5.4. ERMUSR 02-20-2007 - Laserfiche WebLink

Home Browse Search

BROOKINGS-TWIN CITIES DEVELOPMENT PROJECT AGREEMENT (3) if indebtedness is issued by Open Participants to finance or refinance all or part of the Development Project, funds required for (a) the deposit or deposits from the proceeds of indebtedness in any funds or accounts established pursuant to the bond resolution as reserves for renewals, replacements, contingencies, and working capital; ; (b) the deposit or deposits from the proceeds of indebtedness in any fund or account established pursuant to the bond resolution to meet reserve requirements for indebtedness; and (c) all costs of issuance, including underwriting fees, bank commitment and letter of credit fees, legal fees, financial advisory fees, engineering fees, bond insurance and indemnity fees, any swap premium or swap termination payment, and any other costs of issuance. (4) all federal, state and local taxes and payments in lieu of taxes legally paid in connection with the Development Project; (5) all costs relating to injury and damage claims arising out of the Development Project; (6) any termination payments under swap or other similar arrangements that may enter into relating to the Development Project; and (7) all other costs incurred by or on behalf of CMMPA and properly allocable to the development, acquisition, financing, and construction of the Project. (x) "Development Work" has the meaning given such term in Attachment 1 of this Agreement. (y) "Joint Development Work" has the meaning given that term in Attachment 1 of this Agreement. (z) "Monthly Development Project Capital Costs" means, with respect to a Contract Year, Development Project Costs that are paid by CMMPA on behalf of Open Participants during each month (or shorter time period as determined at the reasonable discretion of CMMPA) of such Contract Year allocable to the Project, which Development Project Costs shall include, but are not limited to, those items referred to in Attachment 4B of this Agreement. (aa) "Monthly Development Project Costs" means, with respect to a Contract Year, to the extent not paid out of the proceeds of Bonds as a part of the Development Project Costs, all costs, expenses and credits/revenues of CMMPA paid or received by CMMPA during each month (or shorter time period as determined at the reasonable discretion of CMMPA) of such Contract Year allocable to the Development Project, which costs, expenses and credits/revenues shall include, but are not limited to, those items of cost, expenses and credits/revenues referred to in Attachment 4 of this Agreement. With C:\Documents and Settings\Bryan\Local Settings\Temporary Internet Files\OLK53\Cap X Brookings 2-12-07 11 clean.doc