95-910- Sales Tax Revenue Bonds, Series 1995

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of this Resolution, all moneys, including investments thereof, in the funds and accounts established hereunder, other than the Rebate Fund. "Principal Account" shall mean the separate account in the Debt Service Fund established pursuant to Section 4.04 hereof. "Project" shall mean the Initial Project and any Additional project. "Rebate Fund" shall mean the Rebate Fund established pursuant to section 4.04 hereof. "Redemption Price" shall mean, with respect to any Bond or portion thereof, the principal amount or portion thereof, plus the applicable premium, if any, payable upon redemption thereof pur- suant to such Bond or this Resolution. "Registrar" shall mean any registrar for the Bonds appointed by or pursuant to Supplemental Resolution and its successors and assigns, and any other Person which may at any time be substituted in its place pursuant to Supplemental Resolution. "Reserve Account" shall mean the separate account in the Debt Service Fund established pursuant to section 4.04 hereof. "Reserve Account Requirement" shall mean, as of any date of calculation, an amount equal to the lesser of (1) Maximum Annual Debt Service for all outstanding Bonds, (2) 125% of the average annual debt service for all Outstanding Bonds, or (3) the maximum amount allowed under the Code in order to maintain the exclusion of interest on the Outstanding Bonds (other than Taxable Bonds). In computing the Reserve Account Requirement in respect of any Bonds that constitute Variable Rate Bonds, the interest rate on such Bonds shall be assumed to be the greater of (a) 110% of the daily average interest rate on such Variable Rate Bonds during the 12 months ending with the month preceding the date of calculation, or such shorter period of time that such Bonds shall have been Out- standing, or (b) the actual rate of interest borne by the Variable Rate Bonds on such date of calculation; provided, in no event shall the Reserve Account Requirement as adjusted on such date of calcu- lation exceed the lesser of the amounts specified in the imme- diately preceding sentence. In computing the Reserve Account Requirement in accordance with clause (3) of this definition in respect of any Capital Appreciation Bonds, the principal amount of such Bonds shall be the original principal amount thereof, not the Accreted Value. "Resolution" shall mean this Resolution, as the same may from time to time be amended, modified or supplemented by Supplemental Resolution. 6