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2020_0518_CCPacket
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2020_0518_CCPacket
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Roseville City Council
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Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment B <br />Act of 1940, as amended, whose investment portfolio consists solely of (A) direct obligations of <br />the government of the United States of America, or (B) tax exempt obligations; (h)(i) tax-exempt <br />obligations rated in the highest short term rating category by MoodyÓs or S&P, or (ii) shares of a <br />tax-exempt municipal money market mutual fund or other collective investment fund registered <br />under the federal Investment Company Act of 1940, whose shares are registered under the federal <br />Securities Act of 1933, having assets of at least $100,000,000, and having a rating at the time of <br />investment of ÐAaaÑ/ÑAAAÑ by MoodyÓs or S&P (or if a new rating scale is implemented, the <br />equivalent rating category given by the Rating Agency for that general category of security), for <br />which at least 95% of the income paid to the holders on interest in such money market fund will <br />be excludable from gross income under Section 103 of the Code, including money market funds <br />for which the Fiscal Agent or its affiliates receive a fee for investment advisory or other services <br />to the fund; or (i) any other investments approved in writing by the Funding Lender <br />Representative. For purposes of this definition, the Ðhighest ratingÑ shall mean a rating at the time <br />of investment of at least ÐVMIG-1Ñ/ÑA-1+Ñ for obligations with less than one year maturity; at <br />least ÐAaaÑ/ÑVMIG-1Ñ/ÑAAAÑ/ÑA-1+Ñ for obligations with a maturity of one year or greater but <br />less than three years; and at least ÐAaaÑ/ÑAAAÑ for obligations with a maturity of three years or <br />greater. Qualified Investments must be limited to instruments that have a predetermined <br />fixed-dollar amount of principal due at maturity that cannot vary or change and interest, if tied to <br />an index, shall be tied to a single interest rate index plus a single fixed spread, if any, and move <br />proportionately with such index. <br />ÐRating AgencyÑ means MoodyÓs or S&P, as applicable, or any successor rating service <br />thereof. <br />ÐRebate AnalystÑ means a certified public accountant, financial analyst or bond counsel, <br />or any firm of the foregoing, or financial institution (which may include the Fiscal Agent) <br />experienced in making the arbitrage and rebate calculations required pursuant to Section 148 of <br />the Code, selected and retained by the Borrower at the expense of the Borrower, with the prior <br />written consent of the Governmental Lender, to make the rebate computations required under this <br />Funding Loan Agreement and the Project Loan Agreement. <br />ÐRebate FundÑ means the Rebate Fund established by the Fiscal Agent pursuant to <br />Section 4.01 hereof. <br />ÐRebate YearÑ means, with respect to the Governmental Note, each one-year period that <br />ends at the close of business on the day in the calendar year that is selected by Borrower as <br />indicated in the Tax Certificate. The first and last Rebate Years may be short periods. If no day is <br />selected by Borrower before the earlier of the Maturity Date or the date that is five years after the <br />Delivery Date, each Rebate Year ends on each anniversary of the Delivery Date and on the <br />Maturity Date or date of earlier payment in full of the Governmental Note. <br />ÐRefunding FundÑ means the Refunding Fund established by the Fiscal Agent pursuant to <br />Section 4.01 hereof. <br />ÐRequisitionÑ means, with respect to the Project Loan Fund, the requisition in the form of <br />Exhibit E to this Funding Loan Agreement required to be submitted in connection with <br />disbursements from the Project Account and/or the Borrower Equity Account of the Project Loan <br /> 14 <br />12502516v3 <br /> <br />
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