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<br />"Principal Payment Date" means the maturity date or mandatory redemption date of any <br /> <br />Bond. <br /> <br />"Program" means the Council's program of making Loans under the Act and pursuant to the <br />Indenture. <br /> <br />"Program Administrator" means the Florida League of Cities, Inc., a non-profit Florida <br />corporation. <br /> <br />"Project" or "Projects" means a governmental undertaking approved by the governing body of <br />a Borrower for a public purpose, including the refinancing of any indebtedness. <br /> <br />"Project Loan Fund" means the fund by that name established pursuant to Section 4.02 ofthe <br />Indenture. <br /> <br />"Proportionate Share" means, with respect to any Borrower, a fraction the numerator of <br />which is the outstanding principal amount ofthe Loan of such Borrower made from proceeds ofthe <br />Bonds and the denominator of which is the outstanding principal amount of all Loans made from <br />proceeds of the Bonds and then outstanding. <br /> <br />"Purchase Price" means the purchase price of one or more items of a Project payable by a <br />Borrower to the seller of such items. <br /> <br />"Redemption Price" means, with respect to any Bond (or portion thereof), the principal <br />amount of such Bond (or portion) plus the applicable premium, if any, payable upon redemption <br />pursuant to the provisions of such Bond and the Indenture. <br /> <br />"Reserve Fund" means the fund by that name created by Section 4.02 of the Indenture. <br /> <br />"Revenue Fund" means the fund by that name created by Section 4.02 of the Indenture. <br /> <br />"Revenues" means all Loan Repayments paid to the Trustee for the respective accounts of <br />the Borrowers for deposit in the Principal Fund and Revenue Fund to pay principal of, premium, if <br />any, and interest on the Bonds upon redemption, at maturity or upon acceleration of maturity, or to <br />pay interest on the Bonds when due, and all receipts of the Trustee credited to the Borrower under <br />the provisions of this Loan Agreement. <br /> <br />"S&P" means Standard & Poor's, a division of the McGraw-Hill Companies, Inc., a <br />corporation organized and existing under the laws of the State of New York, its successors and <br />assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the <br />functions of a securities rating agency, "S&P" shall be deemed to refer to any other nationally <br />recognized securities rating agency designated by the Council, with the approval of the Bond Insurer, <br />by notice to the Trustee. <br /> <br />8 <br />