Ordinance 2690-03 - Laserfiche WebLink

payment of the Previously Refunded Bonds and any other water and sewer revenue bonds pursuant to a plan of retirement or refunding. The words Revenue of the System shall also include any federal or state reimbursements of operating expenses to the extent such expenses are included as Costs of Maintenance and Operation of the System. Rule means the Securities and Exchange Commission's Rule 15c2-12 under the Securities Exchange Act of 1934. Savings Target means a dollar amount equal to at least three percent (3.0%) of the outstanding principal of the Refunded Bonds. SID means a state information depository for the State of Washington(if one is created). Sinking Fund Account means any account created in the Revenue Bond fund to amortize the principal of Term Bonds. 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 City 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 the Bonds remain outstanding. Term B onds mean any Parity Bonds identified as such in the ordinance or ordinance authorizing the issuance thereof, the payment of which is provided for by a requirement for mandatory deposits of money into a Sinking Fund Account in the Revenue Bond Fund. 2002 Bonds means the City's outstanding Water and Sewer Revenue Refunding Bonds, 2002, of the City, issued under date of June 1, 2002, pursuant to Ordinance No. 2607-02. -11- P:\CMW\CMW5NP 04/22/03