2009/04/15 Council Agenda Packet

3 Fixed Rate Bonds means those Parity Bonds other than Capital Appreciation Bonds, Original Issue Discount Bonds or Balloon Maturity Bonds issued under an ordinance in which the rate of interest on such Parity Bonds is fixed and determinable through their final maturity or for a specified period of time. If so provided in the ordinance authorizing their issuance, Parity Bonds may be deemed to be Fixed Rate Bonds for only a portion of their term. Future Parity Bonds means any water and sewer revenue bonds which the City may hereafter issue having a lien upon the Revenue of the System for the payment of the principal thereof and interest thereon equal to the lien upon the Revenue of the System of the Bonds and the Outstanding Parity Bonds. Government Loans means the PWTF Loans and subordinate lien revenue loans received by the City in the future from the State of Washington or the United States of America. Government Obligations means those obligations now or hereafter defined as such in chapter 39.53 RCW. Improvement Bonds mean the City's water and sewer revenue bonds issued pursuant to Section 4(a) of this ordinance. Insurer means such bond insurance company, if any, from which a Bond Insurance Policy may be acquired for one or more maturities of the Bonds. Letter of Representations means the blanket issuer letter of representations from the City to DTC. Maximum Annual Debt Service, prior to the New Covenant Date,means, with respect to any issue of Parity Bonds, the maximum amount of Annual Debt Service that will become due in any future calendar year on such Parity Bonds then outstanding and from and after the New Covenant Date, Maximum Annual Debt Service means highest dollar amount of Annual Debt ` n 1 -1 1- P:\20287_CMVN20287_880 03/25/09