Ordinance 2607-02 - Laserfiche WebLink

Fund. The term Assessments shall also include any installments of assessments and any interest or penalties that may be due thereon. Assessment Income means the principal of and interest on assessments levied in any utility local improvement district and pledged to be paid into the Revenue Bond Fund. In the case of assessments payable in installments, Assessment Income shall be allocated to the years in which it would be received if the unpaid principal balance of each assessment roll were paid in equal principal amounts over the remaining number of installments with interest on the declining balance at the times and at the rate provided in the ordinance confirming the assessment roll. Average Annual Debt Service means, with respect to any issue of Parity Bonds, the average amount of Annual Debt Service that will become due on such Parity Bonds for the period from the date of such calculation until the final maturity date of such Parity Bonds then outstanding. Beneficial Owner means the beneficial owner of all or a portion of a Bond while such Bond is in fully immobilized form. Bonds means the $5,260,000 principal amount of water and sewer revenue refunding bonds of the City issued pursuant to this ordinance to refund the Refunded Bonds. Bond Register means the books or records maintained by the Bond Registrar containing the name and mailing address of the owner of each Bond or nominee of such owner and the principal amount and number of Bonds held by each owner or nominee. Bond Registrar means the fiscal agency of the State of Washington in either Seattle, Washington, or New York, New York, for the purposes of registering and authenticating the Bonds, maintaining the Bond Register, effecting transfer of ownership of the Bonds, and paying the principal of, premium, if any, and interest on the Bonds. -3- P\CMW\CMW5BE 02/05/21