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"Interest Payment Dates" means June 1 and December 1 of each year that the Bonds are <br />outstanding, commencing June 1, 2011. <br />"Mandatory Sinking Fund Redempfion" means the schedule(s) of the mandatory redemption <br />of Term Bonds set forth in the Certificate of Award. <br />"Mandatory Sinking Fund Redemption Dates" means those Principal Payment Dates set <br />forth in the Certificate of Award on which a portion of the principal amount of the Term Bonds are <br />required to be redeemed. <br />"MSRB" means the Municipal Securifies Rulemaking Board established by the SEC. <br />"Original Purchaser" means the original purchaser appointed by the Director of Finance in <br />the Certificate of Av,~ard. <br />"Outstanding Bonds" means the City's Various Purpose General Obligation Bonds, Series <br />1998 dated as of March 15, 1998 originally issued in the amount of $20,355,000. <br />"Participant" means any participant contracting with a Depository under a book entry <br />system and includes securities brokers and dealers, banks and trust companies, and clearing <br />corporations. <br />"Preliminary Official Statement" means the preliminary official statement of the City <br />relating to the issuance of the Bonds substantially in the form now on file with the Clerk of this <br />Council. <br />"Principal Payment Dates" means December 1 in each of the years from and including 2011 <br />to and including 2017; provided, however, that the first Principal Payment Date may be deferred <br />one year and the last Principal Payment Date may be advanced up to five years if such actions are <br />determined by the Director of Finance in the Certificate of Award to be in the best interest of and <br />financially advantageous to the City and further provided that in no case shall the last Principal <br />Payment Date exceed the maximum maturity of the Bonds. <br />"Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange Act <br />of 1934. <br />"SEC" means the Securities and Exchange Commission. <br />"Serial Bonds" means those Bonds designated as such and maturing on the Principal <br />Payment Dates set forth in the Certificate of Award. <br />"Specified Events" means the occurrence of any of the following events, within the meaning <br />of the Rule: principal and interest payment delinquencies; non-payment related defaults, if material; <br />unscheduled draws on debt service reserves reflecfing fmancial difficulties; unscheduled draws on <br />credit enhancements reflecting financial difficulties; substitution of credit or liquidity providers, or <br />