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<br />... <br />.. .., <br /> <br />. <br /> <br />"J38crow Agreetl/.ellt' means an agreement between the District and tho Bscrow Agent <br />conocmina the duties and obligations ot the Escrow Agent with. respect to the de1Ws.nco of the <br />2003 BODds. <br /> <br />""Government 8eoJritid' means direct and genemJ obligations of; or obUgations that are <br />fully and I1I.\OOnditionally guaranteed IS to timely. paym.ent of prlncipa1 and interest by, the <br />. United States of America.. . <br /> <br />"Limited Mill LwJr means an ad valorem milI levy (8 mill being equal to one-tenth of <br />one cent) imposed upon all taxAble pt(fperty otthe District and on IllY other property subject to <br />the property tax of the District, each year in an amount sufficient to pay the pr.incJpat of and <br />interest OD the cwes Loans as the same become due oIlUd payable. but not m excess of sbt mills. <br />except as permitted in Section 126 of'the Colorado Water Couservatt.ty Act. <br /> <br />"Net Op,ratlon and MtMntrmanc8 E;cpensd' tuC8l2B all tcEIBonablo and neQClSS8l)' current <br />expenses of the District, paid.or accru~ .for operating end maintaining tho District, including <br />without limiting the seneraHty of the fomgojng, legal and overhead e:xpenses ot the Distrlot <br />directly related to the administration of the District, iosurance premiums, audim, charges of <br />doposit01'y banks m4 payioa agents, promssional services, salaries aDd .administ.rattvc expenses. <br />labor and the cost of materials and SUppUes. for cmrent Opera1ion; provided bowever, tImt there <br />shall be f:CtCluded from. Net Operation and Maintenance Expenses any aUOV\1lmCe for <br />depreclati~ any expense whioh is paid from revenues other than Pledged .ReveJJoes. expenSQS <br />mclhR:<!. in CODneotion with Capita.{ Improvements, payments due.ht oonnecUOD with the CWCB <br />Loans or other obIiga:tions. <br /> <br />"Net Plsdged R~ ~witb tcspect to any year in which Net Pledged Revenue is <br />calcuIat:ed, actUal P1eldged Revenue received by the District duri.ns such oalendar yeqr less Net <br />Operation and Maintenance Expenses; provided how'ever, rather tbaa fucIuding the aetual ad <br />'\raIorem property tax tovcrmes levied and. collc:oted by tbe District 1W such calendar year, the <br />aggresaw amount of ad valorem property 1ax revemJes shall .be oa1cu1ated based upon an <br />assumption tbat 1ho District had levied.. total of ~ mills against the assessed valuation of the <br />District for such period and that all ofsunlt revenues were collected by the District. <br /> <br />"Pledged Revenues" means the moneys dcrlved by the District from the following <br />so1JtOe8. net of any coste of ool1ect:ion: . <br /> <br />(a) the Limited Mill Levy; <br /> <br />(b) the Ipecific ownet&bip taxes received by the DisCrlct; and <br /> <br />(0) anyotbe.r legally available moneys. <br /> <br />I'P1'ojecf' means any purpose for which ~ moneys may be expended under the <br />Water Conservancy A.ot and the Ballot Question. <br /> <br />"Public Securlties Refiwllng A.ct. means Attio1e S6 of Title 11, CoIomdo ~ <br />S~ as amended. <br /> <br />02-t'15415.1 <br /> <br />3 <br />