05-13-2020 Council Packet - Laserfiche WebLink

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12316306v3 -5- "Book-Entry Form" means Bonds which are held in the name of the Depository (or its nominee) with each maturity evidenced by a single Bond certificate. "Book-Entry System" means a system of record-keeping, securities clearance and funds transfer and settlement maintained for securities by the Depository and the Participants. "Borrower" means Presbyterian Homes Care Centers, Inc., a Minnesota nonprofit corporation, its successors and assigns. "Certificate" means a certification in writing required or permitted by the provisions of the Loan Agreement or this Indenture signed and delivered to the Trustee or other proper person or persons. If and to the extent required by the provisions of Section 1.02 hereof, each Certificate shall include the statements provided for in said Section 1.02. "Certified Resolution" means a copy of a resolution of the Governing Body, certified by the City Administrator to have been duly adopted by said Governing Body and to be in full force and effect on the date of such certification. "City" or "Issuer" means the City of Little Canada, a municipal corporation of the State of Minnesota, its successors and assigns. "Closing Date" means the date of issuance and initial delivery to the Original Purchaser of the Series 2020 Bonds. "Construction Period" means, with respect to the 2018 Project, the period beginning on the Closing Date and ending on the date on which the 2018 Project is placed in service and, with respect to the 2020 Project, the period beginning with the earlier to occur of the Closing Date or the date of commencement of construction of the 2020 Project and ending on the date on which the Project is placed in service. "Default" means default by the Issuer in the performance or observance of any of the covenants, agreements or conditions on its part contained in this Indenture, or in the Bonds outstanding hereunder, exclusive of any notice or period of grace required for a default to constitute an "event of default" as hereinafter provided. "Depository" means The Depository Trust Company in New York, New York, its successors or assigns, or any other person who shall be a Holder of all Bonds directly or indirectly for the Original Purchaser to act as the Depository; provided that any Depository shall be registered or qualified as a "clearing agency" within the meaning of Section 17A of the Securities Exchange Act, as amended. "Determination of Taxability" means the issuance of a statutory notice of deficiency by the Internal Revenue Service, or a ruling of the National Office or any District Office, or a final decision by any court of competent jurisdiction that interest on any of the Series 2020 Bonds is includable in the gross income of the recipient under Section 103 and related Sections of the Internal Revenue Code and regulations thereunder because of any act or omission of the Borrower (or any successor or transferee) or of the Trustee, provided that the period for a contest or appeal, if any, of such action, ruling or decision has expired without any such appeal or