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"Nonpurpose Receipts" shall include the receipts with respect to Nonpurpose <br />Investments specified in Section 1.148-3(d)(2)(i)-(iii) of the Regulations. <br />"Pledged Moneys" means moneys that are reasonably expected to be used directly or <br />indirectly to pay debt service on the Note or as to which there is a reasonable assurance that such <br />moneys or the earnings thereon will be available directly or indirectly to pay debt service on the <br />Note if the Issuer encounters financial difficulties. <br />"Pre -Issuance Accrued Interest" means amounts representing interest that has accrued <br />on an obligation for a period of not greater than one year before its issue date but only if those <br />amounts are paid within one year after the Issue Date. <br />"Proceeds" means any Sale Proceeds, Investment Proceeds and Transferred Proceeds of <br />the Note. <br />"Qualified Administrative Costs" means reasonable, direct administrative costs, other <br />than carrying costs, such as separately stated brokerage and selling commissions that are <br />comparable to those charged nongovernmental entities in transactions not involving tax-exempt <br />Note proceeds, but not legal and accounting fees, recordkeeping, custody or similar costs. In <br />addition, with respect to a guaranteed investment contract or investments purchased for a yield <br />restricted defeasance escrow, such costs will be considered reasonable if (1) the amount of the <br />fee the Issuer treats as a Qualified Administrative Cost does not exceed the lesser of (a) $39,000 <br />(for calendar year 2015), or (b) the greater of (x) .2% of the "computational base", or (y) $4,000; <br />and (2) the Issuer does not treat as Qualified Administrative Costs more than $109,000 (for <br />calendar year 2015) in brokers' commissions or similar fees with respect to all guaranteed <br />investment contracts and investments for yield restricted defeasance escrows purchased with <br />Gross Proceeds of the issue. For purposes of this definition only, "computational base" shall <br />mean, with respect to guaranteed investment contracts, the amount of Gross Proceeds the Issuer <br />reasonably expects, as of the date the contract is acquired, to be deposited in the guaranteed <br />investment contract over the term of the contract and for investments other than guaranteed <br />investment contracts, "computational base" shall mean the amount of Gross Proceeds initially <br />invested in such investments. The above-described safe harbor dollar amounts shall be increased <br />each calendar year for cost -of -living adjustments pursuant to Section 1.148-5(e) of the <br />Regulations. <br />"Rebatable Arbitrage" means, as of any Computation Date, the excess of the future <br />value of all Nonpurpose Receipts over the future value of all Nonpurpose Payments. <br />"Rebate Fund" means the Rebate Fund established pursuant to the Resolution and <br />described in Section 3 hereof. <br />"Regulations" means Treasury Regulations Sections 1.148-0 through 1.148-11, <br />1.149(b)-1 and (d)-1, and 1.150-0 through 1.150-2, as amended, and any regulations amendatory, <br />supplementary or additional thereto. <br />A-3 <br />