RES 67055 - Laserfiche WebLink

ever reference is made in this Resolution to the Law, reference is made to the Law as in force on the date of the adoption of this Resolution, unless the context olher- wise requires. Maintenance mtd Operation Costs of the Enterprise The term "maintenance and operation costs of the Enterprise" means the reasonable and necessary costs of maintaining and operating the Enterprise, caicu- lated on sound accounting principles, including (among other things) the cost of buying or producing water, reasonable expenses of management, repair and other exp&nses necessary to maintain and preserve the Enterprise in good repair and working order, and reasonable amounts for administration, overhead, insurance, taxes (if any) and other similar costs, but excluding in all cases depreciation and obsolescence charges or reserves therefor and amortization of intangibles or other bookkeeping entries of a similar nature. Maximum Annual Debt Service; Annual Debt Service The term "Maximum Annual Debt Service" means the sum of ( 1 ) the interest falling due on the outstanding Bonds, assuming that all the outstanding Serial Bonds are retired as scheduled and that all the outstanding Term Bonds are redeemed from sinking fund accounts as scheduled, (2) the principal amount of the outstanding Serial Bonds falling due by their terms, and (3) the minimum amount of the out- standing Term Bonds required by this Resolution or any Supplemental Resolution to be paid or called and redeemed, together with the premiums, if any, thereon; all as computed for the year in which such sum is largest. The term "annual debt service" means the sum of said items ( 1 ), ( 2 ) and (3) as computed for the then immediately ensuing twelve month period. Mayor The term "Mayor" means the Mayor of the City. Net Revenues The term "Net Revenues" means all of the' Revenues less all ma, ntenance and operation costs of the Enterprise. Outstanding The term "outstanding," when used as of any particular time with reference to Bonds, means (subject to the provisions of Section 7.04) all Bonds theretofore executed, issued and delivered by the City under this Resolution except- (1 ) Bonds theretofore cancelled by the Fiscal Agent or surrendered to the Fiscal Agent for cancellation;