reconvene regular meeting: 7:00 pm - Irvine Unified School District

(3) Units of a money-market fund portfolio composed solely of obligations
guaranteed by the full faith and credit of the United States of America rated in one of the
two highest rating categories by Moody’s Investors Service and Standard & Poor’s
Ratings Services, including any funds for which the Trustee, or any of its affiliates,
provides management, advisory or sponsorship services;
(4) An investment agreement; provided that such agreement is an investment
agreement with a financial entity whose senior debt, or claims paying ability (or senior
debt or claims paying ability of the financial entity’s guarantor) is rated in one of the two
highest long-term rating categories by Moody’s Investors Service and Standard & Poor’s
Ratings Services or whose commercial paper rating is in the highest rating category of
each such rating agencies or is collateralized by investments listed in subsection (1)
hereof as required by Standard & Poor’s Ratings Services and Moody’s Investors Service
to be rated in one of the two highest rating categories;
(5) The Orange County Treasurer’s Orange County Educational Investment
Pool or the Orange County Treasurer’s Money Market Commingled Investment Pool or
similar pooled investment fund then maintained by the County Treasurer; or
(6) Any other investment rated in one of the two highest rating categories by
Moody’s Investors Service and Standard & Poor’s Ratings Services approved by a
majority of the Districts.
“Pricing Confirmation” means each Pricing Confirmation executed by the
Districts on ___________, 2010 with respect to the Program.
“Principal Fund” means the fund by that name established in Section 3.02.
“Principal Office of the Trustee” means the corporate trust office of the Trustee,
which, for the Trustee initially appointed hereunder, is located in Los Angeles, California,
provided that for transfer, exchange, registration, surrender and payment of Notes and Note
Participations, it means the corporate trust office of U.S. Bank National Association in St. Paul,
Minnesota.
“Principal Payment Date” means the date on which principal evidenced and
represented by the Note Participations becomes due and payable, being the Maturity Date.
“Proceeds Fund” means the fund by that name established in Section 3.02.
“Proceeds Subaccounts” means the Proceeds Subaccounts created in the Proceeds
Fund under Section 3.03(b).
“Program” means the South Coast Local Education Agencies Pooled Tax and
Revenue Anticipation Note Program pursuant to which the Note Participations are executed and
delivered to assist Districts in financing cash flow deficits.
“Purchaser” or “Purchasers” means [UNDERWRITER], as underwriter of the
Note Participations evidencing and representing interests in the Notes.
OHS West:260889233.1 5
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