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"Federal Securities" as used herein means direct, noncallable obligations of the United <br />States of America, including obligations that are unconditionally guaranteed by the United States <br />of America (including Interest Strips of the Resolution Funding Corporation). <br />"Fiscal Year" means the twelve-month accounting period used by the City in connection <br />with the operation of the System, currently ending on September 30 of each year, which may be <br />any twelve consecutive month period established by the City, but in no event may the Fiscal <br />Year be changed more than one time in any three calendar year period. <br />"Holder," "Holders," "Owners" or "Registered Owners" means any person or entity in <br />whose name a Bond is registered in the Security Register, for any Parity Obligation. <br />"Initial Bonds" means the Bonds authorized, issued, and initially delivered as provided in <br />Section 4 of this Ordinance. <br />"Insurance Policy" means an insurance policy issued by any Insurer guaranteeing the <br />scheduled principal of and interest on the Bonds when due. <br />"Interest and Sinking Fund" means the special fund maintained by the provisions of <br />Section 8 of this Ordinance. <br />"Interest Payment Date" means a date on which interest on the Bonds is due and payable. <br />"Issuance Date" means the date of delivery of a Series of Bonds. <br />WSRB" means the Municipal Securities Rulemaking Board. <br />"Ordinance" means this ordinance finally adopted by the City Council on September 3, <br />2019. <br />"Outstanding", when used with respect to Bonds, means, as of the date of determination, <br />all Bonds theretofore delivered under this Ordinance, except: <br />(1) Bonds theretofore cancelled and delivered to the City or delivered to the <br />Paying Agent/Registrar for cancellation; <br />(2) Bonds deemed paid pursuant to the provisions of Section 9 of this Ordinance; <br />(3) Bonds upon transfer of or in exchange for and in lieu of which other Bonds <br />have been authenticated and delivered pursuant to this Ordinance <br />(4) Bonds under which the obligations of the City have been released, discharged <br />or extinguished in accordance with the terms thereof. <br />"Permitted Investments" means any security or obligation or combination thereof <br />permitted under the Public Funds Investments Act, Chapter 2256, Texas Government Code, as <br />A-3 <br />San Marcos GORB2019 - Delegated: Ordinance <br />