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<br />"Closmg Date" means the date of the mitial dehvery of and payment for the Certificates <br /> <br />"Code" means the Internal Revenue Code of 1986, as amended, mcludmg applicable regulations, <br />published rulings and court decisiOns relatmg thereto <br /> <br />"ConstructiOn Fund" means the construction fund established by SectiOn 8 OI(a) of this Ordmance <br /> <br />"Defeasance Secunties" means (i) Federal Secunties, (11) noncallable obligatiOns of an agency or <br />mstrumentality of the Umted States of Amenca, mcludmg obligatiOns that are unconditiOnally guaranteed or <br />insured 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 quality by a natiOnally recogmzed mvestlnent ratmg <br />firm not less than "AAA" or itS eqUivalent, and (iii) noncallable obligatiOns of a state or an agency or a county, <br />mumcipality, or other political subdiViSIOn 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 quality 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 />nalTled herem, itS corporate trust office 10 Houston, Texas, and (11) 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, cleanng 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 10 SectiOn 10 01 of this Ordmance <br /> <br />"Federal Secunties" as used herem means duect, noncallable obligatiOns of the Umted States of <br />Amenca, mcludmg obligatiOns that are unconditionally guaranteed by the Umted States of Amenca (includmg <br />Interest Stnps of the ResolutIOn Fundmg Corporation) <br /> <br />"Imtlal Certificate" means the Certificate described 10 SectiOn 3 04(d) and 6 02(d) <br /> <br />"Interest and Sinkmg Fund" means the mterest and sinkmg fund established by Section 8 01 (a) of this <br />Ordmance <br /> <br />"Interest Payment Date" means the date or dates upon which interest on the Certificates is scheduled <br />to be paid until the matunty 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 A. Ordinance <br /> <br />2 <br />