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<br />Initial Letter of Credit, fees and charges for execution, <br />transportation and safekeeping of Bonds, and other costs, <br />charges and fees in connection with the foregoing. <br /> <br />. <br /> <br />"Date of Issuance" means December 27, 1985. <br /> <br />"Escrow Fund" means the City of Santa Ana Community <br />Redevelopment Agency, Santa Ana South Main Street Redevelopment <br />Project Tax Allocation Bonds, 1985 Series D Escrow Fund created <br />pursuant to Section 12 hereof. <br /> <br />"Federal Securities" means direct obligations of the <br />United States of America or bonds or other obligations for <br />which the full faith and credit of the United States is pledged <br />for the payment of principal and interest thereon. <br /> <br />"Fiscal Agent" means Dai-Ichi Kangyo Bank of <br />California, appointed by the Agency pursuant to Section 20 <br />hereof, its successors and assigns, and any other corporation <br />or association which may at any time be substituted in its <br />place, as provided in this Resolution. Any reference herein to <br />the Fiscal Agent shall be deemed to include the paying agent of <br />the Fiscal Agent, Texas Commerce Bank, National Association in <br />New York, New York and any other agent appointed by the Fiscal <br />Agent to act on its behalf hereunder. <br /> <br />. <br /> <br />"Fund" or "Account" means the funds and accounts <br />created hereunder. <br /> <br />"Independent Financial Consultant," "Independent <br />Engineer", "Independent Certified Public Accountant" or <br />"Independent Redevelopment Consultant" means any individual or <br />firm engaged in the profession involved, appointed by the <br />Agency, and who, or each of whom, has a favorable reputation in <br />the field in which hisjher opinion or certificate will be <br />given, and: <br /> <br />(1) is in fact independent and not under domination <br />of the Agency; and <br /> <br />(2) does not have any substantial interest, direct or <br />indirect, with the Agency; and <br /> <br />(3) is not connected with the Agency as an officer or <br />employee of the Agency, but who may be regularly retained <br />to make reports to the Agency. <br /> <br />. <br /> <br />"Initial Letter of Credit" means the irrevocable <br />direct pay letter of credit issued by the Bank securing payment <br />of principal (except the principal amount of funds equal to the <br />amount held by the Fiscal Agent in the Escrow Fund and Debt <br />Service Reserve Account) and an amount equal to 191 days' <br />interest on the Bonds calculated at the rate of interest stated <br />in the Initial Letter of Credit. <br /> <br />12-02-85 <br />9564p/2281/01 <br /> <br />-3- <br />