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"Principal Office" means the main or principal office of the Agent in San Francisco, California handling its corporate trust business. "Prior Bonds" means the Series A Bonds and the Series B Bonds, collectively. "Prior Resolutions" mean, collectively, Resolutions Nos. 9885 and 10070, heretofore adopted by the Council on May 20, 1985 and November 18, 1985, respectively. "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 Prior Resolution. "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 whoiesalers) at which price a substantial amount ot the Bonds are sold or, if the Bonds are privately placed, the price paid by the original purchaser ot 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. "Redemption Price" means, with respect to any Bond, the principal amount thereof, plus the applicable premium, if any, payable upon redemption thereof pursuant to the Resolution as provided in Section 2.14 hereof. "Redemption Premium" means the applicable percentage of the principal amount of the Bonds as set forth in Section 2.14 hereof. -6- 11261