1981-138 CRA - Laserfiche WebLink

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. . . . . . J \ to and the extent that such securities are eligible for the legal investment of Agency funds. (h) Financing. "Financing" and its variants means the lending of moneys or any other thing of value for the purpose of facilitating the construction of the Projects on the Sites, including refinancing of .outstanding indebtedness incurred for such purposes. (i) Holder; Noteholder. "Holder" or "Noteholder" means any person who shall be the registered owner of the Note. (j) Loans. "Loans" means the respective loans made by the Agency to the respective Participating Parties for the Financing of the rehabil itat i on .of the Projects on the Sites pursuant to the Agreements and evidenced by the Promiss.ory N.otes. (k) Note. "Note" means the C.onmunity Redevelopment Agency of the City of Santa Ana Secured Promissory Note (McCull.och's Buildings), authorized by, and issued pursuant to, this Resolution. (1) Official Determination. "Official Determination" means (and for all purposes of this Res.olution shall be deemed to have occurred as of) a change in the Internal Revenue Code of 1954, as amended, the issuance of a statutory notice of deficiency, or ruling by the Internal Revenue Service or a ruling by any court of competent jurisdiction, or any other occurrence, the effect of which, in the opinion of nationally-recognized bond counsel acceptable t.o Agency and Bank, is to make interest payable on this Note includable in the gross income of the holder hereof (except to the extent that such interest is so includable because the holder is a "substantial user" of any of the Projects referenced below or a "related person" as such terms are defined in Section 103 of the Internal Revenue Code of 1954, as amended). The fees and expenses of any such bond counsel in connection with such opinion shall be an obligation of Agency payable from the same s.ource and secured in the same manner as are all other obligati.ons evidenced hereby. t t P(m). ~a~¡iCi~a~in~ Pt~~ier k M"PCarltlicihPatidngJ PaRrtiMesC" lmleahns with respec 0 roJec an roJec ac c u oc an oy . c u oc. (n) Permitted Investments. "Permitted Investments" means Federal Securities or certlflcates of deposit of commercial banks (including the Bank) with a paid in capital and surplus in excess of $500,000,000. (0) "Project Costs" means, with respect to each Project Costs. Project, (i) the amount required to pay the interim construction loan obtained by the Participating Party for said Project provided that the Participating Party certifies to the Agency that the proceeds of the interim construction loan were used by the Participating Party for: 3