Ord 2007-035 - Laserfiche WebLink

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"Closing Date" means the date of the initial delivery of and payment for the Certificates. "Code" means the Internal Revenue Code of 1986, as amended, including applicable regulations, published rulings and court decisions relating thereto. "Construction Fund" means the construction fund established by Section 8.01(a) of this Ordinance. "Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an agency or instnunental~ty of the United States of Amenca, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the City Council adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Certificates are rated as to investment quality by a nationally recognized investment rating finn not less than "AAA" or its equivalent, and (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the City Council adopts or approves proceedings authonzing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Certificates, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent. "Designated Payment/Transfer Office" means (i) with respect to the initial Paying AgendRegistrar named herein, its corporate trust office in Houston, Texas, and (ii) with respect to any successor Paying Agent/Registrar, the office of such successor designated and located as may be agreed upon by the City and such successor. "DTC" means The Depository Trust Company of New York, New York, or any successor securities depository. "DTC Participant" means any broker, dealer, bank, trust company, clearing corporation or certain other organizations vv~th Certificates credited to an account maintained on its behalf by DTC. "Event of Default" means any Event of Default as defined in Section 10.01 of this Ordinance. "Federal Securities" as used herein means direct, noncallable obligations of the United States of America, including obligations that are unconditionally guaranteed by the United States of America (including Interest Strips of the Resolution Funding Corporation). "Initial Certificate" means the Certificate described in Section 3.04(d) and 6.02(d). "Interest and Sinking Fund" means the interest and sinking fund established by Section 8.01(a) of this Ordinance. "Interest Payment Date" means the date or dates upon which interest on the Certificates is scheduled to be paid until the maturity of the Certificates, such dates being February 15 and August 15 of each year commencing February 15, 2008. "Ordinance" means this Ordinance. san Marcos CTRCO 2007B: Ordinance