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HomeMy WebLinkAbout0232_23123/ "Authorized Representative" shall mean any person or persons at the time designated to act on behalf of the User or the Corporation by a written cert- ificate, containing a specimen signature of such person or persons, which in the case of the User's representative is signed on behalf of the User by an officer of the User and which is furnished to the Corporation and the Bank and, in the case of the Corporation's representative, is signed on behalf of the Corporation by an officer of the Corporation and furnished to the User and the Bank. "Bank" shall mean the First National Bank of Georgetown, Texas. "Board" shall mean the Board of Directors of the Corporation. "Bond" or "Bonds" shall mean the fully registered Georgetown Industrial Development Revenue Bonds, Series 1984 (The Old Lodge Building Partnership Project) authorized to be issued by this Resolution. "Bondholder" or "Holder" or Bondholders" or "Holders"shall mean the registered owner or owners of the Bonds. "Bond Resolution" or "Resolution" shall mena this Resolution. "Code" means the Internal Revenue Code of 1954, as amended. "Completion Date" is defined in Section 4.4 of the Agreement. "Construction Fund" means the special fund or account created in Section 10 hereof for the deposit and safekeeping of the proceeds of the Bonds. "Corporation" shall mean the Georgetown Industrial Development Corporation. "Debt Service Fund" shall mean the special fund or account/ cj'eated in Section 12 hereof for the deposit of moneys to pay the principal and interest payments on the Bond as the same become due and payable. "Deed of Trusht" shall mean the Deed of Trust, Security Agreement and Assignment of Rents, dated as of March 30, 1984, executed by User, and given to Carroll Sullivan, as Mortgage Trustee, in favor of the Corporation to further secure the payment of the Note. "Depository Agreement" shall mean the Depository Agreement, by and amont the Corporation, the User and the Bank relating to the Bonds and dated as of March 30, 1984. "Determination of Taxability" is described in Section 8.4 of the Agreement. "Event of Taxability" shall mean any event, occurrence or incident (resulting from action or inaction of any person or governmental authority), which has the effect of causing the interest payment on the Bonds to become includable for federal income tax purposes in the gross income of the holder of such Bonds (other than a holder who is a "substantial user" of the Project or a "related person" as such terms are used in Section 103 (b) (10) or the Code). "Paying Agent" means the Bank, acting under and pursuant hereto and to the Assignment. "Person" shall mean and include any individual, corporation, governmental entity, partnership, joint venture, business association, estate or other organization or entity. "Porject" shall mean the land, building and facilities described and identified in Exhibits A and B to the Agreement. "Registered Assigns" shall mean any owner or holder of the Bonds other than the original owner of the Bonds, as shown on the registration and transfer books for the Bonds. "Registrar" means the Bank, acting under and pursuant hereto and to the Assignment.