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Bank Interest Rate means the rate of interest payable with respect to Bank Bonds, which <br /> rate of interest shall be determined in accordance with the provisions of the Reimbursement <br /> Agreement. The Bank Interest Rate shall not be subject to the Maximum Rate. <br /> Bank Purchase Subaccount means the subaccount by that name created within the <br /> Purchase Account in accordance with Section 4.04 hereof. <br /> Beneficial Owner means any person that has or shares the power, directly or indirectly, to <br /> make investment decisions concerning ownership of any Bonds (including persons holding <br /> Bonds through nominees, depositories or other intermediary). <br /> BMA Municipal Swap Index means the Bond Market Association Municipal Swap <br /> Index as of the most recent date for which such index was published or such other weekly, <br /> high-grade index comprised of seven-day, tax-exempt variable rate demand notes produced by <br /> Municipal Market Data, Inc., or its successor, or as otherwise designated by the Bond Market <br /> Association; provided, however, that, if such index is no longer produced by Municipal Market <br /> Data, Inc. or its successor, then BMA Municipal Swap Index shall mean such other reasonably <br /> comparable index selected by the Finance Director-Treasurer. <br /> Bond or Bonds means the City of Everett, Washington, Variable Rate Demand Limited <br /> Tax General Obligation Bonds, 2001, issued pursuant to this ordinance. <br /> Bond Counsel means a firm of lawyers nationally recognized and accepted as bond <br /> counsel and so employed by the City for any purpose under this ordinance applicable to the use <br /> of that term. <br /> Bond Fund means the Bond Redemption Fund maintained pursuant to Section 5.01 of <br /> this ordinance. <br /> -3- P\CMW\CMW4ZL 11/20/01 <br />