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<br /> <br /> <br /> <br /> <br /> <br /> Section 8. DEFINITIONS. That for all purposes of this Ordinance, the following <br /> words shall have the following meanings, respectively: <br /> <br /> (a) The term "City" or "Issuer" shall mean the City of Paris, in Lamar County, Texas. <br /> <br /> (b) The term "City Council" or "Council" shall mean the governing body of the Issuer. <br /> <br /> (c) The term "Revenue Bonds" shall mean the revenue bonds which the City reserves <br /> the right to issue in the future, all as provided in Section 13 of this Ordinance. <br /> <br /> (d) The term "System" or "Waterworks and Sewer System" shall mean the Issuer's <br /> entire existing waterworks and sewer system, together with all future extensions, <br /> improvements, enlargements, and additions thereto, and all replacements thereof; provided <br /> that, notwithstanding the foregoing, and to the extent now or hereafter authorized or <br /> permitted by law, the term System shall not mean any sewer, water, or other facilities of any <br /> kind which are declared not to be a part of the System, and which are acquired or <br /> constructed by the Issuer with the proceeds from the issuance of "Special Facilities Bonds", <br /> which are hereby defined as being special revenue obligations of the Issuer which are not <br /> payable from or secured by any Net Revenues, but which are secured by and payable from <br /> liens on and pledges of any other revenues, sources, or payments, including, but not limited <br /> to, special contract revenues or payments received from any other legal entity in connection <br /> with such facilities; and such revenues, sources, or payments shall not be considered as or <br /> constitute Gross Revenues of the System unless and to the extent otherwise provided in the <br /> ordinance or ordinances authorizing the issuance of such "Special Facilities Bonds". <br /> <br /> (e) The terms "Gross Revenues of the System" and "Gross Revenues" shall mean all <br /> revenues and income of every nature derived or received by the Issuer from the operation <br /> and ownership of the System, including the interest income from the investment or deposit <br /> of money in any Fund created by the ordinance for issuance of the Bonds or any Revenue <br /> Bonds. <br /> <br /> (f) The terms "Net Revenues of the System", and "Net Revenues" shall mean all <br /> Gross Revenues after deducting and paying the current expenses of operation and <br /> maintenance of the System out of the System Fund, hereinafter created, including all <br /> salaries, labor, materials, repairs, and extensions necessary to render efficient service, <br /> provided, however, that only such repairs and exrtensions, as in the judgment of the Issuer <br /> Council, reasonably and fairly exercised by the adoption of appropriate resolutions, are <br /> necessary to keep the System in operation and render adequate service to said Issuer and <br /> the inhabitants thereof, or such as might be necessary to meet some physical accident or <br /> condition which would otherwise impair the Bonds or Revenue Bonds, shall be deducted in <br /> determining "Net Revenues". Depreciation and amortization shall not be considered as an <br /> expense of operation and maintenance in determining Net Revenues. <br /> <br /> (g) The term "year" or "fiscal year" shall mean the fiscal year used by the Issuer in <br /> connection with the operation of the System. <br /> <br /> <br /> 21 <br />