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NOW, THEREFORE, THE CITY EVERETT DOES ORDAIN AS FOLLOWS: <br /> Section 1. Definitions. As used in this ordinance, the following words shall have the <br /> following meanings, unless a different meaning clearly appears from the context: <br /> Arbitrage and Tax Certifications means the certificates executed by the Finance Director <br /> pertaining to the calculation and payment of any rebate amount with respect to the Notes. <br /> Bank means Bank of America, N.A., Seattle, Washington, and any business successor <br /> thereto. <br /> City means the City of Everett, Washington, a municipal corporation duly organized and <br /> existing under the laws of the State of Washington. <br /> City Clerk means the duly qualified, appointed and acting City Clerk of the City or any <br /> other officer who succeeds to the duties now delegated to that office. <br /> Code means the Internal Revenue Code of 1986, as amended, together with <br /> corresponding and applicable final, temporary or proposed regulations and revenue rulings <br /> issued or amended with respect thereto by the United States Treasury Department or the Internal <br /> Revenue Service, to the extent applicable to the Notes. <br /> Council means the general legislative authority of the City, as the same shall be duly <br /> constituted from time to time. <br /> Delivery Date means the date of issuance and delivery of a Note. <br /> Drawing means each advance made by the Bank under the 2004 Note. <br /> Finance Director means the duly qualified, appointed and acting Finance <br /> Director-Treasurer of the City or any other officer who succeeds to the duties now delegated to <br /> that office. <br /> -2- P:\CMW\CMW634 03/12/08 <br />