106-83 Bonds for Hospial - Laserfiche WebLink

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composition of the issues included in the Interest Index and if it believes changes are appropriate, make such changes in the composition of the issues in the Interest Index as will effect such purpose. (d) If the conditions of neither paragraph (a) nor (b) are met, or if the Indexing Agent no longer computes, or fails to compute, the Interest Index and no other municipal securities evaluation service has been appointed by the Issuer, the Interest Index will be determined by the Trustee, and will be equal to 75% of the bond equivalent yield of thirteen-week United States Treasury bills determined on the basis of the average per annum discount rate at which such thirteen-week Treasury bills shall have been sold at the most recent Trea- sury auction held during the seventeen Business Days next preceding the tenth Business Day preceding the beginning of the Interest Period, or, if no such auction shall have been conducted during such seventeen Business Days, the bond equiv- alent yield of thirteen-week United States Treasury bills will be determined on the basis of the arithmetic average of the mean between the closing bid and asked per annum market dis- count rates for the issue of Treasury bills with a maturity date closest to 91 days from the date of quotation (selecting the bills with the earlier maturity in the case of two issues with maturity dates equally close to 91 days), as reported daily on a composite basis by the Federal Reserve Bank of New York for the tenth, eleventh and twelfth Business Days next preceding the first day of such Interest Period. "Interest Payment Date" or "interest payment date" means, as to the Series 1983 Bonds, the fifteenth day of each April and October, commencing April 15, 1984, and, as to Additional Bonds, the date or dates identified as such in the Bond Legislation authorizing such Additional Bonds. "Interest Period" means, initially, the period from and including October 15, 1983, to and including April 14, 1984, and thereafter each period from and including the most recent Interest Payment Date to and including the day next preceding the next succeeding Interest Payment Date. "Issuer" means the City of Lakewood, Ohio. "Legal Officer" means the Director of Law of the Issuer. "Legislative Authority" means the Council of the Issuer. "Letter of Credit" means (a) the irrevocable Letter of Credit to be dated no later than the date of issuance and delivery of the Series 1983 Bonds, from the Bank in favor of the Trustee, issued at the -9-