Res 2005-036 - Laserfiche WebLink

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"Bond" means any of the Bonds. "Bonds" means the City's bonds entitled "City of San Marcos, Texas, Waterworks and Waste Water System Revenue Refunding Bonds, Series 2005" authorized to be issued by Section 3.01 of this Ordinance. "Closing Date" means the date of the initial delivery of and payment for the Bonds. "Code" means the Internal Revenue Code of 1986, as amended, including applicable regulations, published rulings and court decisions relating thereto. "Designated PaymentJTransfer Office" means (i) with respect to the initial Paying Agent/Registrar named herein, its corporate trust office in Dallas, Texas, and (ii) with respect to any successor Paying Agent/Registrar, the office of such successor designated and located as may be agreed upon by the City and such successor. "Escrow Agent" means JPMorgan Chase Bank, National Association. "Escrow Agreement" means the escrow agreement, dated as of March 21,2005, by and between the City and the Escrow Agent. "Escrow Fund" means the fund referred to in Section 8.08(a) of this Ordinance and established by the Escrow Agreement to hold cash and securities for the payment of principal of and interest on the Refunded Obligations. "Event of Default" means any Event of Default as defined in Section 11.01 of this Ordinance. "F iscal Year" means twelve months' period beginning October 1 of each year and ending September 30 of the succeeding year. "Initial Bond" means the Bond described in Section 3.05(d) and 6.02(d). "Interest and Sinking Fund" means the interest and sinking fund provided by Section 8.01 (b) of this Ordinance. "Interest Payment Date" means the date or dates upon which interest on the Bonds is scheduled to be paid until the maturity or prior redemption of the Bonds. "Net Revenues" means the gross revenues of the System less the expense of operation and maintenance, including all salaries, labor, materials, repairs and extensions necessary to render efficient service, provided, however, that only such repairs and extensions as in the judgment of the City Council, reasonably and fairly exercised, are necessary to keep the System in operation and render adequate service to the City and the inhabitants thereof, or such as might be necessary to meet some physical accident or condition which would otherwise impair the security of any special obligations payable from and secured by a lien on the net revenues of the System shall be deducted in determining "Net Revenues". "Ordinance" means this Ordinance. "Original Issue Date" means the date of the Bonds. "Owner" means the person who is the registered owner of a Bond or Bonds, as shown in tbe Register. R:\San Marcos\WWWWRfd.05\Doe.\Ordinalloc\Ord Fillal.wpd 2