62-092 - Laserfiche WebLink

Home Browse Search

(c) "Director of Finance" means the Director of Finance of said City. (d) "Clerk" means the Clerk of the Council of said City. (e) "Revenue Bond Law" means the Revenue Bond Law of 1941 as cited in the recitals hereof. (f) "The bonds", "said bonds" or ~this series" means the $3°000,000 bonds authorized by this resolution. (g) "Enterprise" means~the enterprise defined in said Ordinance No. NS-561 calling said election, as follows: The entire waterworks system of the City of Santa Ana as said system now exists together with all additions to be acquired, constructed and financed with funds derived from the sale of the revenue bonds herein proposed to be issued, together with all im- provements and extensions to said system later constructed or acquired. (h) "Gross revenues of the enterprise" means all revenues (as defined in Section 54315 of the Government Code, which include all charges received for, and all other income and receipts derived by the city from the operation of the enterprise or arising from the enterprise) received by the city from the services, facilities and water sales of the enterprise, excepting therefrom all reimbursement charges, connection charges, and deposits to secure service. (1) "Necessary and reasonable maintenance and operation costs of the enterprise"means the reasonable expenses of management, repair and other expenses necessary to maintain and preserve the enterprise in good repair and working order, excluding depreciation and obsolescence. (j) "Net revenues of the enterprise" means the amount of the gross revenues of the enterprise remaining after payment therefrom of the necessary and reasonable maintenance and operation costs of the enterprise. (k) "Maximum amount of annual debt service" shall be the maximum sum obtained for any fiscal year thereafter by totaling the following: (a) The principal amount of all outstanding bonds payable in such fiscal year; (b) The amount of minimum term bond payments for bonds required to be made in such fiscal year together with the premium thereon, if any be payable; and (c) The interest which would be due during such fiscal year on the aggregate princi- pal amount of bonds which would be outstanding in such fiscal year if the bonds are retired as scheduled, but deducting and excluding from such aggregate amount the amount of bonds retired in advance.of said schedule. (1) "Parity Bonds" means revenue bonds (including further series of bonds of the issue of which this series isa part) revenue notes or any other evidences of indebtedness which may be authorized and/or issued for the acquisition, construction and financing of extensions of, additions to, and improvements of the enterprise, payable out of the revenues derived from the enterprise and which, as provided in this resolution, rank on a parity with the bonds of this series. (m) "Subsequent resolution" means any resolution of issuance for any parity bonds. 2