Ordinance 2557-01 - Laserfiche WebLink

Fixed Rate Conversion Notice means the notice sent by the Registrar to the Registered Owners pursuant to Section 2.10 notifying the Registered Owners that a conversion to the Fixed Rate is to occur. Government Obligations has the meaning given to such term in RCW Chapter 39.53, as amended; provided that such obligations must be noncallable obligations issued or unconditionally guaranteed by the United States of America. Interest Accrual Period means the period during which a Bond accrues interest payable on any Interest Payment Date, commencing on the last Interest Payment Date to which interest has been paid (or, if no interest has been paid in such Mode, commencing on the date of original authentication and delivery of such Bond, or the Fixed Rate Conversion Date, as the case may be) to, but not including, the Interest Payment Date on which interest is to be paid. Notwithstanding anything to the contrary in the foregoing, the Interest Accrual Period for any Bank Bond shall begin on the date that Bond becomes a Bank Bond and shall end on the day immediately preceding the day that Bond ceases to be a Bank Bond. Interest Payment Date means: (a) with respect to Bonds in the Weekly Mode, the first Business Day of each month; (b) with respect to Bonds in the Fixed Mode, each June 1 and December 1; (c) with respect to Bank Bonds, as to that portion of the Purchase Price of the Bond paid by the Bank and constituting accrued interest, the date of purchase and thereafter, unless the Reimbursement Agreement is amended or replaced and thereafter specifies different payment dates, the first Business Day of each month, the applicable Maturity Date, the date of any optional redemption of a Bank Bonds and the date of any remarketing of those Bank Bonds; -7- P.\CMW\CMW4ZL 11/20/01