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"Gross Revenue" means all income and revenues directly or indirectly derived by
<br />the District from the operation and use of the System, or any part thereof, including
<br />without limitation, any rates, fees, plant investment fees, standby charges, availability
<br />fees, tolls, and charges for the services furnished by, the use of, or the availability of the
<br />System, and all income attributable to any past or future dispositions of property or rights
<br />or related contracts, settlements, or judgments held or obtained in connection with the
<br />System, its operations or availability, and including investment income accruing from
<br />moneys attributable to the System held to the credit of the Water Enterprise Fund;
<br />provided however, that there shall be excluded from Gross Revenue any moneys
<br />borrowed and used for providing Capital Improvements; any money and securities, and
<br />investment income therefrom, in any refunding fund, escrow account, or similar account
<br />pledged to the payment of any bonds or other obligations; and any moneys received as
<br />grants or appropriations from the United States, the State of Colorado, or other sources,
<br />the use of which is limited or restricted by the grantor or donor to the provision of Capital
<br />Improvements or for other purposes resulting in the general unavailability thereof, except
<br />to the extent any such moneys shall be received as payments for the use of the System,
<br />services rendered thereby, the availability of any such service, or the disposal of any
<br />commodities therefrom.
<br />"Loan" means the loan made by the CWCB to the District pursuant to the Loan
<br />Contract and evidenced by the Note.
<br />"Loan Contract" means the Loan Contract dated as of April 11, 2012 between the
<br />District and the CWCB, including the Security Agreement, Promissory Note and Project
<br />Summary appended thereto, as amended by the First Loan Contract Amendment and the
<br />Loan Contract Amendment.
<br />"Loan Contract Amendment" means Loan Contract Amendment No. 2 C150324
<br />(including the Amendment No. 2 Promissory Note and Amendment No. 2 Security
<br />Agreement, each appended thereto).
<br />"Net Revenue" means the Gross Revenue after deducting the availability of
<br />service charge revenues and Operation and Maintenance Expenses.
<br />"Note" or "Promissory Note" means the Promissory Note evidencing the
<br />District's repayment obligation from the date of substantial completion of the Project, as
<br />set forth in Appendix 2 to the Loan Contract, as amended by the Loan Contract
<br />Amendment.
<br />"Operation and Maintenance Expenses" means all reasonable and necessary
<br />current expenses of the District, paid or accrued, for operating, maintaining, and repairing
<br />the System, including without limitation legal and overhead expenses of the District
<br />directly related to the administration of the System, insurance premiums, audits, charges
<br />of depository banks and paying agents, professional services, salaries and administrative
<br />expenses, labor, and the cost of materials and supplies for current operation; provided
<br />however, that there shall be excluded from Operation and Maintenance Expenses any
<br />allowance for depreciation, payments in lieu of taxes or franchise fees, legal liabilities not
<br />based on contract, expenses incurred in connection with Capital Improvements, payments
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