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200510856 "Building Bonds" - the $7,000,000 of Building Bonds (Library Project), Series 2005, issued hereunder. "City" - the City of Grand Island, in the County of Hall, in the State of Nebraska. "Code" - the Internal Revenue Code of 1986, as amended. "Construction Contract" — that Design/Build Contract between Owner and Design/Builder dated as of July _, 2005 by and between the Corporation and Mid Plains Construction Company, including any successor to such contractor as may be provided for in any payment or performance bond furnished by such contractor under the terms of said agreement. "Construction Fund" - the fund created by Section 6.01 of Article VI of this Indenture into which the net proceeds from the sale of the Building Bonds shall be deposited and out of which the disbursements are to be made in the manner and for the purposes specified in Sections 6.01, 6.02, 6.03 and 6.04 of Article VI of this Indenture. "Corporation" — Grand Island Facilities Corporation, a Nebraska nonprofit corporation. "Costs of Issuance Fund" -- the fund created by Section 6.05 of Article VI of this Indenture into which amounts from the proceeds of the Building Bonds required for payment of issuance expenses shall be deposited and out of which disbursements are to be made in the manner and for the purpose specified in Section 6.05 of Article VI of this Indenture. "Designated Office" — the designated corporate trust office of the Trustee which shall initially be in Lincoln, Nebraska, and which may be changed by notice in writing to the Corporation, the City and each registered owner of the bonds. "Government Obligations" - shall include the following: (a) U.S. Treasury Certificates, Notes and Bonds (including State and Local Government Series - "SLGS "); (b) Direct obligations of the Treasury which have been stripped by the Treasury itself; (c) Resolution Funding Corp (REFCORP)(only the interest component of REFCORP strips which have been stripped by request to the Federal Reserve Bank of New York in book entry form are acceptable); 4