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

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gains or Losses on the valuation of investments) plus amounts that have been deducted for (a) payments under the Lease with respect to interest on the Bonds and the Subordinate Loans, (b) interest on other Indebtedness with a stated maturity of more than one year, (c) amortization and (d) depreciation. "Indebtedness" means (i) all the indebtedness of the obligor for borrowed money which has been incurred in connection with the acquisition of assets and (ii) the capitalized value of the liability under any lease of real or personal property which is properly capitalized on the statement of assets, liabilities and fund balances of the obligor in accordance with generally accepted accounting principles consistently applied. "Indenture" means the Indenture of Trust, of even date herewith, between the Issuer and the Trustee, pursuant to which the Bonds are authorized to be issued, including any indenture supplemental thereto and any amendments thereof. "Independent Accountant" means any certified public accounting firm licensed to practice in the State (which may be the firm of accountants that regularly audits the books and accounts of the Company or the School, as applicable) from time to time selected by the Company or the School, as applicable, and who is not a full-time employee, director or shareholder of the Issuer or the Company or the School. "Independent Architect" means a person who is a registered architect in the State of Minnesota, and who is not a full-time employee, director or shareholder of the Issuer or the Company. "Independent Consultant" means a management consultant, bookkeeper or certified public accountant experienced in the management, operation and/or financing of charter schools in Minnesota. "Independent Counsel" means an attorney duly admitted to practice law before the highest court of any state and who is not a full-time employee, director or shareholder of the Issuer, the Company or the School. "Insurance Consultant" means a person or firm not employed full-time by the Company or the School, that is nationally recognized as knowledgeable about insurance for public schools. "Interest Payment Date" means I, 241_. 1 and 1 of each year, commencing "Issuer" means the City of Ramsey, Minnesota, a municipal corporation organized and existing under the laws of the State of Minnesota of the State, and any successor. "Issuer Fee" means the Issuer's fce for issuing the Bonds in the aggregate amount set forth in Section 4.2(b) of this Agreement. "Issuer Representative" means the Executive Director of the Issuer, and any other person or persons at the time designated to act on behalf of the Issuer by written certificate furnished to the Company and the Trustee containing the specimen signatures of such person or persons and 4 56OO561v l