03-1461 Gas Tax Bonds - Laserfiche WebLink

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and expenses ofthe financing incurred for such Project, including fees and expenses of any Paying Agent, Registrar, Credit Bank, Insurer or depository; (8) payments, when due (whether at the maturity of principal or the due date of interest or upon redemption) on any interim or temporary indebtedness of the Issuer incurred for such Project; (9) costs of machinery, equipment, supplies and spare parts required by the Issuer for the commencement of operation of such Project; and (10) any other costs properly attributable to such construction or acquisition or to the issuance of the Bonds which finance such Project, as detem1Íned by generally accepted accounting principles applicable to such Project, and shall include reimbursement to the Issuer for any such items of Cost paid by the Issuer prior to the issuance of the Bonds or other obligations issued to finance the Project. 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, if any, (other than an Insurer) providing a letter of credit, a line of credit or other credit or liquidity enhancement facility, as designated in the Supplemental Resolution providing for the issuance of such Series of Bonds. "Credit Facility" shall mean as to any particular Series of Bonds, a letter of credit, a line of credit or other credit or liquidity enhancement facility (other than an insurance policy issued by an Insurer), as approved in the Supplemental Resolution providing for the issuance of such Bonds. "Debt Service Fund" shall mean the City of Casselberry, Florida Gas Tax 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 the 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 and, except as provided in Section 2.04 hereof, regardless of whether the 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 an original or a copy of an Intemal 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 any public or private ruling of the Internal Revenue Service that any interest payable on the Bonds is includable in the gross income of the Bondholder; or (c) receipt by the Issuer or the Bondholder of an opinion of Bond Counsel that any interest on the Bonds have become includable in the gross income of the Bondholder for federal income tax purposes. For all purposes of this definition, a Determination 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, ifunsuccessful, such Determination ofTaxability shall be retroactive to the applicable date under clauses (a), (b) or (c) above. A Determination of Taxability shall not occur in the event such interest is taken into account in determining adjusted current earnings for the purpose of the alternative minimum income tax imposed on corporations. 6