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<br />"Taxable Rate" shall mean, with respect to the Series 2003 Note, a rate per annum <br />calculated by the Purchaser after the occurrence of a Determination of Taxability which interest rate <br />shaH provide the Purchaser with a rate of retum equal to the rate ofretum received by the Purchaser <br />prior to the Determination of Taxability. <br /> <br />"Tax-Exempt Rate" shall mean, with respect to the Series 2003 Note, the rate set forth <br />below in (A) or (B) as selected by the Issuer, prior to Closing, which rate shall be subject to <br />adjustment as provided in Section 2.04 hereof. <br /> <br />(A) The rate associated with a swap set two days prior to funding based on the follo'Wing <br />formula: <br /> <br />67% of the 6 - Year U.S. Dollar Swap Rate' + 0.83% <br /> <br />or <br /> <br />(B) The fixed rate set two days prior to funding based on the following formula: <br /> <br />67% of the 6 - Year U.S. Dollar Swap Rate' + 0.96% <br /> <br />* Swap Rate is the US Dollar Swap Curve 'ask' price. The curve is available daily upon request and is <br />published on the Federa] Reserve Internet site at httD://federalreserve.gov/Releases/h15/uDdate. <br /> <br />"Tax Certificate" shall mean the Certificate as to Arbitrage and Certain Other Tax Matters, <br />or a similar certificate, to be executed by the Issuer relating to a Bond, as such Certificate may be <br />amended from time to time, as a source of guidance for achieving compliance with the Code. <br /> <br />"Term Bonds" shaH mean those Bonds which shall be designated as Term Bonds hereby <br />or by Supplemental Resolution of the Issuer and which are subject to mandatory redemption by <br />Amortization Installment. The Series 2003 Note will be issued as a single Term Bond with the <br />Amortization Installments set forth in Section 3.05 hereof. <br /> <br />"Unrestricted Revenue Account" shall mean the separate account in the Debt Service Fund <br />established pursuant to Section 4.04 hereof. <br /> <br />"Variable Rate Bonds" shall mean Bonds issued with a variable, adjustable, convertible <br />or other similar rate which is not fixed in percentage for the entire term thereof at the date of issue. <br /> <br />The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any similar terms, shall <br />refer to this Resolution; the term "heretofore" shall mean before the date of adoption of this <br />Resolution; and the term "hereafter" shall mean after the date of adoption of this Resolution. <br /> <br />II <br />