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Debt Service on all Parity Bonds then outstanding times the <br /> difference of 1 minus the fraction calculated pursuant to (i) <br /> above; or (b) for any other period, the product of 1 . 25 times <br /> Maximum Annual Debt Service on all Parity Bonds then outstanding. <br /> The words "Debt Service Account" mean the account of that <br /> name created in the Revenue Bond Fund by Section 7 of Ordinance <br /> No . 1433-88 . <br /> The words "Escrow Agreement" mean that agreement between the <br /> City and the Refunding Trustee authorized to be executed pursuant <br /> to Section 14 of this ordinance substantially in the form <br /> attached hereto as Exhibit A. <br /> The words "1992 Debt Service Subaccount" mean the subaccount <br /> of that name created in the Debt Service Account by Section 9 of <br /> this ordinance . <br /> The words "Finance Director" mean the duly qualified and <br /> acting Finance Director of the City. <br /> The words "Maximum Annual Debt Service" mean, with respect <br /> to any issue of Parity Bonds, the maximum amount of Annual Debt <br /> Service which will become due in any future calendar year on such <br /> Parity Bonds then outstanding. <br /> The words "Net Revenue" mean the Revenue of the System less <br /> the Costs of Maintenance and Operation. <br /> The words "1988 Bonds" mean the "City of Everett, Water and <br /> Sewer Revenue Refunding Bonds, 1988" issued under date of <br /> February 1, 1988, pursuant to Ordinance No. 1433-88 . <br /> 8 Fwwoo3.Doc 92/09/21 <br />