Official Statement Airport Commission City and County of San ...

Amortized Bonds means the maximum principal amount of any existing or proposed Commercial
Paper Program authorized by the Commission to be outstanding at any one time.
Annual Debt Service means the amount scheduled to become due and payable on the outstanding
Bonds or any one or more Series thereof in any Fiscal Year as (i) interest, plus (ii) principal at maturity, plus
(iii) mandatory sinking fund redemptions. For purposes of calculating Annual Debt Service, the following assumptions
shall be used:
(a) All principal payments and mandatory sinking fund redemptions shall be made as and when
the same shall become due;
(b) Outstanding Variable Rate Bonds shall be deemed to bear interest during any period after
the date of calculation at a fixed annual rate equal to the average of the actual rates on such
Bonds for each day during the 365 consecutive days (or any lesser period such Bonds have
been outstanding) ending on the last day of the month next preceding the date of
computation, or at the effective fixed annual rate thereon as a result of an interest rate swap
with respect to such Bonds;
(c) Variable Rate Bonds proposed to be issued shall be deemed to bear interest at a fixed
annual rate equal to the estimated initial rate or rates thereon, as set forth in a certificate of a
financial consultant dated within 30 days prior to the date of delivery of such Bonds, or at
the effective fixed annual rate thereon as a result of an interest rate swap with respect to
such Bonds;
(d) Amortized Bonds shall be deemed to be amortized on a level debt service basis over a 20year
period beginning on the date of calculation at the Index Rate;
(e) Payments of principal of and interest on Repayment Obligations shall be deemed to be
payments of principal of and interest on Bonds to the extent provided in the Resolution; and
(f) Capitalized interest on any Bonds and accrued interest paid on the date of initial delivery of
any series of Bonds shall be excluded from the calculation of Annual Debt Service if cash
and/or Permitted Investments have been irrevocably deposited with and are held by the
Trustee or other fiduciary for the owners of such Bonds sufficient to pay such interest.
Annual Service Payments means amounts paid to the City pursuant to the Charter, including but not
limited to the amounts paid pursuant to that certain Settlement Agreement, made and entered into as of July 1, 1981, by
and among the City and certain regular airline users of the Airport.
Authorized Denominations means with respect to a Series of Variable Rate Bonds in a Weekly
Mode, $100,000 and any integral multiple of $5,000 in excess thereof.
Bonds means any evidences of indebtedness for borrowed money issued from time to time by the
Commission by the Resolution or by Supplemental Resolution, including but not limited to bonds, notes, bond
anticipation notes, commercial paper, lease or installment purchase agreements or certificates of participation therein
and Repayment Obligations to the extent provided in the Resolution.
Business Day means, with respect to any Series of Variable Rate Bonds, a day on which the principal
office of the Trustee, any Paying Agent, the Remarketing Agents, the Credit Provider, if any, with respect to that Series
of Bonds, the Liquidity Provider, if any, with respect to that Series of Bonds, or banks or trust companies in New York,
New York, are not authorized or required to remain closed and on which the New York Stock Exchange is not closed.
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