1998-11-09-PEDC - Laserfiche WebLink

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403 (h) "Code" shall mean the Intemal Revenue Code of 1986, as amended. (i) "Comptroller" shall mean thc Comptroller of Public Accounts of the State of Texas, and any successor official or officer thereto. (j) "Cost" shall mean with respect to the Project, the cost of acquisition, construction and improvement, along with payment of Note issued and incurred for the Project as provided in the Act, including, without limitation, the cost of the acquisition of all land, rights-of-way, property rights, easements, and interests, the cost of all machinery and equipment, financing charges, interest during construction, necessary reserve funds, cost of estimates and of engineering and legal services, plans, specifications, surveys, estimates of cost and of revenue, other expenses necessary or incident to determining the feasibility and practicability of acquiring, constructing, reconstructing, improving, and expanding any such Project, administrative expense, and such other expense as may be necessary or incident to the acquisition, construction, reconstruction, improvement, and expansion thereof, the placing of the same in operation, and the financing of the Project. (k) "Debt Service" shall mean as of any particular date of computation, with respect to any obligations and with respect to any period, the aggregate of the amounts to be paid or set aside by the Issuer as of such date or in such period for the payment of the principal of, premium, if any, and interest (to the extent not capitalized) on such obligations; assuming, in the case of obligations -- without a fixed numerical rate, that such obligations bear interest at the maximum rate permitted by the terms thereof and further assuming in the case of obligations required to be redeemed prior to maturity in accordance with thc mandatory redemption provisions applicable thereto. (l) "Depository Bank" shall mean the official depository bank of the City. (m) "Fiscal Year" shall mean the fiscal year of the Issuer, being the twelve month period ending September 30 of each year. (n) "Investment Act" shall mean the Public Funds Investment Act of 1987, Chapter 2256, Texas Government Code. (o) "Issuer" shall mean Paris Economic Development Corporation (p) "Municipal Bond Insurance Policy" shall mean the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds. (q) "Paying Agent/Registrar" shall mean the financial institution so designated in accordance with the provisions of Section 4 of this Resolution. (r) "Pledged Revenues" shall mean the Sales Tax, less .any amounts due or owing to the Comptroller as charges for collection or retention by the Comptroller for refunds and to redeem 14