2023/04/05 Council Agenda Packet

occur within 90 days after the end of a fiscal year may be treated as occurring within such fiscal year. Rule means the Securities and Exchange Commission's Rule 15c2-12 under the Securities Exchange Act of 1934. S&P means S&P Global Ratings, Inc., its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, S&P shall be deemed to refer to any other nationally recognized securities rating agency (other than Moody's and Fitch) designated by the Finance Director - Treasurer. Savings Target means a positive value after subtracting the net present value of the debt service of the Refunding Bonds from the net present value of the debt service of the Refunded Bonds, net of allocable costs of issuance. SRF Loans mean the State Revolving Fund loans identified in the following chart. Issue Maturity Original Amount Bond Holder/Program Lender Date Date Amount Outstanding (1/1/23) DWSRF Clearwell No. 2 03/03/2006 10/01/2025 $ 4,040,000 $ 667,721 DWSRF Clearwell No. 2 12/21/2007 10/01/2026 4,040,000 850,526 DWSRF Clearwell No. 2 03/03/2008 10/01/2027 3,030,000 797,368 DWSRF Clearwell No. 2 08/22/2008 10/01/2029 4,040,000 1,279,917 SWSRF Recovered Water Outfall 08/05/2009 10/01/2029 1,376,473 507,149 DWRFL Bond Street CSO 10/13/2010 09/06/2033 1,994,497 1,194,400 Surety Bond means one or more of the surety bond(s), if any, issued by the Surety Bond Issuer on the date of issuance of the Bonds for the purpose of satisfying all or a portion of the Reserve Requirement; provided that the Surety Bond meets the requirements for "Qualified Insurance." There may be more than one Surety Bond. Surety Bond Agreement means any Agreement between the City and the Surety Bond Issuer with respect to the Surety Bond. -17- 506242089.1