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" means The Depository Trust Company, New York, New York, and its successors and assigns. " Event of Default means any of the events described in Section 8.01. " Federal Securities means: (a) any direct general obligations of the United States of America (including obligations issued or held in book entry form on the books of the Department of the Treasury of the United States of America), for which the full faith and credit of the United States of America are pledged; (b) obligations of any agency, department or instrumentality of the United States of America, the timely payment of principal and interest on which are directly or indirectly secured or guaranteed by the full faith and credit of the United States of America. " Fiscal Year means any twelve -month period beginning on July 1 in any year and extending to the next succeeding June 30, both dates inclusive, or any other twelve -month period selected and designated by the City as its official fiscal year period under a Certificate of the City filed with the Trustee. " Indenture " means this Indenture of Trust between the City and the Trustee, as amended or supplemented from time to time under any Supplemental Indenture entered into under the provisions hereof. " Independent Accountant means any accountant or firm of such accountants duly licensed or registered or entitled to practice and practicing as such under the laws of the State of California, appointed by or acceptable to the City, and who, or each of whom: (a) is in fact independent and not under domination of the City; (b) does not have any substantial interest, direct or indirect, with the City; and (c) is not connected with the City as an officer or employee of the City, but who may be regularly retained to make reports to the City. " Interest Account means the account by that name established and held by the Trustee under Section 4.02(a). " Interest Payment Date means [June 1], 2012, and each [June 1] and [December 1] thereafter so long as any of the Bonds remain unpaid. " Moody's means Moody's Investors Service, a corporation organized and existing under the laws of the State of Delaware, and its successors. " Nominee " means (a) initially, Cede & Co. as nominee of DTC, and (b) any other nominee of the Depository designated under Section 2.04(a). " Office " means, with respect to the Trustee, the corporate trust office of the Trustee at the address set forth in Section 9.08, or at such other or additional offices as may be specified by the Trustee in writing to the City. " Original Purchaser means Morgan Keegan & Company, Inc. and Wedbush Securities Inc., as original purchasers of the Bonds upon the negotiated sale thereof. " Outstanding ", when used as of any particular time with reference to Bonds, means (subject to the provisions of Section 9.05) all Bonds except: (a) Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) Bonds paid or deemed to have A -2