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85- 006350 (vii) interest on the Bonds for a reasonable period prior to construction and during construction; and (viii) any sums required to reimburse advances made for any of the above items or for any other costs incurred, including interim financing, and for work done, which are properly chargeable to the Project and permitted under the Act. "Floating Rate" shall mean the applicable fluctuating rate of interest on the Series 1985 Bonds equivalent to a percentage of the Prime Rate (computed on the basis of the actual number of days elapsed in a year of 360 days) determined as follows: 65• of Prime Rate for the period from date of delivery 9f the Series 1985 Bonds to November 30, 1988; 67t of Prime Rate for the period from December 1, 1988 to November 30, 1991; 691 of Prime Rate for the period from December 1, 1991, to November 30, 1995; 721 of Prime Rate for the period from December 1, 1995, to November 30, 1998; and 711 of Prime Rate for the period from December 1, 1998, to November 30, 2000. "Governing Body" means the County Board of Supervisors of Issuer. "Guaranty" means the Guaranty and Indemnification Agreement dated as of even date herewith by and between Company and the Original Purchaser, pursuant to which Company unconditionally guarantees the full payment of principal of, premium, if any, and interest on the Bonds and the performance of certain obligations of Company to be performed pursuant to this Agreement. "Indenture" means the Indenture of Trust, dated as of even date herewith between Issuer and First Interstate Bank of Des Moines, N.A., Des Moines, Iowa, as Trustee, pursuant to which the Bonds are authorized to be issued, including any indenture supplemental thereto. "Independent Counsel" means an attorney duly admitted to practice law before the highest court of any state of the United States and who is not a full -time employee of Issuer or Company. -5- L �J