2023/04/05 Council Agenda Packet

Surety Bond Issuer means the surety bond issuer(s), if any, issuing a surety bond for the purpose of satisfying all or a portion of the Reserve Requirement. There may be more than one Surety Bond Issuer. System means the sanitary sewage collection and treatment system of the City, including facilities for the collection and disposal of storm water runoff, as it now exists and as it may later be added to, extended and improved, and the existing water supply and distribution system of the City, including the interest of the City in the water supply facilities constructed by Public Utility District No. 1 of Snohomish County pursuant to the Sultan River Project Agreement, as it now exists and as it may later be added to, extended and improved, for as long as Parity Bonds remain outstanding. 2013 Bond Ordinance means Ordinance No. 3313-13 adopted by the Council on January 23, 2013. 2013 Bonds mean the City's outstanding Water and Sewer Revenue Refunding Bonds, 2013, issued under date of February 14, 2013, pursuant to Ordinance No. 3313-13. 2015 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2015, issued under date of November 3, 2015, pursuant to Ordinance No. 3450-15. 2016 Bonds mean the City's outstanding Water and Sewer Revenue Refunding Bonds, 2016, issued under date of November 29, 2016, pursuant to Ordinance No. 3518-16. 2023 Construction Account means the account named "2023 Bond Funds" for the Projects created within the City's Fund 339 — Water & Sewer System Improvement Projects fund. Tax Maximum means the maximum dollar amount permitted by the Internal Revenue Code of 1986, as amended, including applicable regulations thereunder, to be allocated to a bond -18- 506242089.1