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RES 86533
City of Pleasanton
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RES 86533
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8/8/2012 2:25:17 PM
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12/17/1999 12:34:33 AM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
11/18/1986
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(ix) amounts received as a result of investin~ amounts <br /> described in this definition. <br /> <br /> (h) Investment Earnings Fund. The term "Investment <br />Earnings Fund" means the account hy that name created by, and <br />held hy the City pursuant to the provisions hereof. <br /> <br /> (i) Investment Property. The term "investment <br />property" means any security (as said term is defined in section <br />165(~)(2)(A) or (B) of the Code), obligation, annuity or <br />investment-type property, excluding, however, obligations the <br />interest on which is exempt from income tax under section 103 of <br />the Code. <br /> <br /> (J) Nonpurpose Obligation. The term "Nonpurpose <br />Obligation" means any Investment Property which is acquired with <br />the Gross Proceeds of the Bonds and is not acquired in order to <br />carry out the ~overnmental purpose of the Bonds. <br /> <br /> (k) Prior Bonds. The term "Prior Bonds" means the <br />prescribed portion of the improvement bonds of City of <br />Pleasanton which are hein~ refunded and called for redemption on <br />March 2, 198T, and on July 2, 1987, in the total principal <br />amount of $98,810,642.00 as a result of issuance of the Bonds. <br /> <br /> (1) Project. The term "Project" means the <br />construction, acquisition and installation of the authorized <br />public improvements as described in the legal proceedings for <br />Assessment District No. 1986-7, North Pleasanton Improvement <br />District No. 2. <br /> <br /> (m) Purchase Price. The term "Purchase Price," for <br />the purpose of computation of the Yield of the Bonds, has the <br />same meanin~ as the term "issue price" in sections 1273(b) and <br />1274 of the Code, and, in ~eneral, means the initial offerin~ <br />price to the public (not includin~ bond houses and brokers, or <br />similar persons or organizations actin~ in the capacity of <br />underwriters or wholesalers) at which price a substantial amount <br />of the Bonds are sold or, if the Bonds are privately placed, the <br />price paid hy the first buyer of the Bonds or the acquisition <br />cost of the first buyer. The term "Purchase Price," for the <br />purpose of computation of the Yield of Nonpurpose Obligations, <br />means the fair market value of the Nonpurpose Obligations on the <br />date of use of Gross Proceeds of the Bonds for acquisition <br />thereof, or if later, on the date that Investment Property <br /> <br /> <br />
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