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"Engineer" means any registered engineer or firm of engineers of generally <br />recognized to be well qualified in engineering matters relating to systems similar to the <br />Enterprise, appointed and paid by the City, and who or each of whom-- <br /> <br /> 1. is in fact independent and not under the domination of the City; <br /> <br /> 2. does not have a substantial financial interest, direct or indirect, in the City. <br /> <br /> "Engineer's Report" means a report signed by an Engineer. <br /> <br /> "Enterprise" means the City's water system, including all facilities, works, <br />properties and structures of the City for the transmission and distribution of water, including <br />all contractual rights to water supplies, transmission capacity supply, easements, rights-of-way <br />and other works, property or structures necessary or convenient for such facilities, together <br />with all additions, betterments, extension and improvements to such facilities or any part <br />thereof hereafter acquired or constructed. <br /> <br /> "Escrow Agreement" means the escrow instructions agreement, dated as of <br /> May 1, 1994, between the Authority, the City, Bank of America National Trust and Savings <br /> Associations and the Trustee, acting as escrow agent. <br /> <br /> "Escrow Fund" means the fund of that name established by the Escrow <br /> Agreement. <br /> <br /> "Event of Default" means an event of default described in Section 7.01. <br /> <br /> "Fiscal Year" means the twelve calendar month period terminating on June 30 <br /> of each year, or any other annual accounting period here',~er selected and designated by the <br /> City as its Fiscal Year in accordance with applicable law. <br /> <br /> "Generally Accepted Aeeounting Principles" means the uniform accounting and <br /> reporting procedures prescribed by the California State Controller or his successor for Cities <br /> in the State of California, or failing the prescription of such procedures means generally <br /> accepted accounting principles as presented and recommended by the American Institute of <br /> Certified Public Accountants or its successor, or by the National Council on Governmental <br /> Accounting or its successor, or by any other generally accepted authority on such principles. <br /> <br /> "Independent Certified Public Accountant" means any firm of certified public <br /> accountants appointed by the City which is independent pursuant to the Statement on <br /> Auditing Standards No. 1 of the American Institute of Certified Public Accountants. <br /> <br /> 3 <br /> 9406701W. LA 1 <br /> <br /> <br />