Agenda - Council - 07/12/2022 - Laserfiche WebLink

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Minnesota Department of Education State Aids Reports, or any successor provision for general educational funding under State law. Generally Accepted Accounting Principles or GAAP means those accounting principles applicable in the preparation of financial statements of the Company or the Charter School, as applicable, as promulgated by the Financial Accounting Standards Board or such other body recognized as authoritative by the American Institute of Certified Public Accountants. Governmental Obligations means direct general obligations of (including obligations issued or held in book entry form on the books of the Department of the Treasury) of the United States of America. Gross Revenues means the same as defined in the Pledge Agreement. Hazardous Substance means the dangerous,toxic or hazardous pollutants, chemical wastes or substances as defined in CERCLA, RCRA, or MERLA, or any other similar federal, state or local environmental laws, statutes, regulations, requirements and ordinances. Improvement(s)means any addition, enlargement, betterment, improvement, extension, or alteration of or to the School Facilities as they then exist, and any fixtures, structures or other facilities acquired or constructed by the Company or the Charter School and located on the site of the School Facilities. Indebtedness means (a) all indebtedness of the obligor for borrowed money incurred or assumed by the obligor, and all purchase money mortgages,installment purchase contracts, leases, guaranties, or other similar instruments in the nature of a borrowing by which the obligor will be unconditionally obligated to pay; (b) the capitalized value of the liability under any lease of real or personal property; and (c) any guaranties of any obligation or indebtedness of another Person. Indenture means this Indenture of Trust, dated as of September 1, 2022,between the Issuer and the Trustee, pursuant to which the Bonds are authorized to be issued, including any indenture supplemental hereto and any amendments hereof. 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 Charter School, as applicable) from time to time selected by the Company or the Charter School, as applicable, and who is not a full-time employee, director or shareholder of the Issuer or the Company or the Charter School. Independent Architect means a person selected by the Company or School who is a registered architect in the State, and who is not a full-time employee, director or shareholder of the Issuer, Charter School, or the Company. Independent Consultant means a management consultant, bookkeeper or certified public accountant selected by the Charter School or the Company experienced in the management, operation and/or financing of charter schools in the State. 9 735810810