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Ordinance: this Ordinance, which authorizes the issuance of the Bonds. <br /> <br /> Outstanding: as of any date of calculation, all Bonds theretofore executed, issued <br />and delivered by the City except: <br /> <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 /> <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 and the and the Bond Insurer is presented that any such Bonds are <br />duly held by the lawful registered owners thereof; or <br /> <br /> (c) Bonds deemed to have been paid as provided in.Section 26 hereof. <br /> <br /> Owner or Registered Owner or Bondowner: when used with respect to a Bond or <br />Bonds, means the registered owner of any Outstanding Bond. <br /> <br /> Parity Lien Bonds: one or more series of additional bonds, notes, certificates, <br />contracts, or other similar obligations issued in accordance with Section 25 hereof, payable in <br />whole or in part from the Capital Improvement Fund and the Pledged Revenues and having a lien <br />thereon on a parity with the lien on the Bonds. <br /> <br /> Paying Agent: U.S. Bank National Association, or its successor, which shall <br />perform the function of paying agent as set forth in this Ordinance and the Paying Agent <br />Agreement. <br /> <br /> Paying Agent Agreement: the Registrar and Paying Agent Agreement dated as of <br />October 1, 2003, between the City and the Paying Agent and Registrar. <br /> <br /> Permitted Investments: any of the investments or deposits listed on Appendix I <br />hereto which are at the time permitted by the Charter and applicable ordinances or other <br />provisions of the City. <br /> <br /> Pledged Revenues: (i) the portion of the Sales Tax pledged to the Capital <br />Improvement Fund by the Sales Tax Ordinance, being one-third (1/3) of the net proceeds of the <br />Sales Tax, (ii) investment income as provided in Section 17(f) hereof; (iii) any additional legally <br />available taxes (other than general ad valorem taxes), funds or revenues which the Council <br />hereafter pledges to the payment of the Bonds; and (iv) to the extent permitted by Section 24(e) <br />hereof, the proceeds derived by the City from any legally available tax or taxes or fees (other <br />than general ad valorem taxes) which replace or supersede the City's Sales Tax, regardless of <br /> <br />3 <br /> <br /> <br />