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"Bond Registrar" shall mean the City via the Clerk, who shall maintain the registration <br />books of the City and be responsible for the transfer and exchange of the Series 2021 Bond, and <br />who shall also be the paying agent for the Series 2021 Bond. <br />"Business Day" shall mean any day other than a Saturday, Sunday or day on which <br />banking institutions within the State of Florida are authorized or required by law to remain closed. <br />"Charter" means the charter of the City of Casselberry, Florida. <br />"City" means the City of Casselberry, Florida, a municipal corporation of the State of <br />Florida, or any successor thereto. <br />"City Commission" means the City Commission of the City, or its successor in function. <br />"City Manager" means the City Manager of the City or his or her designee. <br />"Clerk" means the City Clerk or assistant or deputy City Clerk of the City, or such other <br />person as may be duly authorized by the City Commission of the City to act on his or her behalf. <br />"Code" shall mean the Internal Revenue Code of 1986, as amended. <br />"Debt" means as of any date and without duplication, all of the following to the extent <br />that they are payable in whole or in part from any Non -Ad Valorem Funds: (i) all obligations of <br />the City for borrowed money or evidenced by bonds, debentures, notes or other similar <br />instruments; (ii) all obligations of the City to pay the deferred purchase price of property or <br />services, except trade accounts payable under normal trade terms and which arise in the ordinary <br />course of business; (iii) all obligations of the City as lessee under capitalized leases; and (iv) all <br />indebtedness of other persons to the extent guaranteed by, or secured by Non -Ad Valorem Funds <br />of the City. <br />"Event of Default" shall mean the occurrence and continuance of one or more of the <br />following events: <br />(a) payment of the principal of the Series 2021 Bond is not made when the same shall <br />become due and payable; or <br />(b) payment of any installment of interest or any other amount payable on the Series <br />2021 Bond is not made when the same shall become due and payable; or <br />(c) the City shall default in the due and punctual performance of any other of the <br />covenants, conditions, agreements and provisions contained in the Series 2021 Bond or this <br />Resolution and such default shall continue for thirty (30) days from the earlier of (a) after written <br />notice shall have been received by the City from the Bondholder specifying such default and <br />requiring the same to be remedied or (b) when notice was required to be given by the City pursuant <br />to Section 6 hereof; provided, however, that if, in the reasonable judgment of the Bondholder, the <br />City shall proceed to take such curative action which, if begun and prosecuted with due diligence, <br />cannot be completed within a period of thirty (30) days, then such period shall, upon the written <br />consent of the Bondholder, be increased to such extent as shall be necessary to enable the City to <br />W <br />