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"Interest and Sinking Fund" means the interest and sinking fund provided by Section <br />8.01(b) of this Ordinance. <br />"Interest Payment Date" means the date or dates upon which interest on the Bonds is <br />scheduled to be paid until the maturity of the Bonds, such dates being and <br />of each year commencing , 20_. <br />"MSRB" means the Municipal Securities Rulemaking Board. <br />"Net Revenues" means the gross revenues of the System less the expense of operation <br />and maintenance, including all salaries, labor, materials, repairs and extensions necessary to <br />render efficient service, provided, however, that only such repairs and extensions as in the <br />judgment of the City Council, reasonably and fairly exercised, are necessary to keep the System <br />in operation and render adequate service to the City and the inhabitants thereof, or such as might <br />be necessary to meet some physical accident or condition which would otherwise impair the <br />security of any special obligations payable from and secured by a lien on the net revenues of the <br />System shall be deducted in determining "Net Revenues". <br />"Ordinance" means this Ordinance. <br />"Original Issue Date" means the date of the Bonds designated in Section 3.02(a) of this <br />Ordinance. <br />"Owner" means the person who is the registered owner of a Bond or Bonds, as shown in <br />the Register. <br />"Parity Revenue Obligations" means the Previously Issued Parity Obligations, the Bonds <br />and Additional Parity Obligations. <br />"Paying Agent/Registrar" means Regions Bank, any successor thereto or an entity which <br />is appointed as and assumes the duties of paying agent/registrar as provided in this Ordinance. <br />issues: <br />"Previously Issued Parity Obligations" means the outstanding bonds of the following <br />City of San Marcos, Texas, Waterworks and Waste Water System Revenue <br />Bonds, Series 2006; <br />City of San Marcos, Texas, Waterworks and Waste Water System Revenue <br />Bonds, Taxable Series 2006A; <br />City of San Marcos, Texas, Waterworks and Waste Water System Revenue <br />Bonds, Series 2007; and <br />3 <br />SANMARCOS/W W W SRev20 ] 7B: Ordinance <br />