1993-080 - Laserfiche WebLink

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P. "Net Revenues" shall mean the Revenues less Operating Expenses. Q. "Operating Expenses" shall mean the current expenses paid or accrued for the operation, maintenance and repair of all facilities constituting a part of the System, as determined in accordance with generally accepted accounting methods, and shall include, without limiting the generality of the foregoing, insurance premiums, administrative expenses of the County related solely to the System, costs of labor, materials and supplies used for such operation and charges for the accumulation of appropriate reserves for current expenses not annually recurrent but which are such as may reasonably be expected to be incurred in accordance with such accepted accounting methods, but shall exclude payments into the Sinking Fund or the Reserve Account therein and any allowances for depreciation or for renewals or replacements of capital assets of the System. R. "Paying Agent" shall mean with respect to any particular series of Bonds issued hereunder the paying agent for said series of Blinds to be determined by subsequent resolution of the Board. S. "Pledged Funds" shall mean the Net Revenues, together with any other receipts, revenues and funds pledged in connection with the Bonds. T. "Record Date" shall mean the fifteenth (15th) day of the month immediately preceding an interest or other applicable payment date for the Bonds. U. "Registered Owner", "Bondholder" or any similar term shall mean any person who shall be the owner of any outstanding Bond or Bonds as shown on the books of the County maintained by the Bond Registrar. V. "Resolution" shall mean this resolution, as amended and supplemented from time to time. W. "Reserve Account Requirement" shall mean the lesser of (i) the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year; or (11) 1258 of the average annual amount of principal and interest on all outstanding Bonds becoming due in ensuing Fiscal Years. X. "Retired Bonds" shall mean the outstanding Series 1986 Bonds, the outstanding Series 1986A Bonds, the outstanding Series 1989 Bonds, the outstanding Series 1991 Bonds, the outstanding Series 1989 Special Assessment Bonds and the outstanding Series 1990 Special Assessment Bonds. Y. "Revenues" shall mean (1) the Uniform Charges; (2) the Series 1989 Special Assessment Revenues; (3) the Series 1990 Special Assessment Revenues; (4) the Series 1991 Revenues; (5) the Series 1993 Special Assessment Revenues; (6) subject to the consent of the Series 1993 Bond Insurer, such Surcharges, Impact Fees, Special Assessments, Franchise Fees and Fees in lieu of Franchise Fees as the Board, by resolution, may designate as Revenues; and (7) subject to the consent of the Series 1993 Bond Insurer, such other receipts and revenues of the County as the Board, by resolution, may designate as Revenues. "Revenues" shall not include, however, such receipts and revenues as, from time to time, may be released from the pledge created hereunder as permitted by Section 16 hereof. Z. "Series 1986 Bonds" shall mean the Indian River County, Florida Water and Sewer Revenue Bonds, Series 1986, dated as of December 20, 1989, in the