AGENDA REPORTS - Laserfiche WebLink

Name of Recipient Agreement No.: XX-XXX-550 Project No.: C-06-XXXX-XXX "Agreement"means this Installment Sale Agreement, dated as of the date set forth on the first page hereof, by and between the State Water Board and the Recipient, including all exhibits and attachments hereto. "Allowance" means an amount based on a percentage of the accepted bid for an eligible project to help defray the planning, design, and construction engineering and administration costs of the Project. "Authorized Representative"means the duly appointed representative of the Recipient. For all authorized representatives, a certified original of the authorizing resolution that designates the authorized representative, by title, must accompany the first disbursement request, and any other documents or requests required or allowed under this Agreement. "Bank"means the California Infrastructure and Economic Development'Bank. "Bonds" means any series of bonds issued by the Bank all or a portion of the proceeds of which may be applied to fund the Project in whole or in part or that are secured,ih.whole or in part by Installment Payments paid hereunder. N, / "Code"as used in Article IV of this Agreement means the'Internal Revenue Code of 1986, as amended, and any successor provisions and the regulations.of the U.S. Department ofthe.Treasury promulgated thereunder. \ "Completion of Construction" means the/date, as determ t ined .by a Division after consultation with the Recipient, that the work of building and'erection of the Project is substantially complete` "CWSRF" means the Clean Water State Revolv ng Fund. N "Division" means the Division.of-Financial Assistance of the State Water Board or any other segment of the State Water Board authorized to administer,the CWSRF. /' "Enterprise Fund"means the Water Ma intenance and Operations Fund.of the Recipient. • "Fiscal Year" means the period of twelve(12),months terminating on June 30 of any year, or any other annual period hereafter selected and designated by the;Recipient as its Fiscal Year in accordance with applicable law.-° "Force Account" means the seof the Recipient's own employees or equipment for construction of the Project. \, "Initiation of Construuction" means the.date that notice to proceed with work is issued for the Project, or, if notice to proceed is not required, the date of commencement of building and erection of the Project. "Installment Payments"means Installment Payments due and payable by the Recipient to the State Water Board under this Agreerri n;'the amounts of which are set forth as Exhibit C hereto. "Listed Event" means, so long as the Recipient has outstanding any Material Obligation subject to Rule 15c2-12, any of the events required to be reported pursuant to Rule 15c2-12(b)(5). "Material Event" means any of the following events: (a) revenue shortfalls; (b) unscheduled draws on the Reserve Fund or the Enterprise Fund; (c) substitution of insurers, or their failure to perform; (d) adverse water quality findings by the Regional Water Quality Control Board; (e) litigation related to the Revenues, the System, or the Project, whether pending or anticipated; (f) any false warranty or representation made by the Recipient relevant to this Agreement; (g) loss, theft, damage, or impairment to the Revenues or the System; (h) seizure of, or levy on any collateral securing this Agreement; (i) dissolution or cessation of 2