Ord 1992-032 - Laserfiche WebLink

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ARTICLE I DEFINITIONS AND OTHER PRELIMINARY MATTERS Section 1. 01. Definitions. Unless otherwise expressly provided or unless the context clearly requires otherwise, in this Ordinance the following terms shall have the meanings specified below: "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 1992" 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 8.01(a) of this Ordinance. "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 and sinking fund established 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 unti 1 the maturity of the Bonds, such dates being January I and July 1 of each year commencing January 1, 1993. "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 4322f -2-