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

Upon receipt from the Trustee of the immediately available funds from a Credit Facility which are
transferred to the Paying Agent pursuant to the 1991 Master Resolution, the Paying Agent shall deposit such money
in the Series 2010A Credit Facility Purchase Account for application to the Purchase Price of such 2010A Bonds to
the extent that the moneys on deposit in the Series 2010A Remarketing Proceeds Account shall not be sufficient.
Any amounts deposited in the Series 2010A Credit Facility Purchase Account for 2010A Bonds and not needed with
respect to any Purchase Date or Mandatory Purchase Date for the payment of the Purchase Price for any such 2010A
Bonds shall be immediately returned to the Credit Provider
Issuance of Variable Rate Bonds
The Supplemental Resolutions authorize the issuance of one or more Series of Variable Rate
Bonds under the 1991 Master Resolution, in the aggregate principal amounts specified in the applicable Series Sale
Resolutions. Variable Rate Bonds are authorized to be issued in the Auction Mode, Commercial Paper Mode, Daily
Mode, Fixed Rate Mode, Weekly Mode or Term Rate Mode (all as defined in the 1991 Master Resolution). This
Official Statement only contains information concerning the 2010A Bonds while in a Weekly Mode. Holders and
Potential Owners of the 2010A Bonds should not rely on this Official Statement for information concerning a change of
the 2010A Bonds to any Mode other than the Weekly Mode, but should look solely to the offering documents to be used
in connection with any such Mode change for a description of any other Mode.
For a description of the procedures for the determination of the interest rate, the procedures for a change in
Mode, the redemption provisions, the mandatory tender provisions and the optional tender provisions for any Series of
2010A Bonds in the Weekly Mode, see “DESCRIPTION OF THE 2010A BONDS – Weekly Mode Provisions” “ –
Redemption Provisions” and “ – Purchase Upon Demand of Owners; Mandatory Tender for Purchase” in this
Official Statement.
Mode Change
Subject to the provisions of the 1991 Master Resolution, the Commission may change the 2010A
Bonds from the Weekly Mode to another Mode.
Changes from Weekly Mode
Subject to the provisions of the 1991 Master Resolution, the Commission may change the 2010A
Bonds from the Weekly Mode to another Mode (except for the Fixed Rate Mode or the Auction Mode which are
described under the caption “–Change to Fixed Rate Mode” and “–Change to Auction Mode”), as follows.
No later than the 45th day (or such shorter time as may be agreed to by the Commission, the
Trustee, the Paying Agent and the Remarketing Agent) preceding the proposed Mode Change Date, the Commission
will give written notice to the Notice Parties of its intention to effect a change in the Mode from the Mode then
prevailing (the “Current Mode”) to another Mode (the “New Mode”) specified in such written notice as provided in
the 1991 Master Resolution, and, if the change is to a Term Rate Mode, the length of the initial Interest Period as set
by the Commission and whether or not the 2010A Bonds to be changed to the Term Rate Mode will be secured by a
Credit Facility (if it will be secured, then the initial Interest Period for the 2010A Bonds selected by the Commission
cannot extend beyond the Expiration Tender Date). Notice of the proposed change in Mode is required to be given
to the Owners as described under “DESCRIPTION OF THE 2010A BONDS–Optional and Mandatory Tenders for
Purchase –Mandatory Purchase on Mode Change Date” in this Remarketing Memorandum.
Prior to the effectiveness of any Mode change, the following conditions are required to be
satisfied: (i) the Mode Change Date is required to be a Business Day; and (ii) delivery of the following to the
Trustee, the Paying Agent and the Remarketing Agent, on or prior to the Mode Change Date: (a) in the case of a
change to a Term Rate Mode, a Favorable Opinion of Bond Counsel dated the Mode Change Date and addressed to
the Trustee, the Paying Agent and the Remarketing Agent; (b) a Rating Confirmation Notice; and (c) a Credit
Facility and/or a Liquidity Facility providing, collectively, for the payment of principal of, premium, if any, interest
on, and Purchase Price of the 2010A Bonds with a principal component equal to the principal amount of the 2010A
Bonds being changed, with an interest component in the case of such Credit Facility and/or Liquidity Facility equal
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