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

Within the Purchase Fund (held by the Paying Agent, as agent for the Trustee)
Series 2010A Remarketing Proceeds Account
Series 2010A Credit Facility Purchase Account
Series 2010A Costs of Issuance Account
The 1991 Master Resolution requires the Trustee to apply moneys in the Series 2010A Costs of
Issuance Account to the payment of costs of issuance of the 2010A Bonds. Amounts in the Series 2010A Costs of
Issuance Account may be invested in any Permitted Investment.
Application of Series 2010A Debt Service Accounts
The Series 2010A Interest Account, the Series 2010A Principal Account and the Series 2010A
Redemption Account are sometimes referred to herein as the Series 2010A Debt Service Accounts. The Supplemental
Resolutions require the Trustee to apply moneys in the Series 2010A Interest Account to the payment of interest on the
2010A Bonds when due, including accrued interest on any 2010A Bonds purchased or redeemed prior to maturity. The
Supplemental Resolutions require the Trustee to apply moneys in the Series 2010A Principal Account to the payment
of the Principal Amount of the 2010A Bonds when due, and the payment of mandatory sinking fund payments on
Series 2010A Term Bonds.
The Commission may, from time to time, purchase any 2010A Bonds out of available moneys of the
Commission at such prices as the Commission may determine plus accrued interest thereon. At the discretion of the
Commission, the Trustee will apply mandatory sinking fund payments, as rapidly as may be practicable, to the
purchase of Series 2010A Term Bonds at public or private sale as and when and at such prices (including brokerage
and other expenses, but excluding accrued interest on 2010A Bonds, which is payable from the Series 2010A Interest
Account) as the Commission may in its discretion determine, but not to exceed the par value thereof. All 2010A Bonds
purchased or redeemed under the provisions of the 1991 Master Resolution will be delivered to, and canceled and
destroyed by, the Trustee and shall not be reissued.
The Trustee is required to apply moneys in the Series 2010A Redemption Account to the payment of
the redemption price of the 2010A Bonds called for redemption. Accrued interest on 2010A Bonds redeemed pursuant
to the 1991 Master Resolution will be paid from the Series 2010A Interest Account.
Series 2010A Credit Facility Account
The Supplemental Resolutions require the Trustee to deposit, or cause to be deposited, the proceeds
of Draws on the Credit Facility securing the 2010A Bonds made pursuant to the Supplemental Resolutions in the Series
2010A Credit Facility Account. Moneys in the Series 2010A Credit Facility Account shall be used and withdrawn by
the Paying Agent on each Interest Payment Date, Principal Payment Date and Redemption Date to pay the interest on
and principal of the 2010A Bonds (whether at maturity or redemption) secured by the Credit Facility. Amounts in the
Series 2010A Credit Facility Account shall be held uninvested.
Permitted Investments
Amounts in the Series 2010A Debt Service Accounts shall be invested in Permitted Investments
described in clauses (a) or (b) of the definition of Permitted Investments maturing on or before the Payment Date on
which the proceeds of such Permitted Investments are intended to be applied for the purposes of the Series 2010A
Debt Service Accounts to which such Permitted Investments are allocated. Amounts in any Series Reserve Account
shall be invested in Permitted Investments described in clauses (a) or (b) of the definition of Permitted Investments
maturing no later than seven years after the date of purchase of said Permitted Investment. Amounts in Series
Construction Accounts may be invested in any Permitted Investment. Amounts in the Series Escrow Funds shall be
invested as provided in the corresponding Series Escrow Agreements. Amounts in a Series Remarketing Proceeds
Account, and Credit Facility Purchase Account shall be held uninvested.
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