03-1460 Infrastructure Bonds - Laserfiche WebLink

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and if advisable by the Issuer, for up to one (l) year after the end of, the construction period for such Project, including audits, fees and expenses of allY Paying Agent, Registrar, Insurer, Credit Bank or depository; (8) payments, when due (whether at the maturity of principal or the due date of interest or upon redemption) on any indebtedness of the Issuer (other than the Bonds) inculTed for such Project; (9) costs of machinery or equipment required by the Issuer for the commencement of operation of such Project; (l0) any other costs properly attributable to such construction or acquisition, as detelTnined by generally accepted accounting principles and shall include reimbursement to the Issuer for any such items of Cost heretofore paid by the Issuer. Any Supplemental Resolution may provide for additional items to be included in the aforesaid Costs. "Credit Bank" shall mean as to any particular Series of Bonds, the Person (other thall an Insurer) providing a letter of credit, a line of credit or another credit or liquidity enhancement facility, as designated in the Supplemental Resolution providing for the issuance of such Bonds. "Credit Facility" shall mean as to any particular Series of Bonds, a letter of credit, a line of credit or anoilier credit or legal liquidity enhancement facility (other thall an insurallCe policy issued by all Insurer), as approved in the Supplemental Resolution providing for the iSSUallce of such Bonds. "Debt Service Fund" shall meall the City of Casselberry, Florida Infrastructure Sales Surtax Revenue Bond Debt Service Fund established pursuant to Section 4.04 hereof. "Determination of Taxability" shall mean the circumstance of interest paid or payable on tlle Bonds becoming includable for federal income tax purposes in the gross income of the Bondholder as a consequence of any act, omission or event whatsoever alld, except as provided in Section 2.04 hereof, regardless of whether tlle same was within or beyond the control of the Issuer. A Determination of Taxability will be deemed to have occurred upon (a) the receipt by the Issuer or the Bondholder of all original or a copy of all Internal Revenue Service Technical Advice Memorandum or Statutory Notice of Deficiency which holds that any interest payable on the Bonds is includable in the gross income of such Bondholder; (b) the issuance of allY public or private ruling of the Internal Revenue Service that any interest payable on the Bonds is includable in the gross incorne of the Bondholder; or (c) receipt by the Issuer or the Bondholder of an opinion of Bond Counsel that allY interest on tlle Bonds have become includable in the gross income of the Bondholder for federal income tax purposes. For all purposes of this definition, a Detennination of Taxability will be deemed to occur on the date as of which the interest on the Bonds is deemed includable in the gross income of the Bondholder; provided, however, the Bank shall in all cases grant the Issuer a reasonable opportunity to contest any memoranda, notice, ruling or opinion described in clauses (a), (b) or (c) above before a Determination of Taxability will be deemed to have occurred, but, if unsuccessful, such Determination of Taxability shall be retroactive to the applicable date under clauses (a), (b) or (c) above. A DetelTnination of Taxabilitv shall not occur in the event such interest is taken into account in determining adjusted CUlTent earnings for the purpose of the alternative minimum income tax imposed on corporations. 6