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"Bond Re~ister" means the books for the registration, transfer and exchange of Bonds kept at the <br />office of the Paying Agent. <br /> <br /> "Bondowner" or "Registered Owner" when used with respect to any Bond means the Person in <br />whose name such Bond is registered on the Bond Register. <br /> <br /> "Bonds" means the General Obligation Bonds, Series 1994, authorized and issued by the City <br />pursuant to this Ordinance. <br /> <br /> "Business Day" means a day other than a Saturday, Sunday or holiday on which the Paying Agent <br />is scheduled in the normal course of its operations to be open to the public for conduct of its banking <br />operations. <br /> <br /> "City" means the City of University City, Missouri, and any successors or assigns. <br /> <br /> "Cede" means the Internal Revenue Code of 1986, as amended, and the applicable regulations <br />of the Treasury Department proposed or promulgated thereunder. <br /> <br /> "Construction Fund" means the fund by that name referred to in Section 501 hereof. <br /> <br /> "Debt Service Fund" means the fund by that name referred to in Section 501 hereof. <br /> <br /> "Defaulted Interest" means interest on any Bond which is payable but not paid on any Interest <br />Payment Date. <br /> <br /> "Defeasance Obligations" means any of the following obligations: <br /> <br /> (a) United States Government Obligations that are not subject to redemption in <br /> advance of their maturity dates; or <br /> <br /> (b) obligations of any state or political subdivision of any state, the interest on which <br /> is excluded from gross income for federal income tax purposes and which meet the following <br /> conditions: <br /> <br /> (1) the obligations are (i) not subject to redemption prior to maturity or (ii) <br /> the trustee for such obligations has been given irrevocable instructions concerning their <br /> eatling and redemption and the issuer of such obligations has covertanted not to redeem <br /> such obligations other than as set forth in such instructions; <br /> <br /> (2) the obligations are secured by cash or United States Government <br /> Obligations that may be applied only to principal of, premium, if any, and interest <br /> payments on such obligations; <br /> <br /> (3) such cash and the principal of and interest on such United States <br /> Government Obligations (plus any cash in the escrow fund) are sufficient to meet the <br /> liabilities of the obligations; <br /> <br />-3- <br /> <br /> <br />