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

Home

"Schoolhouse" means an approximately 72,000 square foot public elementary and secondary schoolhouse located at 7250 Ramsey Parkway East Northwest. "Series A Bonds" means the Lease Revenue Refunding Bonds (PACT Charter School Project), Series 2013A, issued by the Issuer in the principal amount of $ and issued under and secured by the Indenture. "Series B Bonds" means the Taxable Lease Revenue Refunding Bonds (PACT Charter School Project), Series 2013B, issued by the Issuer in the principal amount of $ and issued under and secured by the Indenture. "Standard & Poor's" means Standard & Poor's Ratings Group, a division of the McGraw Hill Companies, its successors and their assigns, and if such entity shall be dissolved or liquidated or shall no longer perform the functions of a municipal securities rating agency, "Standard & Poor's" shall be deemed to refer to any other nationally recognized municipal securities rating agency designated by the Issuer (other than Moody's). "Subordinate Loans" means 'the Line of Credit, the Bus Loan, and] any permitted additional Indcbtcdness of the Company or the School payment of which is expressly made subordinate to the payment of the Bonds and any Additional Bonds. "State" means the State of Minnesota. "Tax Regulatory Agreement" means the Tax Regulatory Agreement, dated as of the Date of Issuance, by and among the Issuer, the School and the Company. "Term of Agreement" means the term of this Agreement as specified in Section 10.1 hereof. "Title Insurer" means Chicago Title Insurance Company acting through its agent, Commercial Partners Title, LLC. "Trustee" means Wells Fargo Bank, National Association, a national banking association with its principal corporate trust office in Minneapolis, Minnesota, as trustee under the Indenture, and its successors in trust and assigns. "Value" means that value, which shall be determined between 45 and 60 days prior to each Interest Payment Date, of the cash and any investments in the Reserve Fund, which shall be calculated by the Trustee, which may engage the pricing service of any national pricing firm to assist in such determination, as follows: (a) as to investments the bid and asked prices of which are published on a regular basis in The Wall Street Journal (or, if not there, then in The New York Times), the average of the bid and asked prices for such investments so published on or most recently prior to such time of determination; (b) as to investments the bid and asked prices of which are not published on a regular basis in The Wall Street Journal or The New York Times, the average bid price at such time of determination for such investments by any two nationally recognized government securities dealers (selected by the Trustee in its absolute discretion) at the time making a market in such investments or the bid price published by a nationally recognized pricing service; (c) as to certificates of deposit and bankers acceptances: 8 5G008G1v1