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<br /> proposal, and that such sale is to the best advantage of the City; <br /> and <br /> WHEREAS, it is necessary to provide for the form of the <br /> Bonds, the Bond details, the payment of the Bonds, and other pro- <br /> visions relating to the authorization, issuance, and sale of the <br /> Bonds; <br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF <br /> LOUISVILLE, COLORADO: <br /> Section 1. Definitions. As used herein, the following <br /> terms shall have the respective meanings set forth below, unless <br /> the context indicates otherwise: <br /> Bank: Central Bank Denver, National Association, in <br /> Denver, Colorado, or its successor, a national banking association <br /> duly organized and existing under the laws of the United States of <br /> America, being a member of the Federal Deposit Insurance <br /> Corporation, and having full and complete trust powers, with which <br /> the Escrow Account is established and maintained. <br /> Bond Account: the "City of Louisville General <br /> Obligation Water Bond Account, 1989" established by the provisions <br /> of this Ordinance. <br /> Bond Insurance Commitment: that certain Commitment For <br /> Municipal Bond Insurance, dated August 25, 1989, issued by the <br /> Bond Insurer. <br /> Bond Insurance POlicy: that certain Municipal Bond New <br /> Issue Insurance Policy, issued by the Bond Insurer pursuant to the <br /> Bond Insurance Commitment, guaranteeing the payment of the <br /> principal of and interest on the Bonds. <br /> Bond Insurer: Financial Guaranty Insurance Company, a <br /> stock insurance company incorporated under the laws of the State <br /> of New York, and its successors. <br /> Bond Registrar: Central Bank Denver, National <br /> Association, in Denver, COlorado, or its successor, which shall <br /> perform the functions of bond registrar with respect to the Bonds. <br /> - 5 - <br />