Laserfiche WebLink
<br />construction Fund: the fund established by the City <br />pursuant to this Resolution and into which a portion of the <br />proceeds of the Note will be deposited: <br /> <br />Debt Service Reserve Fund: the debt service reserve fund <br />established by the City pursuant to this Resolution and into <br />which $425,000 of the proceeds of the Note will be deposited: <br /> <br />Disbursing Agreement: the agreement to be executed by the <br />City, the Borrower and the Lender, relating to the disbursement <br />and payment of Project Costs out of the Construction Fund for <br />the construction and installation of the Improvements and the <br />creation of the Debt Service Reserve Fund; <br /> <br />Improvements: the Equipment and the structures and other <br />improvements necessary to install the Equipment on the Land; <br /> <br />Land: the real property and any other easements and <br />rights described in Exhibit A attached to the Loan Agreement; <br /> <br />Lender: The First National Bank of Saint Paul, Saint <br />Paul, Minnesota, its successors and assigns; <br /> <br />Loan Agreement: the agreement to be executed by the City <br />and the Borrower, providing for the issuance of the Note and <br />the loan of the proceeds thereof to the Borrower, including any <br />amendments or supplements thereto made in accordance with its <br />provisions: <br /> <br />Note: the $5,000,000 Industrial Development Revenue Note <br />of 19~5eries C (Advance Circuits, Inc. Project), to be <br />issued by the City pursuant to this Resolution and the Loan <br />Agreement; <br /> <br />Note Register: the records kept by the City Manager to <br />provide for the registration of transfer of ownership of the <br />Note: <br /> <br />Plans and Specifications: the plans and specifications <br />for the construction of the Improvements and the installation <br />of the Equipment on the Land, which are approved by the Lender, <br />together with such modifications thereof and additions thereto <br />as are reasonably determined by the Borrower to be necessary or <br />desirable for the completion of the Improvements and are <br />approved by the Lender: <br /> <br />Pledge Agreement: the Pledge Agreement to be executed by <br />the City and the Lender pledging and assigning the Loan <br />Agreement to the Lender; <br /> <br />2 <br />