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First Interest Rate Adjustment Date means December 1, 2020. <br />Interest Rate means: (a) from the date of issuance to (but not including) the <br />First Interest Rate Adjustment Date, a fixed rate of interest of 2.6% per annum; (b) from <br />the First Interest Rate Adjustment Date to (but not including) the Second Interest Rate <br />Adjustment Date, a fixed rate of interest of 2.8% per annum; and (c) from the Second <br />Interest Rate Adjustment Date to the Maturity Date, a fixed rate of interest of 3.0% per <br />annum. <br />Maturity Date means the final date of maturity stated in the Bond, which shall <br />be approximately five years from the date of issuance of the Bond. <br />Mayor or City Mayor means the elected Mayor of the City, or the successor to <br />the duties of that office. <br />Note means the City's Limited Tax General Obligation Bond Anticipation Note, <br />2014 (Taxable Non -Revolving Line of Credit), issued on December 9, 2014 pursuant to <br />the Note Ordinance. <br />Note Ordinance means Ordinance No. 2464 passed by the Council (on <br />December 1, 2014, as amended by Ordinance No. 2472 passed by the Council on <br />March 16, 2015. <br />Proposal means the proposal letter submitted by the Purchaser substantially <br />in the form attached hereto as Exhibit A. <br />Purchaser means Cashmere Valley Bank, Cashmere, Washington, and its <br />successors and assigns. <br />Registered Owner means the person named whose name the Bond is <br />registered on the Bond Register. <br />Rule means the Securities and Exchange Commission's Rule 15c2-12 under <br />the Securities Exchange Act of 1934, as the same may be amended from time to time. <br />Second Interest Rate Adjustment Date means December 1, 2021. <br />State means the State of Washington. <br />(b) Interpretation. In this ordinance, unless the context otherwise requires: <br />(1) The terms "hereby," "hereof," "hereto," "herein," "hereunder" and any <br />similar terms, as used in this ordinance, refer to this ordinance as a whole and not to <br />any particular article, section, subdivision or clause hereof, and the term "hereafter" <br />shall mean after, and the term "heretofore" shall mean before, the date of this <br />ordinance; <br />(2) Words of the masculine or feminine gender shall mean and include <br />correlative words of any gender and words importing the singular number shall mean <br />and include the plural number and vice versa; <br />W: Word Processing\Ordinances\LTGO Bond -2017 Cashmere Valley Bank 10-10-17 <br />PM:bjs <br />Page 3 of 8 <br />7 <br />