1. MIDA Bond-Oak Grove School - Laserfiche WebLink

"Bond Year" means the period ending November _ of each year or such other period selected for the computations required to comply with the arbitrage rebate provisions in accordance with Section 148(f) of the Code. "Bondholder" or "Holder" or "Owner" means the person in whose name a Bond shall be registered on books of the Issuer kept for that purpose in accordance with the terms of the Resolution. "Business Day" means any day other than a Saturday, Sunday or other day on which banking institutions in the City of Minneapolis, Minnesota are not open for business. "Code" means the United States Internal Revenue Code of 1986, as amended, and all Treasury Regulations promulgated thereunder. "Completion Date" means the date of completion of construction and equipping of the Project as that date shall be certified by the Corporation in accordance with Section 3.05 hereof. "Construction Account" means the account created by Section 2.11 (b) of the Resolution. "Corporate Representative" means the Chair, President, Vice President, Secretary or Treasurer of the Board of Regents of the Corporation, the Executive Director and Controller of the Corporation or any authorized representative of the Corporation designated from time to time to act on behalf of the Corporation by written certificate furnished to the Lender containing a specimen signature( s) of such person( s) and signed on behalf of the Corporation by an authorized signature. "Corporation" means Oak Grove Lutheran School, a North Dakota nonprofit corporation and its successors and assigns and any resulting or transferee corporation under Section 7.04 hereof. "Counsel" means an attorney designated by or acceptable to the Lender duly admitted to practice before the highest court of any state; an attorney for the Corporation or Issuer may be eligible for appointment as Counsel. "Determination of Taxability" means the issuance of a statutory notice of deficiency by the Internal Revenue Service, or a final decision of a court of competent jurisdiction which holds in effect that the interest payable on any Bond is includable in the gross income of a Holder under Section 103(a) of the Code, after the period, if any, for contest or appeal of such action, ruling, or decision has expired without any such contest or appeal having been properly instituted. "Determination ofTaxability" does not mean or include among other things, the inclusion of interest on the Bonds for purposes of computing alterative minimum taxes imposed upon individuals and corporations pursuant to the Code, nor does it mean the branch profits tax imposed pursuant to Section 884 of the Code, nor the inclusion of interest as passive investment income for subchapter S corporations under Section 1375 of the Code. 1-2