RES 94045A - Laserfiche WebLink

"Reserve Requirement" means, as of any date of calculation by the Authority or the City, the lesser of (i) 10% of the principal amount of the Bonds, (ii) an amount equal to the maximum annual payment of principal of and interest on [he Bonds, or (ui) 125% of the average annual payment of principal of and interest on the Bonds; provided, that as of the Closing Date, the Reserve Requirement shall be $ Contracts. "Revenues" shall have the meanings provided in each of the Installment Purchase "S&P" means Standard & Poor's Ratings Group, a division of McCnaw Hil] Incorporated, its successors and assigns. "Sewer Revenue Fund" means the Sewer Revenue Enterprise Fund of the City. "Treasurer" means the Treasurer of the Authority and/or the Finance Director of the City. "Trust. Agreement" means this Trvst Agreement by and between the Trustee and the Authority ,dated as of May 1, 1994 as originally executed and entered into and as it may from time to time be amended or supplemented in accordance herewith. "Trustee" means First Ttust California, a __ duly organized and existing under and by virtue of the laws of [he or its successor or any other bank or trust company which may at any time be substituted in its place as provided in Section 7.01. "Water Revenue Fund" means the Water Revenue Enterprise Fund of the City. Section 1.02. Equal Security. In consideration of the acceptance of the Bonds by the Owners, this Trust Agreement shall be deemed to be and shall constitute a contract by and among the Trustee, the Authority and the Owners to secure the full and final payment of the interest and principal and prepayment premiums, if any, to be made by the City on the Bonds, subject [o [he agreements, conditions, covenants and teens contained herein; and all agreements, conditions, covenants and terms contained herein requved to be observed or performed by qr on behalf of the Trustee shall be for the equal and proportionate benefit, protection and security of all Owners without distinction, preference or priority as to benefit, protection or security of any Bonds. over any other Bonds by reason of the number or date thereof or the time of execution or delivery thereof or otherwise for any cause whatsoever, except as expressly provided herein or therein. ARTICLE II TERMS AND CONDITIONS JF BONDS Section 2.01. Preparation of Bonds. The Authority hereby authorizes the Bonds in the aggregate principal amount of $ which Bonds shall be secured by the aggregate Installment Payments. The Bonds shall be designated "Pleasanton Joint Powers Financing Authority Refunding Water and Sewer Revenue Bonds, 1994 Series A." aoosonrz rn~