Ordinance 2607-02 - Laserfiche WebLink

use is incidental to the governmental uses of property, the property is made available for such use by all such community groups on an equal basis and such community groups are charged only a de minimis fee to cover custodial expenses. Qualified Insurer means an insurance company licensed to conduct business in any state of the United States or a service corporation acting on behalf of one or more such insurance companies, which insurance company or service corporation is rated either Aaa by Moody's Investors Service, Inc., or AAA by Standard& Poor's Corporation. Refunded Bonds means the 1992 Bonds maturing on and after July 1, 2003. Refunding Account means the special account of the City created pursuant to Section 18 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 maintained pursuant to Section 8(c)(2) of this ordinance. 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. Reserve Surety Bond means the Municipal Bond Debt Service Reserve Insurance Policy issued by the Insurer guaranteeing certain payments into the common Reserve Account as provided therein and subject to the limitations set forth within. 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 -8- P\CMW\CMW5BE 02/05/21