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<br />5 <br /> <br />“Installment Payments” mean the aggregate amount of all the payments required to be <br />paid by the City pursuant to the Installment Purchase Contract, as set forth in Exhibit B to the <br />Installment Purchase Contract. <br /> <br />“Installment Purchase Contract” means the Installment Purchase Contract, dated as of <br />September 1, 2024, between the Authority and the City. <br /> <br /> “Moody’s” means Moody’s Investors Service, Inc., its successors and assigns. <br /> <br />“Net Proceeds” means, when used with respect to any insurance or condemnation award, <br />the proceeds from such insurance or condemnation award remaining after payment of all <br />reasonable expenses (including attorneys’ fees) incurred in the collection of such proceeds. <br /> <br />“Nominee” means (a) initially, Cede & Co., as nominee of DTC, and (b) any other nominee <br />of a Depository designated pursuant to Section 2.11 hereof. <br /> <br />“Outstanding” when used as of any particular time with reference to Bonds, means <br />(subject to the provisions of Section 8.02) all Bonds except: <br /> <br />(1) Bonds canceled by the Trustee; <br /> <br />(2) Bonds paid or deemed to have been paid within the meaning of Section <br />9.01; and <br />(3) Bonds in lieu of or in substitution for which replacement Bonds shall have <br />been executed and delivered hereunder. <br /> <br />“Owner” or “Bondowner” means the registered owner of any Outstanding Bond. “Payment <br />Fund” means the fund by that name established in Section 3.03 hereof. <br /> <br />“Permitted Investments” means any of the following, but only to the extent that the same <br />are acquired at Fair Market Value, which at the time of investment are legal investments under <br />the laws of the State of California for the moneys proposed to be invested therein (the Trustee is <br />entitled to conclusively rely upon any direction of the City or the Authority as a certification that <br />such investment constitutes a Permitted Investment and is a legal investment under the laws of <br />the State of California): <br /> <br />1. Direct obligations of the United States of America (including obligations issued or <br />held in book-entry form on the books of the Department of the Treasury, but excluding CATS and <br />TIGRS) or obligations the principal of and interest on which are unconditionally guaranteed by the <br />United States of America. <br /> <br />2. Bonds, debentures, notes or other evidence of indebtedness issued or guaranteed <br />by any of the following federal agencies and provided such obligations are backed by the full faith <br />and credit of the United States of America (stripped securities are only permitted if they have been <br />stripped by the agency itself): <br /> <br />Farmers Home Administration (FmHA) <br /> Certificates of beneficial ownership <br /> <br />Federal Housing Administration Debentures (FHA) <br />8.A. - Page 125 of 255 <br />753