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"Debt Service" means the amount of interest and principal payable on the Bonds <br />scheduled to be paid during the period of computation, excluding amounts payable during such <br />period which relate to principal of the Bonds which are scheduled to be retired and paid before <br />the beginning of such period. <br />"Depository" means The Depository Trust Company, New York, NY, or any successor <br />thereof, the depository for the Bonds. <br />"Federal Securities" means any of the following which at the time of investment are legal <br />investments under the laws of the State of California for the moneys proposed to be invested <br />therein: <br />(i) Cash; and <br />(ii) Direct general obligations of the United States (including obligations issued or <br />held in book entry form on the books of the Department of the Treasury of the United States), or <br />obligations, the payment of principal of and interest on which is unconditionally guaranteed by <br />the United, States. <br />"Fiscal Agent" means U,S. Bank National Association, the Fiscal Agent appointed by the <br />City, acting as an independent fiscal agent with the duties and powers as herein expressly <br />provided, its successors and assigns, and any other corporation or association which may at any <br />time be substituted in its place, as provided in Section 7.01 hereof. <br />"Fiscal Year" means the twelve -month period extending from July I in a calendar year to <br />June 30 of the succeeding year, both dates inclusive. <br />"Improvement Fund" means the fund by that name established by Section 3.03(A) hereof. <br />"Independent Financial Consultant" means a firm of certified public accountants, a <br />financial consulting firm, a consulting engineering firm or an engineer which is not an employee <br />of, or otherwise controlled by, the City, <br />"Information Services" means the Electronic Municipal Market Access System of the <br />Municipal Securities Rulemaking Board at www.cmma.msrb.org; and, in accordance with then <br />current guidelines of the Securities and Exchange Commission, such other services providing <br />information with respect to called bonds as the City may designate in an Officer's Certificate <br />delivered to the Fiscal Agent. <br />"Interest Payment Dates" means March 2 and September 2 of each year, commencing <br />March 2, 2017. <br />"Investment Agreement" means one or more agreements with respect to the investment <br />of the proceeds of the Bonds to be entered into between the Fiscal Agent and an entity or entities <br />whose long term unsecured obligations are rated at the time of investment in either of the two <br />highest categories by Standard & Poor's. <br />0 <br />55B -24 <br />