2015/03/18 Council Agenda Packet

2 claims; all costs related to right-of-way and land costs; all costs for testing and inspection; legal fees; and interim financing costs. K. "District" means the Silver Lake Water and Sewer District and is defined in the first paragraph of this Agreement. L. "District Capacity Rights"are defined in Section 4.A of this Agreement. M. "District CE's" are defined in the table in Section 5.0(2)of this Agreement. N. "District Everett Sewer Basin" represents the area from which the District delivers sewage to Everett. As of the Effective Date of this Agreement, the boundaries for the District Everett Sewer Basin are shown in the attached Exhibit A. O. "District Indebtedness" means the District's water-sewer related indebtedness and includes general obligation bonds, revenue bonds, loans from State and Federal funds or programs, and temporary, emergency and interim loans. District Indebtedness includes utility local improvement district (ULID) bonds, local improvement district (LID) bonds, or general obligation bonds , but only to the extent that the revenue necessary to pay such ULID bonds, LID bonds or general obligation bonds transfers to Everett upon transfer of a Service Transfer Area. For example, payments in connection with an LID bond secured by real property are usually paid by property owners in the LID area by property taxes, and such tax payments would not be available to Everett. Accordingly, that LID bond would not be part of District Indebtedness for the purposes of this Agreement. P. "District Monthly M&O Charge per District CE" is defined in Section 5.0 (3) (a) of this Agreement. Q. "District Percentage Share of Total Everett Costs" is defined in Section 5.0 (2) of this Agreement. R. "Effective Date"is defined in the first paragraph of this Agreement. S. T. "EMC'is Everett Municipal Code. U. "Everett" is the City of Everett and is defined in the first paragraph of this Agreement. V. "Everett Capacity Facilities" are defined in Section 4.A of this Agreement. 3 12