Laserfiche WebLink
<br />"Certificate" means the City's certificate of obligation entitled "City of San Marcos, Texas, <br />Combination Tax and Revenue Certificate of Obligation, Series 2008A" authorized to be issued by <br />Section 3.01 of this Ordinance. <br />"Closing Date" means the date of the initial delivery of and payment for the Certificate. <br />"Code" means the Internal Revenue Code of 1986, as amended, including applicable <br />regulations, published rulings and court decisions relating thereto. <br />"Construction Fund" means the construction fund established by Section 8.01(a)(ii) of this <br />Ordinance. <br />"Defeasance Securities" means (1) Federal Securities, (ii) noncallable obligations of an agency <br />or instrumentality of the United States of America, including obligations that are unconditionally <br />guaranteed or insured by the agency or instrumentality and that, on the date the City Council adopts <br />or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the <br />funding of an escrow to effect the defeasance of the Certificates are rated as to investment quality by <br />a nationally recognized investment rating firm not less than "AAA" or its equivalent, and (iii) <br />noncallable obligations of a state or an agency or a county, municipality, or other political subdivision <br />of a state that have been refunded and that, on the date the City Council adopts or approves <br />proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an <br />escrow to effect the defeasance of the Certificates, are rated as to investment quality by a nationally <br />recognized investment rating firm no less than "AAA" or its equivalent. <br />"Designated Payment/Transfer Office" means (i) with respect to the initial Paying <br />Agent/Registrar named herein, its designated office in Dallas, Texas, and (ii) with respect to any <br />successor Paying Agent/Registrar, the office of such successor designated and located as may be <br />agreed upon by the City and such successor. <br />"Event of Default" means any Event ofDefault as defined in Section 10.01 of this Ordinance. <br />"Federal Securities" as used herein means direct, noncallable obligations of the United States <br />of America, including obligations that are unconditionally guaranteed by the United States of America <br />(including Interest Strips of the Resolution Funding Corporation). <br />"Initial Certificate" means the Certificate described in Section 3.04(d) and 6.02. <br />"Interest and Sinking Fund" means the interest and sinking fund established by Section 8.01(a) <br />of this Ordinance. <br />"Interest Payment Date" means the date or dates upon which interest on the Certificates is <br />scheduled to be paid until the maturity of the Certificates, such dates being February 15 and August <br />15 of each year commencing February 15, 2009. <br />San Marcos CTRCO 2008A: Ordinance 2