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

payment agreement with the United States of America; or (iii) state or public agency or municipality obligations rated
in the highest credit rating category by at least two Rating Agencies.
(l) Shares of a diversified open-end management investment company, as defined in the
Investment Company Act of 1940, as amended, or shares in a regulated investment company, as defined in
Section 851(a) of the Code, that is a money market fund that has been rated in the highest rating category by at least
two Rating Agencies.
(m) Money market accounts of any state or federal bank, or bank whose holding parent
company is, rated in the top two short-term or long-term rating categories by at least two Rating Agencies.
(n) Investment agreements the issuer of which is rated in one of the two highest rating
categories by at least two Rating Agencies.
(o) Shares in a California common law trust established pursuant to Title 1, Division 7,
Chapter 5 of the Government Code of the State of California which invests exclusively in investments otherwise
permitted in paragraphs (a) through (m) above.
(p) Any other debt or fixed income security specified by the Commission (except securities of
the City and any agency, department, commission or instrumentality thereof other than the Commission) and rated in
the highest category by at least two Rating Agencies.
(q) Bankers acceptances of a banking institution rated in the highest short-term rating category
by at least two Rating Agencies, not exceeding 270 days maturity or 40% of moneys invested pursuant to the 1991
Master Resolution. No more than 20% of moneys invested pursuant to the 1991 Master Resolution shall be invested in
the bankers acceptances of any one commercial bank pursuant to this paragraph (q).
Principal Amount means, as of any date of calculation, (i) with respect to any capital appreciation
Bond or compound interest Bond, the accreted value thereof, and (ii) with respect to any other Bonds, the stated
principal amount thereof.
Principal Payment Date means any May 1 upon which the principal amount of Variable Rate Bonds
is due, including any Maturity Date, any Serial Maturity Date, any Mandatory Sinking Fund Redemption Date or any
redemption date.
Purchase Date means, with respect a Series of Variable Rate Bonds in the Weekly Mode, any
Business Day selected by the Owner of any Variable Rate Bond of such Series pursuant to the provisions of the 1991
Master Resolution.
Purchase Price means (i) an amount equal to the principal amount of any Variable Rate Bonds of a
Series purchased on any Purchase Date, plus, in the case of any purchase of Variable Rate Bond of a Series in the Daily
Mode, Weekly Mode or Term Rate Mode, accrued interest, if any, to the Purchase Date, or (ii) an amount equal to the
principal amount of any Variable Rate Bond of a Series purchased on a Mandatory Purchase Date, plus, accrued
interest, if any, to the Mandatory Purchase Date.
Rate Determination Date means the date on which the interest rate or rates, as applicable, on a Series
of Variable Rate Bonds shall be determined, which, in the case of the Weekly Mode, shall be each Tuesday,
Wednesday or Thursday (as determined by the Commission in a Series Sale Resolution or Supplemental Resolution),
or, if any such Tuesday, Wednesday or Thursday is not a Business Day, the next succeeding day or, if such day is not a
Business Day, then the Business Day next preceding such Tuesday, Wednesday or Thursday. With respect to the
2010A Bonds in the Weekly Mode, the Commission has selected each Tuesday as the Rate Determination Date, subject
to the provisions described in the preceding sentence.
C-9