2011/03/02 Council Agenda Packet

10 Stabilization Account that occur within 90 days after the end of a fiscal year may be treated as occurring within such fiscal year. Rule means the Securities and Exchange Commission's Rule 15c2-12 under the Securities Exchange Act of 1934. S&P means Standard & Poor's, a Division of The McGraw Hill Companies, 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, S&P shall be deemed to refer to any other nationally recognized securities rating agency (other than Moody's and Fitch) designated by the Chief Financial Officer. System means the sanitary sewage collection and treatment system of the City, including facilities for the collection and disposal of storm water runoff, as it now exists and as it may later be added to, extended and improved, and the existing water supply and distribution system of the City, including the interest of the City in the water supply facilities constructed by Public Utility District No. 1 of Snohomish County pursuant to the Sultan River Project Agreement, as it now exists and as it may later be added to, extended and improved, for as long as Parity Bonds remain outstanding. 2002 Bonds mean the City's outstanding Water and Sewer Revenue Refunding Bonds, 2002, issued under date of June 1, 2002,pursuant to Ordinance No. 2607-02. 2003 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2003, issued under date of May 15, 2003, pursuant to Ordinance No. 2690-03. 2005 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2005, issued under date of October 14, 2005, pursuant to Ordinance No. 2870-05. 89- P:\20287_CMW\20287 960 02/07/11