Ordinance 1963-93 - Laserfiche WebLink

(c) In the case of an investment that is held at the end of any Computation Period, the value of that investment at the end of the Computation Period. The words "Refunded Bonds" mean the outstanding indebtedness of the City under the Sultan River Project Agreement as described on page 1 of Ordinance No. 536-78, and water and sewer revenue bonds of the City issued under dates of December 1, 1965, and May 1, 1969, full provision for the payment of which has heretofore been made. The words "Refunded 1988 Bonds" mean the 1988 Bonds maturing on and after July 1, 2001 and $845,000 of such bonds maturing on July 1, 2000. The words "Refunding Trustee" mean the banking institution selected pursuant to Section 12 in its capacity as Refunding Trustee pursuant to the Escrow Agreement. The words "Reserve Account" mean any account created in the Revenue Bond Fund to secure the payment of the principal of and interest on any Parity Bonds. The words "1985 Reserve Account" mean the "1985 Water and Sewer Revenue Refunding Bond Reserve Account" created in the Revenue Bond Fund by Section 7 of Ordinance No. 1139-85 of the City. The words "1988 Reserve Account" mean the "1988 Water and Sewer Revenue and Refunding Bond Reserve Account" created in the Revenue Bond Fund by Section 9 of Ordinance No. 1433-88. The words "1992 Reserve Account" mean the 1992 Water and Sewer Revenue Bond Reserve Account created in the Revenue Bond Fund by Section 9 of Ordinance No. 1891-92. The words "1993 Reserve Account" means the "1993 Reserve Account" created in the Revenue Bond Fund by Section 8 of this Ordinance. The words "Reserve Account Requirement" mean, with respect to any issue of Parity Bonds, the lesser of(i) Maximum Annual Debt Service on such Parity Bonds, and (ii) 1.25 times Average Annual Debt Service on such Parity Bonds. -9- FWW04E.DOC 93/10/26