Res13 15263 - Laserfiche WebLink

Browse Search

"Business Day"means any day other than a Saturday, Sunday or legal holiday or a day on which banks are authorized to be closed for business in Califomia or on which the Principal Office of the Trustee is authorized to be closed. "Certificate of the Authority" means an instrument in writing signed by an Authorized Officer. "City" means the City of Redwood City, a charter city and municipal corporation duly organized and existing under its charter and the Constitution and laws of the State of California, and its successors and assigns. . "City Representative" means the Mayor, Vice-Mayor, City Manager, Assistant City Manager, Director of Finance, Treasurer or other duly authorized officer of the City. "Closing Date" means June 20,2013. "Continuing Disclosure Certificate" shall mean the certificate by that name, dated as of the Closing Date, from the Ciiy on behalf of itself and the Authority. "Debt Service" means, during any period of computation, the amount obtained for such period by totaling the following amount-- (a) The principal amount of all Outstanding serial Bonds and Parity Obligations coming due and payable by their terms in such period (except to the extent that such principal has been fully capitalized and is invested iri Federal Securities which mature at times and in such amounts as are necessary to pay the principal to which such amounts are pledged); (b) The minimum principal amount of all Outstanding term Bonds and Parity Obligations scheduled to be redeemed by operation of mandatoty sinking fund deposits in such period,together with any premium thereon(except to the extent that such principal has been fully capitalized and is invested in Federal Securities which mature at times and in such amounts as are necessary to pay the principal to which such amounts are pledged); and (c) The interest which would be due during such period on the aggregate principal amount of Bonds and Pazity Obligations which would be Outstand'ing in such period if the Bonds or Parity Obligations are retired as scheduled (except to the extent that such interest has been fully capitalized and is invested in Federal Securities which mature at times and in such amounts as are necessary to pay the interest to which such amounts are pledged), but deducting and excluding from such aggregate amount the amount of Bonds and Parity Obligations no longer Outstanding; provided that; whenever interest as described herein accrues at other than a fixed rate, such interest shall be assumed to be a rate equal to the greater of(i)the actual rate on the date of calculation, or if the Parity Obligation is not yet outstanding, the initial rate (if established and binding), (ii) if the Pazity Obligation k�as been outstanding for at least twelve months, the average rate over the twelve months immediately preceding the date of calculation, and (iii) (x) if interest on the Parity Obligation is excludable from gross income under the applicable provisions of the Internal Revenue Code, the most recently published The Bond Buyer Bond Revenue Index (or comparable index if no longer published) plus fifty(50) basis points, or -3- 338471 1.DOC