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5/6/74 <br /> <br /> (h) "City Council" or "Council" means the City Council of said City <br /> <br /> (c) "Director of Finance" means the Director of Finance of said City. <br /> <br /> (d) "Clerk" means thc Clerk of the Council of said City. <br /> <br /> (e) "Revenue Bond Law" means the Revenue Bond Law of 1941 as cited in the recitals hereof. <br /> <br /> (f) "The bunds", "said bonds" or "this series" means the $1,950,000 bonds authorized by <br />this resolution. <br /> <br /> (g) "Enterprise" means the enterprise defined in said Ordinance No. NS-561 calling said <br />election, as follows: <br /> The entire waterworks system of the City of Santa Ann as said system now exists together <br /> with all additions to be acquired, constructed and financed with funds derived from the sale <br /> of the revenue bonds herein proposed to be issued, together with all improvements and <br /> extensions to said system later constructed or acquired. <br /> <br /> (h) "Gross revenues of the enterprise" means all revenues (as defined in Section 54315 <br />of the Government Code, which include all charges received for, and all other income and receipts <br />derived by the city from the operation of the enterprise or arising from the enterprise) received by <br />the city from the services, facilities and water sales of the enterprise, excepting therefrom all <br />reimbursement charges, connection charges, and deposits to secure service. <br /> <br /> (i) "Necessary and reasonable maintenance and operation costs of the enterprise" means the <br />reasonable expenses of management, repair and other expenses necessary to maintain and preserve <br />the enterprise in good repair and working order, excluding depreciation and obsolescence. <br /> <br /> (j) "Net revenues of the enterprise" means the amount of the gross revenues of the enterprise <br />remaining after payment therefrom of the necessary and reasonable maintenance and operation <br />costs of the enterprise. <br /> <br /> (k) "Maximum amount of annual debt service" shall be the maximum sum obtained for any <br />fiscal year thereafter by totaling the following: <br /> (a) The principal amount of all outstanding bonds payable in such fiscal year; <br /> (b) The amount of minimum term bond payments for all outstanding bonds required <br /> to be made in such fiscal year together with the premium thereon, if any be payable; and <br /> (c) The interest which would be due during such fiscal year on the aggregate principal <br /> amount of bonds which would be outstanding in such fiscal year if the bonds are retired as <br /> scheduled, but deducting and excluding from such aggregate amount the amount of bonds <br /> retired in advance of said schedule. <br /> <br /> (1) "Parity Bonds" means revenue bonds, revenue notes or any other evidences of indebtedness <br />which may be authorized and/or issued for the acquisition, construction and financing of extensions <br />of, additions to, and improvements of the enterprise, payable out of the revenues derived from the <br />enterprise and which, as provided in this resolution, rank on a parity with the bonds of this series. <br /> <br /> (m) "Subsequent resolution" means any resolution of issuance for any parity bonds. <br /> <br /> (n) "Resolution No. 62-92" means the resolution adopted by the Council on May 18, 1962, <br />authorizing the issuance of Series A bonds. <br /> <br /> (o) "Resolution No. 63-178" means the resolution adopted by the Council on November 18, <br />1963 authorizing the issuance of Series B bonds. <br /> <br /> (p) "Outstanding bonds" means all outstanding bonds of any series of bonds of the issue <br />of which this series is a part and any parity bonds. <br /> <br /> (q) "Fiscal year" means the year period beginning on July 1st and ending on the next <br />following June 30th. <br /> <br /> <br />