Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
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the Trustee for cancellation; (b) Bonds which are deemed paid <strong>and</strong> no longer Outst<strong>and</strong>ing as provided in the 1991<br />
Master Resolution or in any Supplemental Resolution authorizing the issuance there<strong>of</strong>; (c) Bonds in lieu <strong>of</strong> which<br />
other Bonds have been issued pursuant to the provisions <strong>of</strong> the 1991 Master Resolution or <strong>of</strong> any Supplemental<br />
Resolution authorizing the issuance there<strong>of</strong>; <strong>and</strong> (d) for purposes <strong>of</strong> any consent or other action to be taken under the<br />
1991 Master Resolution by the Holders <strong>of</strong> a specified percentage <strong>of</strong> Principal Amount <strong>of</strong> Bonds <strong>of</strong> a Series or all<br />
Series, Bonds held by or for the account <strong>of</strong> the <strong>Commission</strong>.<br />
Participating Series means the Issue 1 Bonds <strong>and</strong> any Series <strong>of</strong> Bonds designated by Supplemental<br />
Resolution as being secured by the Issue 1 Reserve Account.<br />
Paying Agent means, with respect to the 2010A Bonds, The Bank <strong>of</strong> New York Mellon Trust<br />
Company, N.A., <strong>and</strong> its successors <strong>and</strong> assigns <strong>and</strong> any other person or entity which may at any time be substituted<br />
for it.<br />
Permitted Investments means <strong>and</strong> includes any <strong>of</strong> the following, if <strong>and</strong> to the extent the same are at<br />
the time legal for the investment <strong>of</strong> the <strong>Commission</strong>'s money:<br />
(a) Government Obligations <strong>and</strong> Government Certificates.<br />
(b) Obligations issued or guaranteed by any <strong>of</strong> the following:<br />
(i)<br />
(ii)<br />
(iii)<br />
(iv)<br />
(v)<br />
(vi)<br />
(vii)<br />
(viii)<br />
(ix)<br />
(x)<br />
(xi)<br />
(xii)<br />
(xiii)<br />
Federal Home Loan Banks System;<br />
Export-Import Bank <strong>of</strong> the United States;<br />
Federal Financing Bank;<br />
Government National Mortgage Association;<br />
Farmers Home Administration;<br />
Federal Home Loan Mortgage Corporation;<br />
Federal Housing Administration;<br />
Private Export Funding Corporation;<br />
Federal National Mortgage Association;<br />
Federal Farm Credit System;<br />
Resolution Funding Corporation;<br />
Student Loan Marketing Association; <strong>and</strong><br />
any other instrumentality or agency <strong>of</strong> the United States.<br />
(c) Pre-refunded municipal obligations rated in the highest rating category by at least two<br />
Rating Agencies <strong>and</strong> meeting the following conditions:<br />
(i) such obligations are: (A) not subject to redemption prior to maturity or the<br />
Trustee has been given irrevocable instructions concerning their calling <strong>and</strong> redemption, <strong>and</strong> (B) the issuer <strong>of</strong><br />
such obligations has covenanted not to redeem such obligations other than as set forth in such instructions;<br />
(ii) such obligations are secured by Government Obligations or Government<br />
Certificates that may be applied only to interest, principal <strong>and</strong> premium payments <strong>of</strong> such obligations;<br />
(iii) the principal <strong>of</strong> <strong>and</strong> interest on such Government Obligations or Government<br />
Certificates (plus any cash in the escrow fund with respect to such pre-refunded obligations) are sufficient to<br />
meet the liabilities <strong>of</strong> the obligations;<br />
(iv) the Government Obligations or Government Certificates serving as security for the<br />
obligations have been irrevocably deposited with <strong>and</strong> are held by an escrow agent or trustee; <strong>and</strong><br />
(v) such Government Obligations or Government Certificates are not available to<br />
satisfy any other claims, including those against the trustee or escrow agent.<br />
C-7