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9 <br /> NRMSIR means a nationally recognized municipal securities information repository. <br /> Original Issue Discount Bonds means Parity Bonds which are sold at an initial public <br /> offering price of less than 95% of their face value and which are specifically designated as <br /> Original Issue Discount Bonds in the ordinance authorizing their issuance. <br /> Outstanding Parity Bonds means the 1997 Bonds, the 2002 Bonds, the 2003 Bonds and <br /> the 2005 Bonds. <br /> Parity Bonds means the Outstanding Parity Bonds, the Bonds and any water and sewer <br /> revenue bonds, warrants or other obligations that the City may hereafter issue having a lien upon <br /> the Revenue of the System for the payment of the principal thereof and interest thereon equal to <br /> the lien upon the Revenue of the System of the Outstanding Parity Bonds and the Bonds. <br /> Parity Requirement, from and after the New Covenant Date, means Net Revenues equal <br /> to or greater than 125% of average Annual Debt Service for all Parity Bonds computed by <br /> deducting from Annual Debt Service the Annual Debt Service for each series or issue of Parity <br /> Bonds that is covered by ULID Assessments. <br /> In determining the amount of Annual Debt Service "covered by ULID Assessments", <br /> Annual Debt Service for each future year is reduced by the dollar amount of ULID Assessments <br /> projected to be received during such future year, and the remaining outstanding ULID <br /> Assessments are assumed to be paid in the remaining number of annual installments with no <br /> prepayments. For purposes of determining whether the Parity Requirement has been met, <br /> transfers from the Coverage Stabilization Account shall not be taken into account. <br /> Private Person means any natural person engaged in a trade or business or any trust, <br /> estate, partnership, association, company or corporation. <br /> -13- P:120287 CMn20287_880 03/25/09 <br />