Resolution No. 4624 - Laserfiche WebLink

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on the first day of December which is at least six months after the final maturity date of the Interim Obligations and subsequent semiannual payments shall be due on the following first days of June and December of each year. (D) Bonds which are subject to contingent redemption or tender shall be treated as maturing on their stated maturity dates. "Base Period" means any twelve consecutive months selected by the City out of the most recent eighteen months preceding the delivery of a Series of Parity Obligations. "BEO" means "book-entry-only" and refers to a system for clearance and settlement of securities transactions through electronic book-entry changes, which eliminates the need for physical movement of securities. "Bond Counsel" means a law firm having knowledge and expertise in the field of municipal law and whose opinions are generally accepted by purchasers of municipal bonds. "Bond Reserve Account" means the Bond Reserve Account in the Municipal Airport Fund described in Section 3.3. "Bonds" means the Series 2000 Bonds and any Parity Obligations. "Business Day" means any day except a Saturday, a Sunday, a legal holiday, a day on which the offices of banks in Oregon or New York are authorized or required by law or executive order to remain closed, or a day on which the New York Stock Exchange is closed. "City Council" means the City Council of the City. "City Official" means the City Manager or the person designated by the City Manager to act on behalf of the City under this Master Resolution. "City" means the City of Eugene, in Lane County, Oregon, a municipal corporation of the State of Oregon. "Code" means the Internal Revenue Code of 1986, as amended, including the rules and regulations promulgated thereunder. "Credit Facility" means a letter of credit, a municipal bond insurance policy, a surety bond, standby bond purchase agreement or other credit enhancement device which is obtained by the City to secure Bonds, and which is issued or provided by a Credit Provider whose long-term debt obligations or claims-paying ability ( as appropriate) are rated one of the two highest rating categories by a Rating Agency which rated the Bonds secured by the Credit Facility. "Credit Provider" means a person or entity providing a Credit Facility. "Direct Obligations" means direct obligations of the United States, and any obligations the payment of which is fully and unconditionally guaranteed by the United States. Page 2 - Resolution March 23, 2000