Ordinance 1963-93 - Laserfiche WebLink

The words "Nonrefunded 1985 Bonds" mean the outstanding Water and Sewer Revenue Bonds, 1985 of the City. The words "Nonrefunded 1988 Bonds" mean the outstanding 1988 Bonds maturing in the years 1996, 1997, 1998 and 1999 and $2,610,000 principal amount maturing in the year 2000. The words "Parity Bonds" mean the Nonrefunded 1985 Bonds, Nonrefunded 1988 Bonds, the 1992 Bonds, the 1993 Bonds and any water and sewer revenue bonds which the City may hereafter issue having a lien upon the Revenue of the System for the payment of the principal thereof and interest thereon equal to the lien upon the Revenue of the System of the Nonrefunded 1985 Bonds, Nonrefunded 1988 Bonds, the 1992 Bonds and the 1993 Bonds. "Payments" means: (a) Amounts actually or constructively paid to acquire an investment. (b) In the case of an investment that is first allocated to the 1993 Bonds or becomes subject to a rebate requirement on a date after it is actually acquired, the value of the investment at the beginning of the Computation Period. (c) In the case of an investment that was allocated to the 1993 Bonds at the end of the preceding Computation Period, the value of that investment at the beginning of the Computation Period. (d) On the last day of such Bond Year during which there are amounts allocated to the 1993 Bonds and subject to the rebate requirements, and on the final maturity date of the Bonds, a computation credit of$1,000. (e) Any Yield Reduction Payments. The words "Permitted Investments" mean (1) bonds, notes and other evidences of direct indebtedness of the United States of America and securities unconditionally guaranteed as to the timely payment of principal and interest by the United States of America; (2) obligations of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, Federal Intermediate Credit Banks, Federal Banks -6- FWW04E.DOC 93/10/29