1990 RES R-07-90 - Laserfiche WebLink

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advertising and posting of notices, and initial fees of the Fiscal Agent and its counsel. "Debt Service Year" means the year ending each September 1 while the Bonds remain Outstanding. "Fiscal Aaent" means Union Bank and any other bank or trust company which may be substituted in its place as provided in Section 8.11. "Government Obliaations" shall mean and include any of the following securities, if and to the extent the same are at the time legal for investment of the Community Facilities District's funds: direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America, including obligations issued or held in book entry form on the books of the Department of the Treasury of the United States of America and including a receipt, certificate or any other evidence of an ownership interest in an aforementioned obligation, or in specified portions thereof (which may consist of specified portions of interest thereon) and also including advance refunded tax-exempt bonds secured by the aforementioned obligations. For the purposes of Section 8.10, Government Obligations shall mean and include only such securities as are described in the preceding sentence which: (x) shall not be subject to redemption prior to their maturity other than at the option of the owner thereof unless the moneys to be available from the redemption of such securities on the earliest date on which such securities are subject to redemption, other than at the option of the owner thereof, shall be at least equal to the amount of money expected to be derived in connection with such securities in determining that the provisions of clause (B) of Section 8.10 have been satisfied, and (y) which are then permitted to be applied as provided in Section 8.10 under applicable law. "Holdino Account" means the account by that name as described in Section 3.02(B)(4). "Indeoendent Financial Consultant" means a financial consultant or firm of such consultants generally recognized to be well qualified in the financial consulting field, appointed and paid by the Legislative Body and satisfactory to and approved by the Fiscal Agent (which shall be under no liability by reason of such approval, such approval to be not unreasonably withheld) and who, or each of whom: (1) is in fact independent and not under the domination of the City or the Community Facilities District; -4-