Agenda - Council - 08/13/2013 - Laserfiche WebLink

Home

"Original Purchaser" means, with respect to the Bonds, Dougherty & Company, LLC, as the underwriter of the Bonds. "Outstanding" means Bonds which have been authenticated and delivered by the Trustee under the Indenture, except: (a) Bonds canceled after purchase in the open market or because of payment at or redemption prior to maturity; (b) Bonds for the payment or redemption of which cash funds or noncallable Governmental Obligations have been theretofore deposited with the Trustee in accordance with the discharge of lien article of the Indenture; and (c) Bonds in lieu of which others have been authenticated under the Indenture. "Payment Datc" means 1 of each year commencing 1, 2014. "Permitted Encumbrances" means, as of any particular time, "permitted encumbrances" as defined in the Mortgage. "Permitted Investments" means the following investments, if and to the extent the same are legal for investment, with regard to any moneys held as part of the Bond Fund, the Revenue Fund, the Reserve Fund, the Project Fund, the Capital Improvement Fund, the Expense Fund, the Costs of Issuance Fund, or any other fund held by the Trustee pursuant to the Indenture: (a) bills, certificates of indebtedness, notes, bonds or similar securities which are direct obligations of, or the principal and interest of which arc unconditionally guaranteed by, the United. States of America; (b) direct and general obligations of any state of the United States of America or any municipality or political subdivision of such state, or obligations of any corporation, if such obligations are in one of the two highest rating categories by Standard & Poor's Corporation or Moody's Investors Service, or, upon the discontinuance of either or both of such rating agencies, any other nationally recognized rating service; (c) negotiable or non-negotiable certificates of deposit, time deposits, or other similar banking arrangements, issued by any nationally or state -chartered bank (including the Trustee) or trust company or any savings and loan association, domiciled in the State, if either (i) the Long-term obligations of such bank or trust company are rated in one of the two highest rating categories by Standard & Poor's Corporation or Moody's Investors Service, or, upon the discontinuance of either or both of such rating services, any other nationally recognized rating service or (ii) the deposits are continuously secured as to principal, but only to the extent not insured by the Federal Deposit Insurance Corporation, or similar corporation chartered by the United States of America, (1) by lodging with a bank or trust company, as collateral security, obligations described in paragraph (a) or (b) above or, with the approval of the Trustee, other marketable securities eligible as security for the deposit of trust funds under applicable regulations of the Comptroller of the Currency of the United States of America or applicable state law or regulations, having a market value (exclusive of accrued interest) not less than the E-8