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Parity Debt shall be calculated assuming that such Parity Debt will be refunded and
<br />refinanced to mature over a 20 -year period with level principal requirements and bearing
<br />interest at then current market rates; provided, however, that to the extent permitted by law,
<br />if in the judgment of the Chief Financial Officer, as set forth in an Officer's Certificate
<br />delivered to the City, the result of the foregoing calculation is inconsistent with the
<br />reasonable expectations of the City, the interest on such Parity Debt shall be calculated in
<br />the manner provided in clause (5) of this definition and the maturity schedule shall be
<br />calculated in the manner provided in clause (2) of this definition; and
<br />(7) Credit Agreement Pa. ents. If the City has entered into a Credit Agreement in
<br />connection with an issue of Parity Debt, payments due under any such Credit Agreement
<br />(other than payments for fees and expenses) from either the City or the provider of a Credit
<br />Agreement shall be included in such calculation, except to the extent that the payments are
<br />already taken into account under clauses (1) through (6) above and any payments otherwise
<br />included under clauses (1) through (6) above which are to be replaced by payments under
<br />such a Credit Agreement, from either the City or the provider under a Credit Agreement,
<br />shall be excluded from such calculation.
<br />"Authorized Representative" means the City Manager, Assistant City Manager/Finance
<br />Director or such other individuals so designated by the City to perform the duties of an Authorized
<br />Representative under this Master Ordinance.
<br />"Bond Proceeds Account" has the meaning assigned to that term in Section 3(d) hereof.
<br />"Certified Public Accountant" means a certified public accountant or firm or corporation of
<br />certified public accountants, selected by the City, which in the case of an individual is not a member
<br />of the City Council or an employee of the City, and in the case of a firm or corporation does not
<br />have a partner, director, officer, or employee who is a member of the City or a director, officer, or
<br />employee of the City.
<br />"Chief Financial Officer" means the Assistant City Manager /Finance Director of the City or
<br />such other officer or employee of the City or such other individual so designated by the City to
<br />perform the duties of Chief Financial Officer under this Master Ordinance.
<br />"City" means the City of San Marcos, Texas.
<br />"Code" means the Internal Revenue Code of 1986, as amended, and the rulings, regulations,
<br />and procedures (including temporary, proposed, and final regulations and procedures) promulgated
<br />thereunder.
<br />"Credit Agreement" means, collectively, a loan agreement, revolving credit agreement,
<br />agreement establishing a line of credit, letter of credit, reimbursement agreement, insurance contract,
<br />commitments to purchase Debt, purchase or sale agreements, interest rate swap, cap and /or floor
<br />agreement or commitment, or other contract or agreement authorized, recognized, and approved by
<br />the City as a Credit Agreement in connection with the authorization, issuance, sale, resale, security,
<br />exchange, payment, purchase, remarketing, or redemption of Debt, the interest on Debt, or both.
<br />SanMARCOS \ElectricUtilSysRevBonds \2013: MasterOrdinance A -3
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