Ordinance 2011-375 - Laserfiche WebLink

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"Agreement" means this Loan Agreement and any and all modifications, alterations, amendments and supplements hereto made in accordance with the provisions hereof. "Annual Debt Service Requirement" means for a given Fiscal Year the amount required to pay the principal of and interest coming due on the Bond during that Fiscal Year. "Bond Counsel" means Greenberg Traurig, P.A. or other counsel experienced in matters relating to the validity of, and the exclusion from gross income for federal income tax purposes of interest on, obligations of states and their political subdivisions. "Bond Payment Date" means each May 1 and November 1 of each year, commencing May 1,2012. "Bond" means the City of Sunny Isles Beach, Florida Capital Improvement Revenue and Revenue Refunding Bond, Series 2011, issued pursuant to this Agreement. "Business Day" means any day which is not a Saturday, Sunday or legal holiday in Miami, Florida. "City Manager" means the City Manager of the City. "Clerk" means the Clerk or any Deputy Clerk of the City. "Code" means the Internal Revenue Code of 1986, as amended, including the applicable regulations of the Department of the Treasury (including applicable final regulations, temporary regulations and proposed regulations), the applicable rulings of the Internal Revenue Service (including published Revenue Rulings and private letter rulings) and applicable court decisions. "Dated Date" means the date of issuance of the Bond. "Event of Default" shall mean an event of default specified III Article VIII of this Agreement. "Fiscal Year" means the period commencing on October 1 of each year and ending on the succeeding September 30, or such other consecutive 12-month period as may be hereafter designated as the fiscal year of the City pursuant to general law. "Governing Body" means the City Commission of the City, or its successor in function. "Half-Cent Sales Tax" means the net sales tax revenue authorized by the Florida legislature from state-shared revenue sources which are distributed to counties and municipalities (as described in the Half-Cent Sales Tax Program), whether levied in the amounts prescribed by the Half-Cent Sales Tax Program or in any other amounts and whether imposed either by amendment to the Half-Cent Sales Tax Program or otherwise. "Half-Cent Sales Tax Program" means all proceedings imposing the Half Cent Sales Tax, including Section 212.20(6) and Chapter 218, Florida Statutes, as the same may be amended or supplemented from time to time. 2 MIA 182,189,515v6 11-2-11