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City of Santa Ana <br />Agreement No.: D2201000 <br />Project No.: C-06-8478-1 10 <br />Page 7 of 48 <br />"Revenues" means, for each Fiscal Year, all gross income and revenue received or receivable by the <br />Recipient from the ownership or operation of the System, determined in accordance with GAAP, including <br />all rates, fees, and charges (including connection fees and charges) as received by the Recipient for the <br />services of the System, and all other income and revenue howsoever derived by the Recipient from the <br />ownership or operation of the System or arising from the System, including all income from the deposit or <br />investment of any money in the Enterprise Fund or any rate stabilization fund of the Recipient or held on <br />the Recipient's behalf, and any refundable deposits made to establish credit, and advances or <br />contributions in aid of construction. <br />"Rule 15c2-12(b)(5)" means Rule 15c2-12(b)(5) promulgated by the Securities and Exchange <br />Commission pursuant to the Securities Exchange Act of 1934, as amended. <br />"Senior Obligation" means a debt obligation of the Recipient that is senior to this Obligation. There are no <br />Senior Obligations. <br />"SRF" means the Clean Water State Revolving Fund. <br />"State" means State of California. <br />"State Water Board" means the State Water Resources Control Board. <br />"Subordinate Obligation" means a debt obligation of the Recipient that is subordinate to this Obligation. <br />There are no Subordinate Obligations. <br />"System" means all wastewater collection, pumping, transport, treatment, storage, and disposal facilities, <br />including land and easements thereof, owned by the Recipient, including the Project, and all other <br />properties, structures, or works hereafter acquired and constructed by the Recipient and determined to be <br />a part of the System, together with all additions, betterments, extensions, or improvements to such <br />facilities, properties, structures, or works, or any part thereof hereafter acquired and constructed. <br />"System Obligation" means any obligation of the Recipient payable from the Revenues, including but not <br />limited to this Obligation, any Parity Obligation, any Subordinate Obligation, and such additional <br />obligations as may hereafter be issued in accordance with the provisions of such obligations and this <br />Agreement. <br />"Useful Life" means the economically useful life of the Project beginning at Completion of Construction <br />and is set forth in Exhibit A. <br />"Year" means calendar year unless otherwise expressly indicated. <br />CWSRF/DWSRF 29vi2022 <br />