Ordinance 3313-13 - Laserfiche WebLink

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. 2003 Bond Ordinance means Ordinance No. 2690-03 adopted by the Council on May 14, 2003. 2003 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2003, issued under date of May 15, 2003, pursuant to the 2003 Bond Ordinance. 2005 Bond Ordinance means Ordinance No. 2870-05 adopted by the Council on September 28, 2005. 2005 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2005, issued under date of October 14, 2005, pursuant to Ordinance No. 2870-05. 2005 Refunded Bonds means the 2005 Bonds maturing on and after December 1, 2016. 2009 Bonds mean the City's outstanding Water and Sewer Revenue and Refunding Bonds, 2009, issued under date of May 13, 2009, pursuant to Ordinance No. 3123-09. 2011 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2011, issued under date of March 20, 2011, pursuant to Ordinance No. 3211-11. 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 reserve account from bond proceeds without requiring a balance to be invested at a restricted yield. -18- P:\20287_CMW.20287_9RC 01/02/13