|
0 0
<br />"Gross Revenue" means all income and revenues directly or indirectly derived by the
<br />District from the operation and use of the Water System, or any part thereof, including without
<br />limitation, any rates, fees, plant investment fees, standby charges, availability fees, tolls, and
<br />charges for the services furnished by, the use of, or the availability of the Water System, and all
<br />income attributable to any past or future dispositions of property or rights or related contracts,
<br />settlements, or judgments held or obtained in connection with the Water System, its operations or
<br />availability, and including investment income accruing from moneys attributable to the Water
<br />System held to the credit of the Water Enterprise Fund; provided however, that there shall be
<br />excluded from Gross Revenue any moneys borrowed and used for providing Capital
<br />Improvements; any money and securities, and investment income therefrom, in any refunding
<br />fund, escrow account, or similar account pledged to the payment of any bonds or other
<br />obligations; and any moneys received as grants or appropriations from the United States, the
<br />State of Colorado, or other sources, the use of which is limited or restricted by the grantor or
<br />donor to the provision of Capital Improvements or for other purposes resulting in the general
<br />unavailability thereof, except to the extent any such moneys shall be received as payments for
<br />the use of the Water System, services rendered thereby, the availability of any such service, or
<br />the disposal of any commodities therefrom.
<br />"Loan" means the loan made by the CWCB to the District pursuant to the Loan Contract
<br />and evidenced by the Note.
<br />"Loan Contract" means the Loan Contract dated as of December 2011 between the
<br />District and the CWCB, including the Security Agreement, Promissory Note and Project
<br />Summary appended thereto.
<br />"Net Revenue" means the Gross Revenue after deducting the availability of service
<br />charge revenues and Operation and Maintenance Expenses.
<br />"Note" or "Promissory Note" means the Promissory Note evidencing the Town's
<br />repayment obligation from the date of substantial completion of the Project, as set forth in
<br />Appendix 2 to the Loan Contract.
<br />"Operation and Maintenance Expenses" means all reasonable and necessary current
<br />expenses of the District, paid or accrued, for operating, maintaining, and repairing the Water
<br />System, including without limitation legal and overhead expenses of the District directly related
<br />to the administration of the Water System, insurance premiums, audits, charges of depository
<br />banks and paying agents, professional services, salaries and administrative expenses, labor, and
<br />the cost of materials and supplies for current operation; provided however, that there shall be
<br />excluded from Operation and Maintenance Expenses any allowance for depreciation, payments
<br />in lieu of taxes or franchise fees, legal liabilities not based on contract, expenses incurred in
<br />connection with Capital Improvements, payments due in connection with any bonds or other
<br />obligations issued to provide Capital Improvements, and charges for the accumulation of
<br />reserves.
<br />"Parity Lien Bonds" means, collectively: (a) the Prior Parity Obligations; and (b) one or
<br />more series of additional bonds, notes, interim securities, or other obligations having a lien on
<br />the Adjusted Net Revenue on a parity with the lien pledged to the CWCB in the Loan Contract
<br />that are issued by the District in conformance with the provisions of the Loan Contract, the 1999
<br />48194015 - 3614.1
<br />
|