Ordinance 2870-05 - Laserfiche WebLink

Government Obligations means those obligations now or hereafter defined as such in chapter 39.53 RCW. Insurer means the municipal bond insurance company, if any, selected and designated by the Chief Financial Officer, pursuant to Section 17 of this ordinance, or any successor thereto or assignee thereof, as issuer of a Bond Insurance Policy for the Bonds. Letter of Representations means the blanket issuer letter of representations from the City to DTC. Maximum Annual Debt Service 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. 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 Ordinance No. 2208-97. 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 the Revenue of the System less the Costs of Maintenance and Operation. NRMSIR means a nationally recognized municipal securities information repository. Outstanding Parity Bonds means the 1997 Bonds, the 2002 Bonds and the 2003 Bonds. Parity Bonds means the Outstanding Parity Bonds, the Bonds and any water and sewer revenue bonds, warrants or other obligations that the City may hereafter issue having a lien upon -6- P:\CMW\CMW6WH 09/06/05