My WebLink
|
Help
|
About
|
Sign Out
Home
2020_0518_CCPacket
Roseville
>
City Council
>
City Council Meeting Packets
>
2020
>
2020_0518_CCPacket
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/7/2022 9:35:26 AM
Creation date
1/7/2022 9:34:36 AM
Metadata
Fields
Template:
Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
5/18/2020
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
569
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Attachment B <br />EXHIBIT F <br />CONSTRUCTION PHASE INTEREST RATE <br />\[The ÐConstruction Phase Interest RateÑ means an adjustable annual rate of interest PER ANNUM <br />(the ÐSIFMA RateÑ) that shall be determined by the Initial Funding Lender (whether directly or <br />acting by and through the Financial Monitor) weekly, on each Wednesday of each week (or if any <br />Wednesday is not a Business Day, the immediately succeeding Business Day), to be equal to the <br />sum of the SIFMA Index in effect on such Wednesday (or immediately succeeding Business Day, <br />as applicable), plus the SIFMA Spread, with any such SIFMA Rate to remain fixed from the <br />Thursday of each week until the next weekly adjustment date.\] \[Interest at the Construction Phase <br />Interest Rate shall accrue from the Delivery Date and be computed as aforesaid on the basis of a <br />365-day year (366 days in a leap year) for the actual days elapsed.\] <br />Words with initial capital letter used in this Exhibit F and not defined herein shall has the respective <br />meanings assigned thereto in the Funding Loan Agreement. For the purposes hereof: <br />\[ÐCompletion DateÑ shall have the meaning assigned to such term in the Construction Continuing <br />Covenant Agreement.\] <br />\[ÐSIFMA IndexÑ shall mean as of any date of determination, the greater of (i) zero percent (0.0%), <br />and (ii) the level of the index which is compiled weekly by Municipal Market Data and which <br />meets specific criteria established from time to time by the Securities Industry and Financial <br />Markets Association for interest rate resets of tax exempt variable rate issues included in the <br />database maintained thereby and issued on Wednesday of each week, or if any Wednesday is not <br />a Business Day, the immediately succeeding Business Day; provided that, if the SIFMA Index is <br />no longer published or available, then ÐSIFMA IndexÑ for purposes of the Governmental Note <br />shall mean a reasonably equivalent substitute index as determined by the Initial Funding Lender <br />(whether directly or acting by and through the Financial Monitor), acting in its sole and absolute <br />discretion but in good faith, to approximate weekly interest rates then applicable to tax exempt <br />state and local government loans of similar tenor, terms and credit quality as the Governmental <br />Note; and provided further that, in connection with selecting such a reasonably equivalent <br />substitute index, the Initial Funding Lender (whether directly or acting by and through the <br />Financial Monitor) shall be entitled (but not required) to the request and receive (at the sole cost <br />and expense of the Borrower) a no adverse effect opinion of Bond Counsel with respect to interest <br />earned on the Governmental Loan.\] <br />\[ÐSIFMA SpreadÑ shall mean (i) from the Delivery Date to but not including the \[Completion <br />Date\], _____ basis points to be expressed as a percentage equal to _____ percent (____%), and (ii) <br />from and after the \[Completion Date\] to the \[Mandatory Prepayment Date of this Governmental <br />Note\], _____ basis points to be expressed as a percentage equal to _____ percent (____%).\] <br />\[The SIFMA Rate shall be subject to adjustment by Initial Funding Lender as set forth in the <br />Project Note.\] <br /> F-1 <br />12502516v3 <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.