55B - RESO - WARNER ASSESSMENT DISTRICT

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"Proceeds," when used with reference to the Bonds, means the aggregate principal amount of the Bonds, plus accrued interest and premium, if any, less original issue discount, if any, less underwriter's discount. "Project" means the public improvements within and for the Assessment District as described in the Resolution of Intention. "Rebate Certificate" means the certificate delivered by the City upon the delivery of the Bonds relating to Section 148 of the Code, or any functionally similar replacement certificate. "Rebate Fund" means the fund by that name established by Section 6.02 hereof. "Record Date" means the fifteenth (15th) day of the month next preceding the applicable Interest Payment Date whether or not such day is a Business Day. "Redemption Fund" means the fund by that name established by Section 4.02(A) hereof. "Regulations" means the temporary and permanent regulations of the United States Department of the Treasury promulgated under the Code. "Reserve Fund" means the fund by that name established by Section 4.03(A) hereof. "Reserve Requirement" means on any date in any Bond Year the lesser of (i) 10 percent (10 %) of the issue price of the Bonds as defined in the Regulations, (ii) Maximum Annual Debt Service, or (iii) 125 percent (125 %) of average Annual Debt Service. "Resolution" means Resolution No. , adopted by the City Council on, June 21, 2016. "Resolution of Intention" means Resolution No. 2015 -30 adopted by the City Council on July 7, 2015. "Securities Depositories" means The Depository Trust Company, 55 Water Street, 50th Floor, New York, New York, 10041 -0099, Call Notification Department, Fax (212) 855 -7232; and, in accordance with then current guidelines of the Securities and Exchange Commission, such other securities depositories as the City may designate in an Officer's Certificate delivered to the Fiscal Agent. "Standard & Poor's" shall mean Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc., a national rating service with offices in New York, New York. ARTICLE II THE BONDS Section 2.01 Principal Amonit Desienation. The Bonds in the aggregate principal amount of $ are hereby authorized to be issued by the City for the Assessment District under and subject to the terms of the Resolution, this Agreement, the Improvement Bond Act of 1915 and. other applicable laws of the State of California. The Bonds shall be designated -10- 55B -30