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<br />"Closmg Date" means the date of the mltIal dehvery of and payment for the CertIficates <br /> <br />"Code" means the Internal Revenue Code of 1986, as amended, mcludmg apphcable regulatIons, <br />pubhshed ruhngs and court declSlons relatmg thereto <br /> <br />"ConstructIOn Fund" means the constructIOn fund estabhshed by SectIOn 8 01(a) of thIS Ordmance <br /> <br />"Defeasance Secuntles" means (i) Federal SecuntIes, (ii) noncallable obhgatIOns of an agency or <br />instrumentahty of the Umted States of Amenca, mcludmg obhgatIOns that are uncondItIonally guaranteed or <br />msured by the agency or mstrumentahty and that, on the date theCity CouncIl adopts or approves proceedmgs <br />authonzmg the issuance of refundmg bonds or otherwise provide for the fundmg of an escrow to effect the <br />defeasance of the CertIficates are rated as to mvestment quahty by a natIOnally recogmzed mvestment ratmg <br />firm not less than "AAA" or Its eqUIvalent, and (11i) noncallable obhgatIOns of a state or an agency or a county, <br />mumclpahty, or other pohtIcal subdlVlslOn of a state that have been refunded and that, on the date the CIty <br />Council adopts or approves proceedmgs authonzmg the Issuance of refundmg bonds or otherwIse proVIde for <br />the fundmg of an escrow to effect the defeasance of the CertIficates, are rated as to mvestment quahty by a <br />natIOnally recogmzed mvestment ratmg firm no less than "AAA" or Its eqUIvalent. <br /> <br />"DeSIgnated Payment/Transfer Office" means (i) with respect to the mitIal Paymg Agent/RegIstrar <br />named herem, ItS corporate trust office m Houston, Texas, and (ii) WIth respect to any successor Paymg <br />Agent/RegIstrar, the office of such successor deSIgnated and located as may be agreed upon by the CIty and <br />such successor <br /> <br />"DTC" means The DeposItory Trust Company of New York, New York, or any successor secuntIes <br />deposItory <br /> <br />"DTC PartIcIpant" means any broker, dealer, bank, trust company, clearing corporatIOn or certam <br />other organIzatIOns WIth CertIficates credIted to an account mamtamed on ItS behalf by DTC <br /> <br />"Event of Default" means any Event of Default as defined m Section 10 01 OfthIS Ordmance <br /> <br />"Federal SecuntIes" as used herem means dIrect, noncallable obhgations of the Umted States of <br />Amenca, mcludmg obhgatIOns that are uncondItIonally guaranteed by the Umted States of Amenca (mcludmg <br />Interest Stnps of the ResolutIOn Fundmg CorporatIOn) <br /> <br />"ImtIal CertIficate" means the Certificate described m SectIOn 3 04(d) and 6 02(d) <br /> <br />"Interest and Smkmg Fund" means the mterest and smkmg fund estabhshed by SectIOn 8,Ol(a) of thIS <br />Ordmance <br /> <br />"Interest Payment Date" means the date or dates upon whIch mterest on the CertIficates IS scheduled <br />to be paid until the maturity of the CertIficates, such dates being February 15 and August 15 of each year <br />commencmg February 15, 2008 <br /> <br />"Ordmance" means thIS Ordmance <br /> <br />San Marcos CTRCO 2007 Ordinance <br /> <br />2 <br />