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thereof and interest thereon equal to the lien upon the Revenue of the System of the Bonds and <br /> the Outstanding Parity Bonds. <br /> Government Loans means the PWTF Loans, SRF Loans and subordinate lien revenue <br /> loans received by the City in the future from the State of Washington or the United States of <br /> America. <br /> Government Obligations means those obligations now or hereafter defined as such in <br /> chapter 39.53 RCW. <br /> Letter of Representations means the blanket issuer letter of representations from the City <br /> to DTC. <br /> Maximum Annual Debt Service means highest dollar amount of Annual Debt Service in <br /> any fiscal year or Base Period for all outstanding Parity Bonds and/or for all subordinate lien <br /> evidences of indebtedness secured by Revenue of the System, as the context requires. <br /> Moody's means Moody's Investors Service, its successors and their assigns, and, if such <br /> corporation shall be dissolved or liquidated or shall no longer perform the functions of a <br /> securities rating agency, Moody's shall be deemed to refer to any other nationally recognized <br /> securities rating agency(other than S&P and Fitch) designated by the Chief Financial Officer. <br /> MSRB means the Municipal Securities Rulemaking Board. <br /> Net Proceeds, when used with reference to the Bonds, means the principal amount of the <br /> Bonds, plus accrued interest and original issue premium, if any, and less original issue discount <br /> and proceeds,if any, deposited in the Reserve Account. <br /> Net Revenue means Revenue of the System less Costs of Maintenance and Operation. <br /> New Date means the earlier of(i)the date on which all Outstanding Parity Bonds issued <br /> prior to 2013 are no longer outstanding; or (ii)the date on which the owner(s) of at least 60% of <br /> -1114 P:120287_CM1M20287_13N9 10/11/16 <br />