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Finance Officer means the duly qualified, appointed and acting Finance Officer or any <br />other officer who succeeds to the duties now delegated to that office. <br />Financial Advisor means PFM Financial Advisors LLC, Seattle, Washington. <br />First Interest Payment Date means June 1, 2020. <br />Government Obligations means obligations defined as such in Chapter 39.53 RCW as <br />now or hereafter amended. <br />Interest Rate means a rate of 1.91% per annum; provided, however, that upon the <br />occurrence of an Event of Default, upon notice from the Bank, the Interest Rate shall be <br />increased by 200 basis points (2%). <br />Net Proceeds, when used with reference with the Bond, mean the principal amount of the <br />Bond, plus accrued interest and original issue premium, if any, and less original issue discount, if <br />any. <br />Payment Default shall have occurred if the Bank determines that the County has failed to <br />pay principal or interest on the Bond within ten (10) days after written notice provided by the <br />Bank of such failure to pay. <br />2020. <br />Principal Payment Dates mean annually on December 1, commencing December 1, <br />Private Person means any natural person engaged in a trade or business or any trust, <br />estate, partnership, association, company or corporation. <br />Private Person Use means the use of property in a trade or business by a Private Person <br />if such use is other than as a member of the general public. Private Person Use includes <br />ownership of the property by the Private Person as well as other arrangements that transfer to the <br />Private Person the actual or beneficial use of the property (such as a lease, management or <br />-5- 502686980 v1 <br />