03-1460 Infrastructure Bonds - Laserfiche WebLink

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"Event of Default" shall mean allY Event of Default specified in Section 7.01 of this Resolution. "Federal Securities" shall meall direct obligations of the United States of America and obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, none of which permit redemption prior to maturity at the option of the obligor. Federal Securities shall include any certificates or any other evidences of an ownership interest in the aforementioned obligations or in specified portions thereof (which may consist of specified portions of the interest thereon). "Fiscal Year" shall meall the twelve month period commencing on October I of each year and continuing tllfough the next succeeding September 30, or such otller period as may be prescribed by law. "Fitch" shall mean Fitch, Inc., and any assigns and successors thereto. "Infrastructure Sales Surtax" shall mean all infrastructure sales tax of not less thall one percent imposed pursuant to tIle provisions of Section 212.055, Florida Statutes, or any successor provIsIOn. "Infrastmcture Sales Surtax Revenues" shall meall the proceeds of any Infrastructure Sales Surtax received by tlle Issuer. "Insurer" shall mean such Person as shall be in the business of insuring or guarallteeing the payment of principal of and interest on municipal securities and whose credit is such that, at the time of allY action or consent required or pe1Tilitted by the Insurer pursuallt to the terms of this Resolution, all municipal securities insured or guarallteed by it are then rated, because of such insurance or guarantee, in one of the two most secure grades by one of tlle Rating Agencies. "Interest Date" or "interest payment date" shall be such date or dates for the payment of interest on a Series of Bonds as shall be provided hereby or by Supplemental Resolution. The "Interest Date" for the Series 2003 Note shall be April I al1d October 1, of each year, commencing April I, 2004. "Interest Rate Cap" means an agreement granting fue Issuer the right to receive from the provider a payment that equals the amount by which a floating interest rate index exceeds a stated interest level (the agreed upon cap level) during a specific period of time. Any Interest Rate Cap shall also specify the notional principal amount and principal payment schedule upon which the potential payments are to be made. "Interest Rate Exchange Agreement" or "Interest Rate Swap" meallS an agreement between the Issuer and another party specifying the exchange of future payments based on an interest rate or rates specified at the time of execution and delivery of the agreement. More particularly, the 7