1. MIDA Bond-Oak Grove School - Laserfiche WebLink

"Net Proceeds" means with respect to any insurance payment or condemnation award, the amount remaining therefrom after payment of all expenses (including attorneys' fees and any extraordinary fee or expense of the Corporation or the Lender) incurred in the collection thereof. ffOutstanding Bonds" or ffBonds Outstanding" means the Bonds which have been authenticated and delivered under the Resolution, except: (a) Bonds cancelled by the Lender or delivered to the Lender for cancellation; (b) Bonds for the payment or redemption of which cash or Governmental Obligations shall have been deposited with the Lender (whether on or prior to the maturity or redemption date of any such Bonds); provided, however, that if such Bonds are to be redeemed prior to maturity thereof, notice of such redemption shall have been given or arrangements satisfactory to the Lender shall have been made therefor, or waiver of such notice satisfactory in form to the Lender, shall have been filed with the Lender; and ( c) Bonds for which other Bonds have been authenticated and delivered in exchange therefor as provided for in the forms of the Bonds and in Sections 2.6 and 2.7 of the Resolution; provided, however, that for the purpose of determining whether there has been notice to or action by the Holders of the requisite principal amount of Bonds, Bonds owned by or pledged to the Corporation shall be disregarded and not deemed to be Outstanding. ffPayment Date" means (a) the dates required for payment of interest or interest and principal and premium, if any, on the Bonds, i. e., May _ and November _ of each year until the Bonds are paid (or provisions made therefor) in accordance with the Resolution, the first Payment Date being May _, 2009, and (b) for Bonds subj ect to redemption on any date, the date of such redemption. ffPlans" means the plans and specifications for the construction and equipping of the Project. ffProject" means the construction and equipping of a new health and wellness center, the renovation of the Gorder Gymnasium and related facilities in accordance with the Plans. "Qualified Project Costs" means the costs and expenses of the Project, but specifically excluding (i) costs and expenses for portions of the Facilities to be used for activities constituting unrelated trades or businesses of the Corporation determined by applying section 513( a) of the Code, and (ii) Issuance Expenses in excess of two percent (2%) of the proceeds of the Bonds. ffResolution" means the Resolution ofthe Issuer, adopted November 3, 2008, authorizing the issuance of the Bonds. 1-4