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