81-144 Ordinance - Laserfiche WebLink

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"Eligible Investments" means (i) obligations issued or guaran- teed by the United States or Canada by any person controlled or super- vised by and acting as an instrumentality of the United States or Canada, (ii) obligations issued or guaranteed by any province, state or political subdivision thereof rated AAA by Moody's Investors Service, Inc. and by Standard & Poor's Corporation, both of New York, New York, or their successors; (iii) commercial or finance paper which is rated either P-1 or A-1 or an equivalent by Moody's Investors Service, Inc. and Standard & Poor's Corporation, both of New York, New York, or their successors; (iv) bankers' acceptances drawn on and accepted by banks or trust com- panies, including the Trustee or the Bank or any commercial bank affili- ated with the Trustee or the Bank, organized under the laws of Canada, the L'nited States of America or any province or state thereof, having a reported capital and surplus of at least $100,000,000 in dollars of the United States of America; (v) certificates of deposit of banks or trust companies, including the Trustee or the Bank or any commercial bank affiliated with the Trustee or the Bank, organized under the laws of Canada, or the United States of America or any province or state there- of, having a reported capital and surplus of at least $100,000,000 in dollars of the United States of America and having a AAA rating by Moody's Investors Services, Inc. and by Standard & Poor's Corporation or which certificates of deposit shall be collateralized by governmental obligations described in (i) and (ii) above; and (vi) repurchase agree- ments fully secured by obligations of the type specified in (i) above; provided that any such investment or deposit is not prohibited by ap- plicable law. "Executive Officer" and "Fiscal Officer" mean the Piayor and Director of Finance of the Issuer, respectively, and the officer who hereafter succeeds by operation of law to the powers and duties of any such officer. "Indenture" means the Trust Indenture between the Issuer and the Trustee, dated as of December 15, 1981, including this Bond Legisla- tion as part thereof, as the same may be duly amended or supplemented in accordance with the provisions thereof. "Interest Letter of Credit" means that Irrevocable Letter of Credit issued by the Bank in favor of the Trustee at the request and for the account of the Company, substantially in the form of Exhibit B attached to the Indenture, as the same may be duly amended or supple- mented in accordance with the provisions thereof. "Interest Payment Date" means as to the Project Bonds, the fifteenth day of each'June and December, commencing June 15, 1982, and continuing until the Project Bonds are fully paid, and, as to Additional Bonds, the dates identified as such in the Bond Legislation authorizing such Additional Bonds. "Interest Rate for Advances" means the rate of interest an- nounced from time to time by the Trustee as its "prime rate". "Legal Officer" means the Director of Law of the Issuer. BR-4