Ordinance 536-78 - Laserfiche WebLink

• , operating expenses to the extent .such expenses are included as "Maintenance and Operation Costs of the System. " o. The words "Sultan River Project Agreement" mean the agreement dated July 21, 1961 by and between the City and Public Utility District No. 1 of Snohomish County, Washington, providing for the construction of and payment for a combined water supply and hydro-electric facility in the Sultan River basin. p. The word "System" means the existing 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 F.U.D. 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 the Bonds remain outstanding. q. The words "Term Bonds" mean any Parity Bonds identified as such in the Ordinance authorizing the issuance thereof, the payment of which is provided for by a requirement for mandatory deposits of money into a "sinking fund account" in the Revenue Bond Fund. Section 2 . Refunding Plan. A. 1978 Refunding Account. There is hereby created in the office of the Treasurer of the City, a special fund to be known as the " 1978 Refunding Account" . There shall be credited to the 1978 Refunding Account the Acquired Obligations listed on Schedule A-1 and any necessary beginning cash balance. Such Acquired Obligations, taking into account interest to be earned thereon, and beginning cash shall be sufficient to make the payments set forth in paragraphs B, C and D of this Section. -7-