Finance Highlights 2011 0909 - Laserfiche WebLink

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retained by the City, at the City's expense, to make such calculation. The Trustee and the City may conclusively rely on such determination and will not be liable for such reliance. For the purpose of determining the Make -Whole Redemption Price, the following definitions apply: "Treasury Rate" means, with respect to any redemption of a particular Bond, the rate per annum truncated to the fifth decimal, expressed as a percentage of such Bond, equal to the semiannual equivalent yield to maturity or interpolated maturity of the Comparable Treasury Issue, assuming that the Comparable Treasury Issue is purchased on the redemption date for a price equal to the Comparable Treasury Price, as calculated by the Designated Investment Banker. "Comparable Treasury Issue" means, with respect to any redemption date of a particular Bond, the United States Treasury security or securities selected by the Designated Investment Banker which has an actual or interpolated maturity comparable to the remaining average life of the Bond to be redeemed, and that would be utilized in accordance with customary financial practice in pricing new issues of debt securities of comparable maturity to the remaining average life of the Bonds to be redeemed. "Comparable Treasury Price" means, with respect to any redemption date for a particular Bond: (i) the most recent yield data for the applicable U.S. Treasury maturity index from the Federal Reserve Statistical Release H.15 Daily Update (or any comparable or successor publication) reported, as of 11:00 a.m., New York City time, on the Valuation Date; or (ii) if the yield described in (i) above is not reported as of such time or the yield reported as of such time is not ascertainable, the average of four Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or if the Designated Investment Banker obtains fewer than four Reference Treasury Dealer Quotations, the average of all quotations obtained by the Designated Investment Banker. "Designated Investment Banker" means one of the Reference Treasury Dealers appointed by the City. "Reference Treasury Dealer" means each of the [three] firms, specified by the City from time to time, that are primary United States Government securities dealers in the City of New York (each a "Primary Treasury Dealer "); provided, however, that if any of them ceases to be a Primary Treasury Dealer, the City will substitute another Primary Treasury Dealer. "Reference Treasury Dealer Quotations" means, with respect to each Reference Treasury Dealer and any redemption date for the principal of a particular Bond, the average, as determined by the Designated Investment 5