2001-58 PROVIDING FOR THE ISSUANCE OF A TAXABLE SUBORDINANTE LIEN PROMISSORY NOTE

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� � t "Developer"means Airport Plaza Joint Venture, an Illinois general partnership. `Developer Interest Costs"means interest costs, if any, on funds borrowed by the Developer in connection with the Project, as defined in the Redevelopment Agreement. "Government Securities" means bonds, notes, certificates of indebtedness, , treasury bills or other securities constituting direct obligations of the United States of ' America and all securities or obligations, the prompt payment of principal and interest of which is aranteed b a led e of the full faith and credit of the United States of � Y P g America. `7ncremental Property Taxes" means the ad valorem taxes, if any, arising from the tax levies upon taxable real property in the Project Area by any and all taxing districts or municipal corporations having the power to tax real property in the Project Area, which taxes are attributable to the increase in the then current equalized assessed valuation of each taxable lot, block, tract or parcel of real property in the Project Area over and above the Total Initial Equalized Assessed Value of each such piece of property, all as determined by the County Clerk of The County of Macon, Illinois, in accord with Section 11-74.4-9 of the Act. "Incremental Sales Taxes" means the increase, if any, in distributions to the City by the State of sales taxes collected in the Project Area pursuant to the Retailers' Occupation Tax Act, the Service Occupation Tax Act, the Service Use Tax Act and the Use Tax Act, each as amended, or substitute taxes therefor, over the aggregate amount of such taxes collected in the Project Area and distributed to the City during calendar year 1997. `Independent"when used with respect to any specified person means such person who is in fact independent and is not connected with the City as an officer, employee, underwriter, or person performing a similar function. Whenever it is herein provided that the opinion or report of any Independent person shall be furnished, such person shall be appointed by the City, and such opinion or report shall state that the signer has read this definition and that the signer is Independent within the meaning hereof. `Interest Payment Date"means a Stated Maturity of interest on the Note. "Interest Requirement" means for any Note Year the aggregate amount of first, Deferred Accrued Interest then due, and next, the Current Interest on the Note having a Stated Maturity during such Note Year. "Limited Incremental Sales Tax Subaccount" means the account of such name established under Section 7 of this Ordinance. "Limited Incremental Sales Taxes"means Incremental Sales Taxes less the 1/4% of municipal sales tax used by the City for capital purposes, as described in the Redevelopment Agreement. -4-