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(4) such cash and United States Government Obligations serving as security for the obligations are held in an escrow fund by an escrow agent or a trustee irrevocably in trust; (5) such cash and United States Government Obligations are not available to satisfy any other claims, including those against the trustee or escrow agent; and (6) the obligations are rated in the highest rating category by Moody's investors Service, Inc. (presently "An") or Standard & Poor's Corporation (presently "Interest Paymere Date" means the Stated Maturity of an installment of interest on any Bond. "Maturity" when used with respect to any Bond means the date on which the principal of such Bond becomes due and payable as therein and herein provided, whether at the Stated Maturity thereof or call for redemption or otherwise. "Ordinance" means this Ordinance adopted by the governing body of the City, authorizing the issuance of the Bonds. "Outstanding" means, when used with reference to Bonds, as of any particular date of determination, all Bonds theretofore authenticated and delivered hereunder, except the following Bonds: (a) Bonds theretofore cancelled by the Paying Agent or delivered to the Paying Agent for cancellation; Co) Bonds deemed to be paid in accordance with the provisions of Section 701 hereof; and (c) Bonds in exchange for or in lieu of which other Bonds have been authenticated and delivered hereunder. "Pavin~, Agent" means Mark Twain Bank, St. Louis, Missouri, and any successors or assigns. "Permitted Investments" means any of the following securities, ff and to the extent the same are at the time legal for investment of the City's funds: (a) United States Government Obligations; (b) bonds, notes or other obligations of the State of Missouri, or any political subdivision of the State of Missouri, that at the time of their purchase are rated in either of the two highest rating categories by a nationally ~ecognized rating service; (c) repurchase agreements with any bank, bankholding company, savings and loan association, trust company, or other fmanciai institution organized under the laws of the United States or any state, that are continuously and fully secured by any one or more of the securities described in clause (a) or Co) above and that have a market value, exclusive of accrued interest, at all times at least equal to the principal amount of such repurchase agreement and are held in a custodial or trust account for the benefit of the City;