|
"S. "Operating Expenses" shall mean the current expenses paid or
<br />accrued for the operation, maintenance and repair of all facilities constituting
<br />a part of the System, as determined in accordance with generally accepted
<br />accounting methods, and shall include, without limiting the generality of the
<br />foregoing, insurance premiums, administrative expenses of the County related
<br />solely to the System, costs of labor, materials and supplies used for such
<br />operation and charges for the accumulation of appropriate reserves for current
<br />expenses not annually recurrent but which are such as may reasonably be expected
<br />to be incurred in accordance with such accepted accounting methods, but shall
<br />exclude payments into the Sinking Fund or the Reserve Account therein and any
<br />allowances for depreciation or for renewals or replacements of capital assets
<br />of the System.
<br />"T. "Operation and Maintenance Fund" shall mean the account created
<br />pursuant to this Resolution for the purpose of receiving and maintaining funds
<br />transferred from the Revenue Fund for the payment of Operating Expenses.
<br />"U. "Original Bonds" shall mean the bonds of the County known as
<br />the Water and Sewer Revenue Bonds, Series 1979, dated August 30, 1979, the Water
<br />and Sewer Revenue Bonds, Second Series 1979, dated May 21, 1981, the Water
<br />Revenue Bonds, Series 1980 (South County Water System), dated September 30,
<br />1982, and the Water and Sewer Revenue Bonds, Series 1982, dated April 30, 1985.
<br />"V. "Paying Agent" shall mean the Paying Agent to be determined
<br />by subsequent resolution of the Board.
<br />"Pledged Funds"
<br />any other receipts,re en esanshall
<br />ndspledged in onnec ion with tthe tBonds.
<br />"X. "Record Date" shall mean the fifteenth (15th) day of the month
<br />immediately preceding an interest or other applicable payment date for the
<br />Bonds.
<br />"Y. "Registered Owner", "Bondholder" or any similar term shall
<br />mean any person who shall be the owner of any outstanding Bond or Bonds as shown
<br />on the books of the County maintained by the Bond Registrar.
<br />"Z. "Renewal and Replacement Fund" shall mean the account created
<br />pursuant to this Resolution into which funds shall be deposited as herein
<br />provided for the purpose of providing funds for payment of the costs and
<br />expenses of renewals and replacements to the System.
<br />"AA. "Required Renewal Fund Payments" shall mean the amounts
<br />required to be deposited in each month to the credit of the renewal and
<br />- 5 -
<br />4
<br />"S. "Operating Expenses" shall mean the current expenses paid or
<br />accrued for the operation, maintenance and repair of all facilities constituting
<br />a part of the System, as determined in accordance with generally accepted
<br />accounting methods, and shall include, without limiting the generality of the
<br />foregoing, insurance premiums, administrative expenses of the County related
<br />solely to the System, costs of labor, materials and supplies used for such
<br />operation and charges for the accumulation of appropriate reserves for current
<br />expenses not annually recurrent but which are such as may reasonably be expected
<br />to be incurred in accordance with such accepted accounting methods, but shall
<br />exclude payments into the Sinking Fund or the Reserve Account therein and any
<br />allowances for depreciation or for renewals or replacements of capital assets
<br />of the System.
<br />"T. "Operation and Maintenance Fund" shall mean the account created
<br />pursuant to this Resolution for the purpose of receiving and maintaining funds
<br />transferred from the Revenue Fund for the payment of Operating Expenses.
<br />"U. "Original Bonds" shall mean the bonds of the County known as
<br />the Water and Sewer Revenue Bonds, Series 1979, dated August 30, 1979, the Water
<br />and Sewer Revenue Bonds, Second Series 1979, dated May 21, 1981, the Water
<br />Revenue Bonds, Series 1980 (South County Water System), dated September 30,
<br />1982, and the Water and Sewer Revenue Bonds, Series 1982, dated April 30, 1985.
<br />"V. "Paying Agent" shall mean the Paying Agent to be determined
<br />by subsequent resolution of the Board.
<br />"Pledged Funds"
<br />any other receipts,re en esanshall
<br />ndspledged in onnec ion with tthe tBonds.
<br />"X. "Record Date" shall mean the fifteenth (15th) day of the month
<br />immediately preceding an interest or other applicable payment date for the
<br />Bonds.
<br />"Y. "Registered Owner", "Bondholder" or any similar term shall
<br />mean any person who shall be the owner of any outstanding Bond or Bonds as shown
<br />on the books of the County maintained by the Bond Registrar.
<br />"Z. "Renewal and Replacement Fund" shall mean the account created
<br />pursuant to this Resolution into which funds shall be deposited as herein
<br />provided for the purpose of providing funds for payment of the costs and
<br />expenses of renewals and replacements to the System.
<br />"AA. "Required Renewal Fund Payments" shall mean the amounts
<br />required to be deposited in each month to the credit of the renewal and
<br />- 5 -
<br />
|