Ordinance 2298-98 - Laserfiche WebLink

"Rebate Amount" means the amount, if any, determined to be payable with respect to the Bonds by the City to the United States of America in accordance with Section 148(f) of the Code. "Refunded Bonds" means the 1988 Bonds maturing on July 1 in 1999 and 2000. "Refunding Account" means the special account of the City, to be held by the Escrow Agent, created pursuant to Section 12 of this ordinance. "Registered Owner" means the person in whose name the Bond is registered on the Bond Register. "Reserve Account" means any account created in the Revenue Bond Fund to secure the payment of the principal of and interest on any Parity Bonds, including the common Reserve Account authorized to be created pursuant to Section 10.C(2) hereof. "1988 Reserve Account" means the 1988 Water and Sewer Revenue and Bond Reserve Account created in the Revenue Bond Fund by Section 9 of Ordinance No. 1433-88. "1992 Reserve Account" means the 1992 Water and Sewer Revenue Bond Reserve Account created in the Revenue Bond Fund by Section 9 of Ordinance No. 1891-92. "1993 Reserve Account" means the 1993 Reserve Account created in the Revenue Bond Fund by Section 8 of Ordinance No. 1163-93. "1997 Reserve Account" means the 1997 Reserve Account created in the Revenue Bond Fund by Section 10 of Ordinance No. 2208-97. "Reserve Account Requirement" means, with respect to any issue of Parity Bonds, the lesser of (i) Maximum Annual Debt Service on such Parity Bonds, or (ii) 1.25 times Average Annual Debt Service on such Parity Bonds. "Revenue Bond Fund" means the "1985 City of Everett Water and Sewer Revenue Bond Fund" created in the office of the Treasurer by Section 7 of Ordinance No. 1139-85 of the City for the sole purpose of paying and securing the payment of the principal of, premium, if any, and interest on Parity Bonds. -9- DOTOQ5 DOC 98/04/28