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"Additional Interest Rate" means the additional 0.5% interest charged on the Assessments
<br />as authorized by the PID Act.
<br />"Administrative Fund" means that Fund established by Section 6.1 and administered
<br />pursuant to Section 6.9.
<br />"Administrator" means initially P3Works, LLC, or thereafter an employee or designee of
<br />the City who shall have the responsibilities provided in the Service and Assessment Plan, this
<br />Indenture, or any other agreement or document approved by the City related to the duties and
<br />responsibilities of the administration of the District.
<br />"Annual Collection Costs" means the administrative, organization, maintenance and
<br />operation costs and expenses associated with, or incident to, the administration, organization,
<br />maintenance and operation of the District, including, but not limited to, the costs of (i) legal
<br />counsel, engineers, accountants, financial advisors, investment bankers or other consultants and
<br />advisors, (ii) creating and organizing the District and preparing the Assessment Roll, (iii)
<br />computing, levying, collecting and transmitting the Assessments or the Annual Installments, (iv)
<br />maintaining the record of installments, payments and reallocations and/or cancellations of the
<br />Assessments, (v) issuing, paying and redeeming the Bonds, (vi) investing or depositing the
<br />Assessments or other funds, (vii) complying with the PID Act with respect to the Bonds, (viii)
<br />paying the paying agent/registrar's and trustee's fees and expense (including the fees and expense
<br />of its legal counsel), and (ix) administering the construction of the Public Improvements, in
<br />accordance with the terms of this Indenture.
<br />"Annual Debt Service" means, for each Bond Year, the sum of (i) the interest due on the
<br />Outstanding Bonds in such Bond Year (excluding interest paid from funds on deposit in the
<br />Capitalized Interest Account of the Bond Fund), assuming that the Outstanding Bonds are retired
<br />as scheduled (including by reason of Sinking Fund Installments), and (ii) the principal amount of
<br />the Outstanding Bonds due in such Bond Year (including any Sinking Fund Installments due in
<br />such Bond Year).
<br />"Annual Installment" means, with respect to each Parcel, each annual payment of: (i) the
<br />Assessments (including the principal of and interest on), as shown on the Assessment Roll
<br />attached as Appendix A to the Service and Assessment Plan, as applicable, and calculated as
<br />provided in Section VI of the Service and Assessment Plan, (ii) Annual Collection Costs, and
<br />(iii) the Additional Interest.
<br />"Annual Service Plan Update" means the annual review and update of the Service and
<br />Assessment Plan required by the PID Act and the Service and Assessment Plan.
<br />"Applicable Laws" means the PID Act, and all other laws or statutes, rules, or regulations,
<br />and any amendments thereto, of the State or of the United States, by which the City and its
<br />powers, securities, operations, and procedures are, or may be, governed or from which its powers
<br />may be derived.
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