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<br />12 <br />4846-5351-8811v3/200434-0005 <br />c. Investments of monies in reserve funds not payable upon demand shall be <br />restricted to maturities of five years or less. <br />To the extent that any of the requirements concerning Permitted Investments embodies a <br />legal conclusion, the Trustee shall be entitled to conclusively rely upon a certificate from the <br />appropriate party or an opinion from counsel to such party, that such requirement has been met. <br />“PERS” means the California Public Employees’ Retirement System. <br />“PERS Contract” has the meaning assigned that term in the Recitals to this Trust <br />Agreement. <br />“Principal Office of the Trustee” means the office of the Trustee at the address set forth in <br />Section 14.06 of this Trust Agreement, provided for transfer, exchange, registration, surrender and <br />payment of Bonds means care of the corporate trust operations office of U.S. Bank National <br />Association in St. Paul, Minnesota or such other office designated by the Trustee. <br />“Rating Agencies” means Moody's and S&P. <br />“Rating Category” means (a) with respect to any long-term rating category, all ratings <br />designated by a particular letter or combination of letters, without regard to any numerical modifier, <br />plus or minus sign or other modifier and (b) with respect to any short-term or commercial paper <br />rating category, all ratings designated by a particular letter or combination of letters and taking into <br />account any numerical modifier, but not any plus or minus sign or other modifier. <br />“Record Date” means the fifteenth day of each calendar month preceding any Interest <br />Payment Date, regardless of whether such day is a Business Day. <br />“Redemption Fund” means the Fund of that name established pursuant to Section 6.03 <br />hereof. <br />“Refunding Law” has the meaning assigned that term in the Recitals to this Trust <br />Agreement. <br />“Registrar” means, for purposes of this Trust Agreement, the Trustee or its successor or <br />assignee. <br />“Representation Letter” means the Letter of Representations from the City and the Trustee <br />to DTC with respect to the Bonds. <br />“Requisition” or “Written Requisition” means a Requisition or Written Requisition, <br />substantially in the form of Exhibit B hereto. <br />“Responsible Officer” means an officer of the Trustee assigned by the Trustee to administer <br />this Trust Agreement. <br />“Retirement Law” has the meaning assigned that term in the Recitals to this Trust <br />Agreement. <br />“Revenue Fund” means the Fund of that name established pursuant to Section 6.02 hereof.