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City of Santa Ana <br />Agreement No.: D2201000 <br />Project No,:C-06-B478-110 <br />Page 3 of 48 <br />contractors, consultants, costs, insurance premiums and all other extraordinary costs reasonably incurred <br />by the State Water Board or assignee of the State Water Board. <br />"Allowance" means an amount based on a percentage of the accepted bid for an eligible project to help <br />defray the planning, design, and construction engineering and administration costs of the Project. <br />"Agreement" means this agreement, including all exhibits and attachments hereto. <br />"Authority" shall refer to Santa Ana Financing Authority. <br />"Authorized Representative" means the duly appointed representative of the Recipient as set forth in the <br />certified original of the Recipient's authorizing resolution that designates the authorized representative by <br />title. <br />"Bank" means the California Infrastructure and Economic Development Bank. <br />"Bond Funded Portion of the Project Funds" means any portion of the Project Funds which was or will be <br />funded with Bond Proceeds. <br />"Bond Proceeds" means original proceeds, investment proceeds, and replacement proceeds of Bonds. <br />"Bonds" means any series of bonds issued by the Bank, the interest on which is excluded from gross <br />Income for federal tax purposes, all or a portion of the proceeds of which have been, are, or will be <br />applied by the State Water Board to fund all or any portion of the Project Costs or that are secured in <br />whole or in part by Payments paid hereunder. <br />"Charge In Lieu of Interest" means any fee or charge in lieu of some or all of, but not to exceed, the <br />interest that would otherwise be owed under this Agreement, as set forth in Exhibit E. <br />"Code" as used in Exhibit F of this Agreement means the Internal Revenue Code of 1986, as amended, <br />and any successor provisions and the regulations of the U.S. Department of the Treasury promulgated <br />thereunder. <br />"Completion of Construction" means the date, as determined by the Division after consultation with the <br />Recipient, that the work of building and erection of the Project is substantially complete, and is identified <br />in Exhibit A of this Agreement. <br />"Cover Page" means the front page of this Agreement. <br />"Days' means calendar days unless otherwise expressly indicated. <br />"Debt Service" means, as of any date, with respect to outstanding System Obligations and, in the case of <br />the additional debt tests in Exhibit B of this Agreement, any System Obligations that are proposed to be <br />outstanding, the aggregate amount of principal and interest scheduled to become due (either at maturity <br />or by mandatory redemption), together with any Charge In Lieu of Interest on this Obligation or other <br />System Obligations to the State Water Board, calculated with the following assumptions; <br />a. Principal payments (unless a different subdivision of this definition applies for purposes of <br />determining principal maturities or amortization) are made in accordance with any amortization schedule <br />published for such principal, including any minimum sinking fund payments; <br />b. Interest on a variable rate System Obligation that is not subject to a swap agreement and that is <br />issued or will be issued as a tax-exempt obligation under federal law, is the average of the SIFMA <br />CW5RF/QWSRF 29VI2022 <br />