Ordinance 536-78 - Laserfiche WebLink

, r ' , : debt service or into reserve, accounts , costs of capital additions to or replacements of the System, municipal taxes, or payments to the City in lieu of taxes. h. The word "Council" means the Council of the City as the same shall be duly and regularly constituted from time to time. i. The words "Debt Service Account" mean the account of that name created in the Revenue Bond Fund by Section 7 of this Ordinance. j . The words "Net Revenue" mean the Revenue of the System less the Costs of Maintenance and Operation. k. The words "Parity Bonds" mean the Bonds , and any water and sewer revenue bonds which the City may hereafter issue having a lien upon the Revenue of the System for the payment of the principal thereof and interest thereon equal to the lien upon the Revenue of the System of the Bonds. 1. The words "Refunded Bonds" mean the outstanding indebted- ness of the City under the Sultan River Project Agreement as des- cribed on page 1 of this Ordinance, and the 1963 Water Bonds, the 1965 Water Bonds, the 1960 Sewer Bonds, the 1963 Water Bonds, and the 1969 Sewer Bonds, as described on pages 1-4 of this Ordinance. m. The words "Revenue Bond Fund" mean the 1978 City of Everett Water and Sewer Revenue Bond Fund created in the office of the Treasurer of the City by Section 7 of this Ordinance. n. The words "Revenue of the System" mean all earnings, revenue and moneys received by the City from or on account of the operation of the System, including the income from investments of money in the Water and Sewer Revenue Fund and the Revenue Bond Fund or from any other investment thereof except the income from investments irrevocably pledged to the payment of the Refunded Bonds or any other water and sewer revenue bonds pursuant to a plan of retirement or refunding. The words "Revenue of the System" shall also include any federal or state reimbursements of -6-