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<br />Escrow AlZreement: the Escrow Agreement dated as of December 1, 1993 <br />between the City and the Escrow Bank. <br />Escrow Bank: , Denver, Colorado, or its Successor, <br />which shall perfonn the function of escrow bank as set forth in this Ordinance and the <br />Escrow Agreement. <br />Event of Default: one or more of the events set forth in Section 32 of this <br /> <br />Ordinance. <br /> <br />Federal Securities: non-callable direct obligations of, or obligations the timely <br />payment of the principal of and interest on which is unconditionally guaranteed by, the United <br />States of America. <br />Finance Director: the City's Finance Director. <br />Insurance PavinlZ AlZent: , or its successors under the Bond <br />Insurance Policy. <br />Letter of Reoresentations: the letter of representations from the City to DTC <br />to induce DTC to accept the Bonds as eligible for deposit at DTC. <br />1989 Bonds or Refunded Bonds: the City's Sales Tax Revenue Bonds, Series <br />1989, dated April 15, 1989, issued in the aggregate principal amount of $5,265,000, and <br />currently outstanding in the aggregate principal amount of $5,010,000, authorized by <br />Ordinance No. 992, adopted by the Council on April 18, 1989. <br />Ordinance: this Ordinance, which authorizes the issuance of the Bonds. <br />Outstandin~: as of any date of calculation, all Bonds theretofore executed, <br />issued and delivered by the City except: <br />a. Bonds theretofore cancelled by the City, Registrar or Paying Agent, or <br />surrendered to the City, Registrar or Paying Agent for cancellation; <br />b. Bonds in lieu of or in substitution for which other Bonds shall have been <br />executed, issued and delivered by the City and authenticated by the Registrar unless proof <br />satisfactory to the Registrar is presented that any such Bonds are duly held by the lawful <br />registered owners thereof; or <br />c. Bonds deemed to have been paid as provided in Section 28 hereof. <br /> <br />- 4 - <br />