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3 <br /> System means the sanitary sewage collection and treatment system of the City, including <br /> facilities for the collection and disposal of storm water runoff, as it now exists and as it may later <br /> be added to, extended and improved, and the existing water supply and distribution system of the <br /> City, including the interest of the City in the water supply facilities constructed by Public Utility <br /> District No. 1 of Snohomish County pursuant to the Sultan River Project Agreement, as it now <br /> exists and as it may later be added to,extended and improved,for as long as Parity Bonds remain <br /> outstanding. <br /> 2003 Bond Ordinance means Ordinance No. 2690-03 adopted by the Council on <br /> May 14,2003. <br /> 2003 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2003, issued <br /> under date of May 15,2003,pursuant to the 2003 Bond Ordinance. <br /> 2005 Bond Ordinance means Ordinance No. 2870-05 adopted by the Council on <br /> September 28, 2005. <br /> 2005 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2005, issued <br /> under date of October 14,2005,pursuant to Ordinance No. 2870-05. <br /> 2005 Refunded Bonds means the 2005 Bonds maturing on and after December 1,2016. <br /> 2009 Bonds mean the City's outstanding Water and Sewer Revenue and Refunding <br /> Bonds,2009,issued under date of May 13,2009,pursuant to Ordinance No. 3123-09. <br /> 2011 Bonds mean the City's outstanding Water and Sewer Revenue Bonds, 2011, issued <br /> under date of March 20,2011,pursuant to Ordinance No. 3211-11. <br /> Tax Maximum means the maximum dollar amount permitted by the Internal Revenue <br /> Code of 1986, as amended, including applicable regulations thereunder,to be allocated to a bond <br /> reserve account from bond proceeds without requiring a balance to be invested at a restricted <br /> yield. <br /> • <br /> - P:120287_CMW120287_9RC 01/02/13 <br />