SA-3 - RESO TAX ALLOCATION BOND - Laserfiche WebLink

Home Browse Search

"Regulations" shall mean temporary and permanent regulations promulgated or applicable under Section 103 and all related provisions of the Code. "Related Documents" shall mean the Indenture and any other document executed by the Agency in connection with the issuance of the Series 2018 Bonds including, without limitation, the Series 2018 Bonds issued hereunder. "Reserve Account" shall mean the account maintained within the Tax Increment Fund pursuant to Section 5.03 of the Indenture "Reserve Account Requirement" shall mean as of the date of any calculation, with respect to all Outstanding Bonds an amount equal to the lesser of (i) the Maximum Annual Debt Service attributable to the Outstanding Bonds or (ii) 125% of Average Annual Debt Service attributable to the Outstanding Bonds; provided however, that the Reserve Account Requirement when issuing a new Series of Bonds shall be the lesser of (i) or (ii) above, but limited to the addition to the Reserve Account of no more than 10% of the proceeds from the sale of such new Series of Bonds. "Responsible Officer" shall mean any Vice -President, Assistant Vice President, Trust Officer or other officer of the Trustee having regular responsibility for corporate trust matters. "ROPS Payment Period" shall mean a ROPS Period; provided, that if the Dissolution Act is hereafter amended such that each ROPS Period covers a fiscal period of a different length, then "ROPS Payment Period" shall mean the period during which moneys distributed on a RPTTF Distribution Date are permitted to be expended under the Dissolution Act, as amended. "ROPS Period" shall mean each annual period from July 1 to June 30, inclusive, as provided in subdivision (o) of Section 34177 of the Dissolution Act; provided, that if the Dissolution Act is hereafter amended such that each ROPS covers a fiscal period of a different length, then "ROPS Period" shall mean such other applicable period established under the Dissolution Act, as amended. "RPTTF" or "Redevelopment Property Tax Trust Fund" shall mean the fund by that name established pursuant to Health and Safety Code Section 34170.5(b) and administered by the County Auditor -Controller. "RPTTF Distribution Date" shall mean each January 2 and June 1, as specified in Section 34183 of the Dissolution Act, on which the County Auditor -Controller allocates and distributes to the Agency monies from the RPTTF for payment on enforceable obligations pursuant to an approved ROPS. "Securities Depository" shall mean, initially, The Depository Trust Company, New York, N.Y., or, in accordance with then -current guidelines of the Securities and Exchange Commission, such other securities depositories, or no such depositories, as designated by the Trustee. "Serial Bonds" shall mean Bonds for which no Sinking Account Installments are provided. 4150-2542-5420.3 13 40990-25 SA -3-31