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

Government Certificates means evidences of ownership of proportionate interests in future principal
or interest payments of Government Obligations, including depository receipts thereof. Investments in such
proportionate interests must be limited to circumstances wherein (i) a bank or trust company acts as custodian and
holds the underlying Government Obligations; (ii) the owner of the investment is the real party in interest and has the
right to proceed directly and individually against the obligor of the underlying Government Obligations; and (iii) the
underlying Government Obligations are held in a special account, segregated from the custodian's general assets, and
are not available to satisfy any claim of the custodian, or any person claiming through the custodian, or any person to
whom the custodian may be obligated.
Government Obligations means direct and general obligations of, or obligations the timely payment
of principal of and interest on which are unconditionally guaranteed by, the United States of America.
Holder, Bondholder, Owner and Bondowner mean the person or persons in whose name any Bond or
Bonds are registered on the records maintained by the Registrar or, in the case of bearer obligations, who hold any
Bond or Bonds, and shall include any Credit Provider to which a Repayment Obligation is then owed, to the extent that
such Repayment Obligation is deemed to be a Bond pursuant to the Resolution.
Independent Auditor means a firm or firms of independent certified public accountants with
knowledge and experience in the field of governmental accounting and auditing selected or employed by the City.
Index Rate means a fixed annual interest rate equal to the rate most recently published by The Bond
Buyer as the 25-Bond Revenue Index of revenue bonds maturing in 30 years, or a successor index designated by the
Commission.
Indexing Agent means Municipal Market Data, Boston, Massachusetts, a Thomson Financial
Services Company or its successor or a similar information service selected by the Commission if Municipal Market
Data ceases to exist.
Insolvent shall be used to describe the Trustee, any Paying Agent, Authenticating Agent, Registrar,
other agent appointed under the 1991 Master Resolution or any Credit Provider, if (a) such person shall have instituted
proceedings to be adjudicated a bankrupt or insolvent, shall have consented to the institution of bankruptcy or
insolvency proceedings against it, shall have filed a petition or answer or consent seeking reorganization or relief under
the federal Bankruptcy Code or any other similar applicable federal or state law, or shall have consented to the filing of
any such petition or to the appointment of a receiver, liquidator, assignee, trustee or sequestrator or other similar
official of itself or of any substantial part of its property, or shall fail to timely controvert an involuntary petition filed
against it under the federal Bankruptcy Code, or shall consent to the entry of an order for relief under the federal
Bankruptcy Code or shall make an assignment for the benefit of creditors or shall admit in writing its inability to pay its
debts generally as they become due; or (b) a decree or order by a court having jurisdiction in the premises adjudging
such person as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement,
adjustment or composition of or in respect of such person under the federal Bankruptcy Code or any other similar
applicable federal or state law or for relief under the federal Bankruptcy Code after an involuntary petition has been
filed against such person, or appointing a receiver, liquidator, assignee, trustee or sequestrator or other similar official
of such person or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, shall
have been entered and shall have continued unstayed and in effect for a period of 90 consecutive days.
Interest Accrual Period means the period during which a Series of Variable Rate Bonds accrues
interest payable on any Interest Payment Date applicable thereto. With respect to a Series of Variable Rate Bonds in a
Weekly Mode, the Interest Accrual Period shall commence on (and include) the last Interest Payment Date to which
interest has been paid (or, if no interest has been paid in such Mode, from (and including) the date of original
authentication and delivery of such Variable Rate Bond, or the Mode Change Date, as the case may be) to, but not
including, the Interest Payment Date on which interest is to be paid. If, at the time of authentication of any Variable
Rate Bond, interest is in default or overdue on the Variable Rate Bonds, such Variable Rate Bond shall bear interest
from the date to which interest has previously been paid in full or made available for payment in full on Outstanding
Variable Rate Bonds.
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