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(c) Bonds in lieu of or in substitution for which other Bonds shall have been executed, issued and delivered by the City pursuant to this Resolution or any Supplemental Resolution. "Owner" or "Bond Owner", when used with respect to any Outstanding Bond, means the person in whose name the ownership of such Bond shall be registered on the Bond Registration Books. "Principal Office" means the main or principal office of the Agent in San Francisco, California handling its corporate trust business. "Prior Bonds" means the bonds designated "Improvement Bonds, City of Redwood City, Seaport Centre District" issued pursuant to the Prior Resolution. "Prior Resolution" mean Resolutions No. 10102 adopted by the Council on December 19, 1985. "Private Business Use" means use directly or indirectly in a trade or business carried on by a natural person or in any activity carried on by a person other than a natural person, excluding use by a governmental unit and use by any person as a member of the general public. "Proceeds", when used with reference to the Bonds, means the face amount of the Bonds, plus accrued interest and premium, if any, less original issue discount, if any. "Project" means the acquisition and improvements described in the Resolution of Intention and any changes and modifications thereto and approved thereto by the Council. "Purchase Price", for the purpose of computation of the Yield of the Bonds, has the same meaning as the term "issue price" in sections 1273(b) and 1274 of the Tax Code, and, in general, means the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which price a substantial amount of the Bonds are sold or, if the Bonds are privately placed, the price paid by the original purchaser of the Bonds or the acquisition cost of such original purchaser. The term "Purchase Price", for the purpose of computation of the Yield of Nonpurpose Investments, means the fair market value of the Nonpurpose Investments on the date of use of Gross Proceeds for acquisition thereof, or if later, on the date that Investment Property constituting a Nonpurpose Investment becomes a Nonpurpose Investment of the Bonds. "Rebate Fund" means the fund by that name established, held and administered by the Treasurer pursuant to Section 5.07 hereof. "Record Date" means, with respect to the Bonds, the fifteenth (15th) day immediately preceding an Interest Payment Date. "Redemption Fund" means the fund of that name established and held by the Treasurer pursuant to Section 4.04 hereof. -6- 11305