1980-075 CRA - Laserfiche WebLink

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(1) Is in fact independent and not under domination of the Agency; and (2) Does not have any substantial indirect, with the Agency; and (3) Is not connected with the Agency as an officer or employee of the Agency, but who may be regularly retained to make reports to the Agency. interest, direct or Interest Account means the Accoun t by that name established hereunder. Interest Installment means, as of the date of calculation, the amount equal to unpaid interest then due, if any, plus an amount which will on the next succeeding Interest Payment Date be equal to the interest to become due on the Bonds on such next succeeding Interest Payment Date. Interest shall be calculated on the basis of a 3D-day month, 36D-day year for all purposes of this Resolution and any Supplemental Resolution. Interest Payment Date means January 1 and July 1 of any year in which the Bonds are Outstanding, commencing July 1,1981, or such other date as may be specified in a Supplemental Resolution. Interest Requ irement means the respect ive amounts of Revenues to be transferred by the Trustee from the Revenue Fund to the Interest Account monthly, on or before the first day of each calendar month commencing six (6) months prior to the next succeeding Interest Payment Date, such amount to be equal to one-sixth (1/6th) of the Interest Installment payable on the next succeeding Interest Payment Date after crediting to such Interest Installment any moneys in the Interest Account as of the time of the transfer of the initial one-sixth (1/6th) amount of such Interest Installment. I ssuance Expense Account means the Account by that name established hereunder. Issue Date means with respect to Bonds, the date of the coupon 80nds specified and determined in accordance with Articles II and III. Law means the Community Redevelopment Law (Part I, commencing with section 33000, of Division 24 of the Health and Safety Code of the State), as now enacted and as hereafter amended. Maximum Annual Debt Service means the largest amount of Debt Service for any Bond Year after the computation is made. Mortgage means a deed of trust or other instrument which constitutes a lien under applicable law of the State on real property improved by a Residence financed directly or indirectly from the proceeds of the 80nds 7 . . . . . .