TimeCurrent() / TimeLocal() question

 
Would someone tell me if I am correct in this (with any brokers)?

-There is a scriot running with an infinite loop running with Sleep(1000), so the ticks doesn't have an effect on the runs, only time.
-Let's assume, there are a new tick every 10 minutes.
-Hours are not important, only minutes and seconds.

TimeCurrent() on every run will give me last known server time, so it will give me new time data every 10 minutes.
TimeLocal() on every run will give me new time data every second.

Is it how it was designed?
 

TimeLocal simply accesses your computer clock I suppose.

To get new TimeCurrent() use RefreshRates() after every sleep.

Reason: