Ord 1994-059 - Laserfiche WebLink

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2"6£ "Additional Parity Obligations" means those obligations the City reserves the right to issue on a parity with the Bonds, herein authorized in accordance with the terms and conditions prescribed in Section 9.02 hereof. "Bond" means any of the Bonds, "Bonds" means the City's bonds entitled "City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, New Series 1994" 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. "Construction Fund" means the construction fund established by Section 8,Ol(a) of this Ordinance. "Designated Payment/Transfer 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. "DTC" shall mean The Depository Trust Company of New York, New York, or any successor securities depository. ! . ! "DTC Participant" shall mean any broker, dealer, bank, trust company, clearing corporation or ! certain other organizations with Bonds credited to an account maintained on its behalf by DTC. ! "Event of Default" means any Event of Default as defined in Section 10.01 of this Ordinance. "Fiscal 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 3.04(d) and 6.02(d). "Interest and Sinking Fund" means the interest ånd 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 July 1 of each year commencing January 1, 1995. "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". SANM AR.'.WWSS94 '.DQCS',Q RD NCE:O17 ,H: H BB F 2