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<br />"Government Obligations" means direct noncallable obligations of the United States, or <br />obligations the principal of and interest on which are fully and unconditionally guaranteed by the <br />United States, or any other security which the Program Trust Agreement allows to be used as a <br />defeasance obligation. <br /> <br />"Outstanding" refers to all Bond Payments except Bond Payments that have been made or <br />defeased pursuant to Section 8 of this Bond Declaration. <br /> <br />"Payment Date" means a date on which Bond principal or interest are due, whether at maturity or <br />prior prepayment. <br /> <br />"Program Obligations" means the obligations issued by the Program Trustee under the Program <br />Trust Agreement which are payable from the Bond Payments and similar pension bond payments <br />issued by other participants in the pension bond program developed by Seattle-Northwest. <br /> <br />"Program Trust Agreement" means the Trust Agreement between the Program Trustee, the City <br />and other issuers of pension bonds which are sold to the Program Trustee, in which the Program <br />Trustee agrees to hold the Bond and distribute the Bond Payments to the owners of Program <br />Obligations. <br /> <br />"Program Trustee" means Wells Fargo Bank Northwest, National Association, as trustee under <br />the Program Trust Agreement, or its successors. <br /> <br />"Program" means the pooled pension bond program which was developed by Seattle-Northwest <br />Securities Corporation and is implemented through the Program Trust Agreement. <br /> <br />"Qualified Consultant" means an independent auditor, an independent financial advisor, or <br />similar independent professional consultant of recognized standing and having experience and <br />expertise in the analysis of defeasance escrows, who is selected by the City. <br /> <br />"Resolution" means City Resolution No. _, adopted on _, 2002, which authorizes the <br />execution of this Bond Declaration and the issuance and sale of the Bond. <br /> <br />"Seattle-Northwest" means Seattle-Northwest Securities Corporation, the developer of the <br />pension bond Program. <br /> <br />"Security Payments" has the meaning defined for that term in the Bond (See Appendix A). <br /> <br />Section 2. Bond Authorized. <br /> <br />(1) Pursuant to the Resolution and the Act the City hereby authorizes the issuance, sale and <br />delivery of its Limited Tax Pension Pool Bond, Series 2002, in accordance with this Bond <br />Declaration and in a principal amount of $_. The Bond shall be dated _, 2002, <br />shall bear interest which is payable on _ and _ of each year, commencing _, and <br />shall mature on the following dates in the following principal amounts: <br /> <br />Exhibit A, Page 2 <br />