2006-09-27 CC Packet - Laserfiche WebLink

Home Browse Search

"Architect", if any - means Not Applicable, which will administer the Construction Contract Documents on behalf of the Public Entity. "Code" - means the Internal Revenue Code of 1986, as amended from time to time, and all treasury regulations, revenue procedures and revenue rulings issued pursuant thereto. "Commissioner of Finance" - means the State of Minnesota acting through its. Commissioner of Finance, and any designated representatives thereof. "COlmnissioner's Order" - means that certain "Order Amending Order of the Commissioner of Finance Relating to Use and Sale of State Bond Financed Property" executed by the Commissioner of Finance on July 20, 1995. "Completion Date" - means December 31, 2008 the date of projected completion of the Project as specified in the Construction Contract Documents. "Contractor" - means any person engaged to work on or to furnish materials and supplies for the Project including, if applicable, a general contractor. "Construction Contract Documents" - means the document or documents, in form and substance acceptable to the State Entity, including but not limited to any construction plans and specifications and any exhibits, amendments, change orders or supplements thereto, which collectively form the contract between the Public Entity and the Contractor or Contractors concerning the Project and which provide for the completion of the Project on or before the Completion Date for either a fixed price or a guaranteed maximum price. "Declaration" - means a declaration, or declarations, in the form as Attachment I to this Agreement and all amendments thereto, indicating that the Public Entity's interest in the Real Property and, if applicable, the Facility is bond financed property within the meaning of the G.O. Compliance Legislation and is subject to certain restrictions imposed thereby. "Event of Default" - means those events delineated in Section 2.05. "Facility", if applicable, - means City of Centerville City Park, which is located, or will be constructed and located, on the Real Property. "Fair Market Value" - means either (i) the price that would be paid by a willing and qualified buyer to a willing and qualified seller as determined by an appraisal which assumes that all mortgage liens or encumbrances on the property being sold, which negatively affect the value of such property, will be released, or (ii) the price bid by a purchaser under a public bid procedure after reasonable public notice, with the proviso that all mortgage liens or encumbrances on the property being sold, which negatively affect the value of such property, will be released at the time of acquisition by the purchaser. "G.O. Bonds" - means the state general obligation bonds issued under the authority granted in Article XI, S 5( a) of the Minnesota Constitution the proceeds of which are used to fund the Grant or any bonds issued to refund or replace such bonds. City of Centerville City Park 9/11/2006 4 21/