85-019 Ordinance - Laserfiche WebLink

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? • 4 "Bonds" means the Bonds authorized in Section 3 hereof. "Bond Fund" means the Bond principal, premium and interest fund created by Section 8 hereof. "Bondholder" ,"Holder" or "holder" means the person in whose name a Bond is registered. "Bond Legislation" means this ordinance. "Bond Purchase Agreement" means the Bond Purchase Agreement dated as oEMarch 1, 1985 among the Issuer, the Trustee, the Borrower and the Original Purchaser, and any permitted amendments or supplements thereto. "Bond Service Charges" for any time period means the principal, including any amortization or redemption requirements, interest, and redemption premium, if any, required to be paid by the Issuer on the B onds for such time period. Any "late charge" and any payment required to be made on the Bonds with interest at the Interest Rate for Advances shall also constitute a B ond S ervice Charge. "Borrower" means Carriage Carpet Co., an Ohio corporation, its successors and assigns. "Code" means the Internal Revenue Code of 1954, as amended, and regulations promulgated thereunder. "Completion Date" means the date of completion of the construction, installation and equipping of the Project as that date shall be certified as provided in Section 3.5 of the Agreement. "Construction Fund" means the fund created by Section 7 hereot. ? "Determination of T axability" means (i) the filing by the Borrower or any ather person or entity with the Internal Revenue Service or any statement, supplemental statement or other tax schedule, return or document (whether pursuant to Treasury Regulations Section 1.103-10 (b) (2) (vi) (c) or otherwise) which discloses that an Event of T axability has occurred, or (ii) the final assertion by the Internal Revenue Service or any agent thereof to the effect that interest on the B ond is includable in the gross income for federal income tax purposes of any Recipient (other than a Recipient who is a"substantial user" of the Project or a"related person", as those terms are used in Section 103 of the Code), or (iii) the final adoption of legislation or regulations or a final determination, decision, decree or ruling of any judicial or administrative authority which has the effect of requiring interest on the B onds to be included in the gross income for Federal income tax purposes of any Recipient (other than a Recipient who is a"substantial user" of the Project or a"related person" as those terms are used in S ection 103 of the Code). For purposes of clause (ii) in the preceding sentence, an assertion by the Internal Revenue S ervice or any agent thereof shall be considered final when the Recipient, the Issuer and the Borrower shall have received an opinion of nationally recognized bond counsel to the effect that such assertion is correct, and for purposes of clause (iii) in the preceding sentence, a decision, decree or ruling by any judicial or administrative authority shall be considered final - 2 -