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<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 />(4) such cash and United States Government Obligations serving as security <br />for the obligations are held in an escrow fund by an escrow agent or a trustee irrevocably <br />in trust; <br /> <br />(5) such cash and United States Government Obligations are not available to <br />satisfy any other claims, including those against the trustee or escrow agent; and <br /> <br />(6) the obligations are rated in the highest rating category by Moody's <br />Investors Service, Inc. (presently "Aaa") or Standard & Poor's (presently "AAA"). <br /> <br />"Fiscal Year" means the fiscal year of the City, currently the period beginning July 1 and ending <br />June 30. <br /> <br />"Interest Payment Date" means the Stated Maturity of an installment of interest on any Bond. <br /> <br />"Maturity" when used with respect to any Bond means the date on which the principal of such <br />Bond becomes due and payable as therein and herein provided, whether at the Stated Maturity thereof or <br />call for redemption or otherwise. <br /> <br />"Ordinance" means this Ordinance authorizing the issuance of the Bonds, as amended from time <br />to time. <br /> <br />"Outstanding" means, when used with reference to Bonds, as of any particular date of <br />determination, all Bonds theretofore authenticated and delivered hereunder, except the following Bonds: <br /> <br />(a) Bonds theretofore cancelled by the Paying Agent or delivered to the Paying <br />Agent for cancellation; <br /> <br />(b) <br />hereof; and <br /> <br />Bonds deemed to be paid In accordance with the proVlslOns of Section 701 <br /> <br />(c) Bonds in exchange for or in lieu of which other Bonds have been authenticated <br />and delivered hereunder. <br /> <br />"Paying Agent" means The Bank of New York Trust Company, N.A., S1. Louis, Missouri, and <br />any successors or assigns. <br /> <br />"Permitted Investments" means any of the following securities, if and to the extent the same are <br />at the time legal for investment of the City's funds: <br /> <br />(a) United States Government Obligations; <br /> <br />-3- <br />