and, with respect to any Additional Bonds, the least of: (a) 10% of the original issue price of the Bonds; (b) the maximum annual debt service in any Bond Year on the Bonds (excluding amounts in the final maturity of the Bonds to be paid from the application of the Reserve Fund); or (c) 125% of the average annual debt service on the Bonds. "Revenue Fund" means the fund created pursuant to the Indenture. "School" means PACT Charter School, a Minnesota nonprofit corporation, formed as a public (charter) school pursuant to Minnesota Statutes, Section 124D.10. "Schoolhouse" means the existing building located at in the City used as a public charter schoolhouse for kindergarten through grade twelve, to be owned by the Company and leased to the School. E-8