2009/04/15 Council Agenda Packet

U Service in any fiscal year or Base Period for all outstanding Parity Bonds and/or for all subordinate lien evidences of indebtedness secured by Revenue of the System, as the context requires. Moody's means Moody's Investors Service, 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, Moody's shall be deemed to refer to any other nationally recognized securities rating agency (other than S&P and Fitch) designated by the Chief Financial Officer. MSRB means the Municipal Securities Rulemaking Board. 1997 Bonds means the City's outstanding Water and Sewer Revenue Bonds, Series 1997, issued under date of March 1, 1997, pursuant to the 1997 Bond Ordinance. 1997 Bond Ordinance means Ordinance No. 2208-97 adopted by the Council on March 5, 1997. Net Proceeds, when used with reference to the Bonds, means the principal amount of the Bonds, plus accrued interest and original issue premium, if any, and less original issue discount and proceeds, if any, deposited in the Reserve Account. Net Revenue means Revenue of the System less Costs of Maintenance and Operation. New Covenant Date means the earlier of (a) the date on which all Outstanding Parity Bonds are no longer outstanding or (b) the date on which consent to the modifications identified in this ordinance as taking effect "from and after the New Covenant Date" is obtained from the requisite percentage of owners as provided in Section 19 of Ordinance Nos. 2607-02, 2690-03 and 2870-05. Notice of Sale means the notice of bond sale authorized to be given in Section 16 of this ordinance. 43 -12- P:\20287 CMW20287 88O 03/25/09