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the City has provided in conjunction with their issuance that the bond anticipation notes will be <br />funded with the proceeds of Future Parity Bonds. <br />(28) "Designated Representative" means the officer of the City appointed in <br />Section 4 of this ordinance to serve as the City's designated representative in accordance with RCW <br />39.46.040(2). <br />means The Depository Trust Company, New York, New York, or its <br />nominee. <br />(30) "Finance Director" means the person who holds the office of Finance <br />Director of the City, or such successor officer as may be charged with carrying out all or <br />substantially all of the duties of the office of Finance Director -Treasurer under the City Charter. <br />(31) "Fiscal Agent" means the fiscal agent of the State, as the same may be <br />designated by the State from time to time. <br />(32) "Fixed Rate Bonds" means those Parity Bonds with respect to which the rate <br />of interest is fixed and determinable through their final maturity or for a specified period of time. If <br />so provided, Parity Bonds may be deemed to be Fixed Rate Bonds for only a portion of their term. <br />(33) "Future Parity Bond Authorizing Ordinance" means an ordinance of the City <br />authorizing the issuance of Future Parity Bonds. <br />(34) "Future Parity Bonds" means any and all revenue bonds or other obligations <br />of the Water & Sewer System issued or incurred after the Issue Date of the Bonds, the payment of <br />the principal of and interest on which constitutes a charge or lien on the Net Revenue and ULID <br />Assessments equal in rank with the charge and lien upon such revenue and assessments required to <br />be paid into the Revenue Bond Fund to pay and secure the payment of the principal of and interest on <br />the Bonds and the Outstanding Parity Bonds. <br />(35) "Government Loans" means any State or federal loans entered into at any <br />time that are payable by the City solely from the Net Revenue of the Water & Sewer System on a <br />basis subordinate to the lien and charge of the Parity Bonds and constituting Subordinate Debt. The <br />currently outstanding Government Loans are identified in Exhibit A. <br />(36) "Government Obligations" has the meaning given in RCW 39,53,010, as now <br />in effect or as may hereafter be amended, and which are otherwise legal investments of the City at <br />the time of such investment. <br />(37) "Gross Revenue" or "Revenue of the System" means all of the earnings and <br />revenues received by the City from the maintenance and operation of the Water &Sewer System; <br />connection and capital improvement charges collected for the purpose of defraying the cost of capital <br />facilities of the Water & Sewer System; except as excluded below, investment earnings and income <br />from investments of money in the Revenue Fund and the Revenue Bond Fund or from any other <br />investment of Gross Revenue; and any federal or state reimbursements of operating expenses to the <br />extent such expenses are included as Costs of Maintenance and Operation. Gross Revenue shall <br />exclude: (1) federal or state grants, and gifts from any source allocated to capital projects; (ii) <br />proceeds from the sale of Water & Sewer System property; (iii) City taxes collected by or through <br />the System; (iv) principal proceeds of bonds (and earnings on such proceeds) invested in a trust, <br />defeasance, or escrow fund created to defease or refund System obligations (until commingled with <br />other earnings and revenues of the System) or held in a special account for the purpose of paying a <br />rebate to the United States Government under the Code; (v) local improvement district assessments <br />including ULID Assessments; (vi) income and revenue which may not legally be pledged for revenue <br />