4.5. SR 07-09-2012 - Laserfiche WebLink

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G. The Public Entity's receipt and use of the Program Grant to acquire an ownership interest in and/or improve real property (the "Real Property") and, if applicable, structures situated thereon (the "Facility") will cause the Public Entity's ownership interest in all of such real property and structures to become "state bond financed property", as such term is used in Minn. Stat. § 16A.695 (the "G.O. Compliance Legislation") and in that certain "Second Order Amending Order of the Commissioner of Finance Relating to Use and Sale of State Bond Financed Property" executed by the Commissioner of Minnesota Management and Budget and dated March 9, 2010 (the "Commissioner's Order"), even though such funds are being used to only acquire such ownership interest and/or improve a part of such real property and structure. H. The Public Entity and DEED desire to set forth herein the provisions relating to the granting and disbursement of the proceeds of the Program Grant to the Public Entity and the operation of the Real Property and, if applicable, Facility. IN CONSIDERATION of the grant described and other provisions in this Agreement, the parties to this Agreement agree as follows. Article I DEFINITIONS Section 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set out respectively after each such term (the meanings to be equally applicable to both the singL~lar and plural forms of the terms defined), unless the context specifically indicates otherwise: "Agreement" -means this General Obligation Bond Proceeds Grant Agreement - Construction Grant for the Elk River BDPI Project under Greater Minnesota Business Development Public Infrastn~cture Program, as such exists on its original date and any amendments, modifications or restatements thereof. "Approved Debt" -means public or private debt of the Public Entity that is consented to and approved, in writing, by the Commissioner of the Minnesota Department of Management and Budget (MMB), the proceeds of which were or will used to acquire an ownership interest in or improve the Real Property and, if applicable, Facility, other than the debt on the G.O. Bonds. Approved Debt includes, but is not limited tq all debt delineated in Attachment III to this Agreement; provided, however, the Commissioner of MMB is not bound by any amounts delineated in such attachment unless he/she has consented, in writing, to such amounts. "Code" -means the k7ternal Revenue Code of 1986, as amended from time to time, and all treasury regulations, revenue procedures and revenue rulings issued pursuant thereto. "Commissioner of MMB" -means the commissioner of the Minnesota Department of Management and Budget, and any designated representatives thereof. "Commissioner's Order" -means that certain "Second Order Amending Order of the Commissioner of Finance Relating to Use and Sale of State Bond Financed Property" DEED Greater MN Business Development Public Infrastructure Program 2 Ver- 2/16/10 Grant Agreement for Construction Grants (DEED GO GA- Cnstrctn Grnt)