Laserfiche WebLink
other document mentioned herein or therein have the meanings defined herein, the following <br />definitions to be equally applicable to both the singular and plural forms of any of the terms <br />defined herein. All capitalized terms used in this Installment Purchase Contract and not <br />defined herein shall have the meanings ascribed thereto in the Trust Agreement. <br /> <br /> "Accountant's Report" means a report signed by the Director of Finance of the <br />City. <br /> <br /> "Acquisition", "Acquire" or "Acquired" means, with respect to the Project, the <br />re~nancing of the Project. <br /> <br /> "Bonds" has the meaning set forth in the Trust Agreement. <br /> <br /> "Business Day" means any day other than a Saturday, Sunday or legal holiday <br />or a day on which banks are authorized to be closed for business in California. <br /> <br /> "Contracts" means all contracts (including installment purchase contracts, <br />leases and lease/purchase agreements) of the City authorized and executed by the City under <br />and pursuant to applicable law, the payments of which are on a parity with the payments of <br />the Installment Payments hereunder and the interest thereon and which are payable from <br />Revenues. <br /> <br /> "Debt Service" means, for any Fiscal Year, the sum of (1) the interest falling <br />due during such Fiscal Year on all Parity Bonds (which are outstanding under the documents <br />or agreements pursuant to which they were issued), assuming that all outstanding serial Parity <br />Bonds are retired as scheduled and that all outstanding term Parity Bonds are redeemed from <br />sinking fund payments as scheduled (except to the extent that such interest has been fully <br />capitalized and is invested in Federal Securities which mature at times and in such amounts as <br />are necessary to pay the interest to which such amounts are pledged), (2) the principal amount <br />of all serial Parity Bonds (which are outstanding under the documents or agreements pursuant <br />to which they were issued) falling due by their terms during such Fiscal Year, (3) the <br />minimum amount of term Parity Bonds (which are outstanding under the documents or <br />agreements pursuant to which they were issued) required to be paid or called and redeemed <br />during such Fiscal Year, together with the redemption premiums, if any, thereon, (4) the <br />payments and the interest thereon under Contracts related to certificates of participation or <br />other instruments which are outstanding under the documents or agreements pursuant to <br />which they were executed and delivered required to be paid during such Fiscal Year; provided <br />that, whenever interest as described herein accrues at other than a fixed rate, such interest <br />shall be assumed to be a rate equal to the greater of (i) 9.20% per annum or (ii) the 25 <br />Revenue Bond Index as most recently published in The Bond Buyer on or prior to the date of <br />calculation, and (5) the Installment Payments and the interest thereon (except to the extent that <br />interest has been fully capitalized and is invested in Federal Securities which mature at times <br />and in such amounts as are necessary to pay the interest to which such amounts are pledged) <br />required to be paid hereunder during such Fiscal Year. <br /> <br /> 2 <br /> 9406701W.LA I <br /> <br /> <br />