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Assessment Income, and including the income from investments of money in the Revenue Fund <br /> and the Revenue Bond Fund or from any other investment thereof except the income from <br /> investments irrevocably pledged pursuant to a plan of retirement or refunding. The words <br /> Revenue of the System shall also include any federal or state reimbursements of operating <br /> expenses to the extent such expenses are included as Costs of Maintenance and Operation of the <br /> System. From and after the New Covenant Date, Revenue of the System or Revenue means all <br /> of the earnings and revenues received by the City from the maintenance and operation of the <br /> System and connection and capital improvement charges collected for the purpose of defraying <br /> the cost of capital facilities of the System, including investment earnings and income from <br /> investments of money in the Revenue Fund and the Revenue Bond Fund or from any other <br /> investment of Revenues, but excluding government grants, proceeds from the sale of System <br /> property, City taxes collected by or through the System, principal proceeds of bonds and <br /> earnings or proceeds from any investments in a trust, defeasance or escrow fund created to <br /> defease or refund System obligations (until commingled with other earnings and revenues of the <br /> System) or held in a special account for the purpose of paying a rebate to the United States <br /> Government under the Code. Revenue of the System shall also include any federal or state <br /> reimbursements of operating expenses to the extent such expenses are included as Costs of <br /> Maintenance and Operation;provided, however, that Revenue of the System shall not include <br /> ULID Assessments. For purposes of determining compliance with the Rate Covenant, amounts <br /> withdrawn from the Coverage Stabilization Account shall increase Revenue for the period in <br /> which they are withdrawn, and amounts deposited in the Coverage Stabilization Account shall <br /> reduce Revenue for the period during which they are deposited. Credits to or from the Coverage <br /> -1 7- P:\20287 CMW\20287 960 02/07/11 <br />