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due on Current Interest Paying Bonds plus the aggregate amount required to pay <br />the Compounded Amounts due on any Capital Appreciation Bonds, including <br />amortization for Term Bonds, maturing in such Fiscal Year, plus the amounts <br />required to be deposited into the Reserve Account in such Fiscal Year. The <br />maturity dates for the Term Bonds shall be disregarded. <br />"Federal Securities" shall mean, collectively, (i) direct obligations <br />of, or obligations the principal of and interest on which are unconditionally <br />guaranteed by, the United States of America, which are not redeemable prior to <br />maturity at the option of the obligor; (ii) bank certificates of deposit fully <br />secured as to principal and interest by the obligations described in (i); (iii) <br />certificates evidencing ownership of portions of such obligations described in <br />(i) held by a bank or trust company as custodian, under which the owner of the <br />investment is the real party in interest and has the right to proceed directly <br />and independently against the obligor on the underlying obligations if such <br />underlying obligations are not available to satisfy any claim against the <br />custodian; or (iv) municipal obligations that have been refunded and are secured <br />by an escrow within which are held obligations described in (i). <br />"Fiscal Year" shall mean the period commencing on October 1 of each <br />year and ending on the succeeding September 30. <br />"Maximum Debt Service Requirement" shall mean, as of any particular <br />date of calculation, the greatest amount of the aggregate Debt Service <br />Requirement of the then current or any future Fiscal Year. <br />"Sales Tax" shall mean the portion of the proceeds of the local <br />government half -cent sales tax on deposit from time to time in the Local <br />C-2 <br />