2016/10/19 Council Agenda Packet

1 4 which they are withdrawn, and amounts deposited in the Coverage Stabilization Account shall reduce Revenue for the period during which they are deposited. Credits to or from the Coverage Stabilization Account that occur within 90 days after the end of a fiscal year may be treated as occurring within such fiscal year. Rule means the Securities and Exchange Commission's Rule 15c2-12 under the Securities Exchange Act of 1934. S&P means Standard & Poor's, a Division of The McGraw Hill Companies, its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, S&P shall be deemed to refer to any other nationally recognized securities rating agency (other than Moody's and Fitch) designated by the Chief Financial Officer. Savings Target means a dollar amount equal to at least four percent (4.0%) of the outstanding principal of the Refunded Bonds. SRF Loans mean the State Revolving Fund loans identified in the following chart. Principal Balance Date of Original (December 31, Issue Amount Bond Holder/Program Lender 2015) 10/01/04 $4,040,000 SRF Clearwell No 2 $ 2,225,737 10/01/05 4,040,000 SRF Clearwell No 2 2,338,947 10/01/06 3,030,000 SRF Clearwell No 2 1,913,684 SRF Design&Const. of 2nd 5-Million 03/04/08 4,040,000 Gallon Clearwell 2,773,154 03/03/09 3,030,000 SRF Recovered Water Outfall 1,014,298 02/26/14 1,994,497 SRF Bond St CSO Control Facilities 1,812,598 Surety Bond means one or more of the surety bond(s), if any, issued by the Surety Bond Issuer on the date of issuance of the Bonds for the purpose of satisfying all or a portion of the Reserve Requirement; provided that the Surety Bond meets the requirements for "Qualified Insurance." There may be more than one Surety Bond. -121 P:120287 CMW120287 BN9 10/11/16