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"Commingled Fund" means any find or account of the City that contains both Gross <br />Proceeds of a series of obligations and amounts in excess of $25,000 that are not Gross Proceeds <br />of that issue if the amounts in the fund or account are invested and accounted for collectively, <br />without regard to the source of fiends deposited in the fund or account. <br />"Computation Date" means each date on which the Rebate Amount for a series of <br />obligations is required to be computed under Regulations §1.148 -3(e). In the case of a Fixed <br />Yield Issue, the first Computation Date shall not be later than 5 years after the Issuance Date of <br />the series of obligations. Subsequent Computation Dates shall be not later than 5 years after the <br />immediately preceding Computation Date for which an installment payment of the Rebate <br />Amount was paid. In the case of Variable Yield Issue, the first Computation Date shall be the <br />last day of any Bond Year irrevocably selected by the City ending on or before the fifth <br />anniversary of the Issuance Date of such issue and subsequent Computation Dates shall be the <br />last day of each Bond Year thereafter or each fifth Bond Year thereafter, whichever is <br />irrevocably selected by the City after the first date on which any portion of the Rebate Amount is <br />required to be paid to the United States. The final Computation Date is the date a series of <br />obligations is retired. <br />"Debt Service" means principal of and interest and any redemption premium on a series <br />of obligations. <br />"501(c)(3) Organization" means an organization described in Section 501(c)(3) and <br />exempt from tax under Section 501(a). <br />"Fixed Yield Issue" means a series of obligations of obligations the Yield on which is <br />fixed and determinable on the Issuance Date. <br />"Governmental Unit" means a state, territory or possession of the United States, the <br />District of Columbia, or any political subdivision thereof referred to as a "State or local <br />governmental unit" in Regulations §1.103 -1(a). " Govermnental Unit" does not include the <br />United States or any agency or instrumentality of the United States. <br />"Gross Proceeds" means Proceeds and Replacement Proceeds of a series of obligations. <br />"Hedge" means a contract entered into by the City primarily to modify the City's risk of <br />interest rate changes with respect to an obligation (e.g., an interest rate swap, an interest rate cap, <br />a fatures contract, a forward contract or an option). <br />"Higher Yielding Investments" means any Investment Property that produces a Yield that <br />(a) in the case of Investment Property allocable to Replacement Proceeds of a series of <br />obligations and Investment Property in a Refunding Escrow, is more than one thousandth of one <br />percentage point (.00001) higher than the Yield on the applicable issue, and (b) for all other <br />purposes of this Certificate, is more than one - eighth of are percentage point (.00125) higher than <br />the Yield on the applicable issue. <br />"Investment Proceeds" means any amounts actually or constructively received from <br />investing Proceeds of a series of obligations in Investment Property. <br />A -2 <br />