55A - RESO - GAS TAX BONDS - Laserfiche WebLink

Home Browse Search

"Reserve Account" means the account by that name established and held by the Trustee pursuant to Section 4.03(d) hereof. ["Reserve Policy" means the municipal bond debt service reserve insurance policy issued by the Insurer as Policy Number in the stated amount of S deposited into the Reserve Account relating to the Series 2019 Bonds.] "Reserve Requirement" means, with respect to the Series 2019 Bonds, as of any date of calculation, the least of (i) ten percent (10%) of the original par amount of the Series 2019 Bonds, (ii) Maximum Annual Debt Service with respect to the Series 2019 Bonds, or (iii) 125% of average annual Debt Service on the Series 2019 Bonds; provided, however, that the Reserve Requirement shall not exceed the Reserve Requirement calculated on the Closing Date; and provided, further that the City may meet all or a portion of the Reserve Requirement by depositing a Qualified Reserve Account Credit Instrument meeting the requirements of Section 4.03(d) hereof. "S&P" means S&P Global Ratings, a Standard & Poor's Financial Service LLC business, and its successors or assigns, except that if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, then the term "S&P" shall be deemed to refer to any other nationally recognized securities rating agency selected by the City. "Series 2019 Bonds" means the City of Santa Ana Gas Tax Revenue Refunding Bonds, Series 2019, issued and at any time Outstanding hereunder. "State" means the State of California. "Supplemental Indenture" means any supplement or amendment to this Indenture which complies with the provisions of Section 7.01 or 7.02. "Tax Code" means the Internal Revenue Code of 1986 as in effect on the date of issuance of the Bonds or (except as otherwise referenced herein) as it may be amended to apply to obligations issued on the date of issuance of the Series 2019 Bonds, together with applicable proposed, temporary and final regulations promulgated, and applicable official public guidance published, under the Tax Code. "Term Bonds" means the Series 2019 Bonds maturing on January 1, "Trustee" means U.S. Bank National Association, appointed by the City to act as trustee hereunder pursuant to Section 6.01, and its assigns or any other corporation or association which may at any time be substituted in its place, as provided in Article VI. "2007 Certificates" means the $68,010,000 original principal amount Gas Tax Revenue Certificates of Participation (Street Improvement Program Project). "2007 Trust Agreement" means the Trust Agreement, dated as of December 1, 2007, among the 2007 Trustee, the City, and the Authority. 55394.00055\32329348.3 5 54-2 5