2000-011-ORD AUTHORIZING ISSUANCE OF WATERWORKS AND SEWER SYSTEM REVENUE BONDS SERIES 2000

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(e) The terms "Gross Revenues of the System" and "Gross Revenues" shall mean all revenues and income of every nature derived or received by the Issuer from the operation and ownership of the System, including the interest income from the investment or deposit of money in any Fund created by the ordinance for issuance of the Bonds or any Revenue Bonds. (f) The terms "Net Revenues of the System", and "Net Revenues" shall mean all Gross Revenues after deducting and paying the current expenses of operation and maintenance of the System out of the Revenue Fund, hereinafter created, including all salaries, labor, materials, repairs, and extensions necessary to render efficient service, provided, however, that only such repairs and extensions, as in the judgment of the City Council, reasonably and fairly exercised by the adoption of appropriate resolutions, are necessary to keep the System in operation and render adequate service to said Issuer and the inhabitants thereof, or such as might be necessary to meet some physical accident or condition which would otherwise impair the Bonds or Revenue Bonds, shall be deducted in determining "Net Revenues". Depreciation and amortization shall not be considered as an expense of operation and maintenance in determining Net Revenues. (g) The term "Outstanding Bonds" shall mean the outstanding bonds payable from a first lien on and pledge of the Net Revenues of the System, being the Series 1992 Bonds, Series 1997 Bonds and the Series 1998 Bonds. (h) The term "Revenue Bonds" shall mean the revenue bonds which the City reserves the right to issue in the future, all as provided in Section 24 of this Ordinance. (i) The term "Surplus Revenues" shall mean each month the Net Revenues of the System after payment provisions for debt service and reserve requirements in connection with all of the Bonds and/or Revenue Bonds. (j) The term "System" or "Waterworks and Sewer System" shall mean the Issuer's entire existing waterworks and sewer system, together with all future extensions, improvements, enlargements, and additions thereto, and all replacements thereof; provided that, notwithstanding the foregoing, and to the extent now or hereafter authorized or permitted by law, the term System shall not mean any sewer, water, or other facilities of any kind which are declared not to be a part of the System, and which are acquired or constructed by the Issuer with the proceeds from the issuance of "Special Facilities Bonds", which are hereby defined as being special revenue obligations of the Issuer which are not payable from or secured by any Net Revenues, but which are secured by and payable from liens on and pledges of any other revenues, sources, or payments, including, but not limited to, special contract revenues or payments received from any other legal entity in connection with such facilities; and such revenues, sources, or payments shall not be considered as or constitute Gross Revenues of the System unless and to the extent otherwise provided in the ordinance or ordinances authorizing the issuance of such "Special Facilities Bonds". (k) The term "year" or "fiscal year" shall mean the fiscal year used by the Issuer in connection with the operation of the System. 22