RES 94044 - Laserfiche WebLink

"Installment Payment Date" means the date five (5) Business Days prior to each Interest Payment Date. "Installment Payments" means the installment payments of principal and interest scheduled to be paid by the City hereunder, plus mnounts required to be paid hereunder to replenish the Reserve Fund. "Interest Payment Date" means November 1, 1994 and each May 1 and November 1 thereafter. "Maintenance and Operation Costs of the Enterprise" means the reasonable and necessary costs spent or incurred by the City for maintaining and operating the Enterprise, calculated in accordance with Generally Accepted Accounting Principles, including all reasonable and necessary expenses of management and repair and other expenses necessary to maintain and preserve the Enterprise in good repair and working order, and including all reasonable and necessary administrative costs of the City attributable to the Enterprise and to this Installment Purchase Contract, the Bonds, Parity Bonds and Contracts, such as salaries and wages of employees, overhead, insurance, taxes (if any), expenses, payments to other governmental entities providing water service pursuant to an agreement wifl~ the City, reasonable compensation and indemnification of fiscal agents, paying agents and trustees with respect to the foregoing and fees of auditors, accountants, attorneys or engineers, and including all other reasonable and necessary costs of the City or charges required to be paid by it to comply with the terms hereof and the Bonds, Parity Bonds and Contracts and all applicable federal, state and local requirements pertaining to the operation of the Enterprise, but excluding depreciation, replacement and obsolescence charges or reserves therefor and amortization of intangible or other bookkeeping entries of a similar nature. "Net Proceeds" means, when used with respect to any insurance or condemnation award, the proceeds from such insurance or condemnation award remaining after payment of all reasonable expenses (including attorneys' fees) incurred in the collection of such proceeds. "Net Revenues" means, for any period, all of the Revenues during such period less all of the Maintenance and Operation Costs of the Enterprise during such period. "Parity Bonds" means all bonds, notes and other evidences of indebtedness of the City authorized, executed, issued and delivered by the City under and pursuant to applicable law, the payments of which are on a parity with the payments of the Installment Payments hereunder and the interest thereon and which are secured by a pledge of and lien on Revenues. "Project" means the Project described in Exhibit A attached hereto. "Reserve Requirement" means an amount equal to percent (__%) of the Reserve Requirement defined in the Trust Agreement. 4 9406701W.LA1