Orange County NC Website
Browse       Search
32 <br /> "Pledged Site" has the meaning ascribed to that term in the Deed of Trust, and <br /> generally includes the real property upon which the Pledged Facilities are located. <br /> "Project" has the meaning ascribed to that term in the recitals to this Contract. <br /> "Project Costs" means all capital costs of the Project as determined in accordance <br /> with generally accepted accounting principles and that will not adversely affect the <br /> exclusion from gross income for federal income tax purposes of the designated interest <br /> component of Installment Payments payable under this Contract, including (a) sums <br /> required to reimburse the County or its agents for advances made for any such costs, and <br /> (b) all costs related to the financing of the Project through this Contract and all related <br /> transactions. <br /> "School Board" means The Orange County Board of Education, and its succes- <br /> sors. <br /> "State" means the State of North Carolina. <br /> All references in this Contract to designated "Sections" and other subdivisions are <br /> to the designated sections and other subdivisions of this Contract. The words "hereof' <br /> and "hereunder" and other words of similar import refer to this Contract as a whole and <br /> not to any particular Section or other subdivision unless the context indicates otherwise. <br /> Words importing the singular number will include the plural number and vice versa. The <br /> use of the term "including" should be understood to mean "including, but not limited to." <br /> 25 <br />