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(0 LA VI "Fiscal Year" means twelve months' period beginning October 1 of each year and ending September 30 of the succ=ding year. "Init.:ial Bond" means the Bond descnòed in Section 3.04(d) and 6.02(d). "Interest and Sinking Fund" means the interest and sinking fund established by Section 8.01(a) 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 of the Bonds, such dates being January 1 and August 15 of each year commencing February 15, 1996. "Net Revenues" means the gross revenues of the System less the expense of operation and maintenance, including all sala.ries, 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 ~urcd 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 initial date from which interest on the Bonds accrues and which is designated in Section 3.02(a) of this Ordinance. "Owner" means the person who is the registered owner of a Bond or Bonds, as shown in the Register. "Parity Revenue Obligations" means the Bonds and Additional Parity Obligations. "Paying AgentlRegistrar" means Texas Commerce Bank: National Association, any successor thereto or an entity which is appointed as and assumes the duties of paying agent/registrar as provided in this Ordinance. .¿ "Purchaser" means the person, firm or entity initially purchasing the Bonds from the City and which is designated in Section 7.01 of this Ordinance. "Record Date" means the last business day of the month next preceding an Interest Payment Date. "Register" means the Register specified in Section 3.06(a) of this Ordinance. "Representation Letter" means the Letter of Representations with respect to the Bonds, between the City and DTC. "Series 1984-A Certificates" means the City of San Marcos, Texas, Combination Tax and Revenue Certificates of Obligation, Series 1984-A, dated April 1, 1984. "Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this Ordinance. "Surety" means "Surety Policy" means a surety bond, insurance policy, letter of credit or other agreement or instrument, including any reIated reimbursement or financial guaranty agreement, by which the issuer is obligated to provide funds up to and including the maximum amount and under the conditions specified in such agreement or instrument, provided that the issuer of any Surety Policy shall be rated, at the time of issuance of such Surety Policy, in the highest rating category by A.M. Best Company, Standard & Poor's Ratings Group or Moody's Investors Service. "System" means the City's combined Waterworks and Sewer System, including all present and future extensions, enlargements, additions, replacements and improvements thereto. "Unclaimed Payments" means money deposited with the Paying AgentIRegistrar for the payment of the principal of or interest on the Bonds as the same come due and payable and remaining unclaimed by the Owners of Bonds for 90 days after the applicable payment or redemption date. Section 1.02. Other Definitions.