Laserfiche WebLink
"Note Account" means the "2016 CWCB Promissory Note Account," established by the <br /> provisions hereof for which legally available moneys will be credited to satisfy the obligation of <br /> the Promissory Note. <br /> "Net Revenues" means all income and revenues directly or indirectly derived by the <br /> District from the operation and use of the System, or any part thereof, after deducting all <br /> reasonable and necessary current expenses of the District, paid or accrued, for operating, <br /> maintaining and repairing the System. In its calculation of Net Revenues, the District shall be <br /> permitted to take into consideration nonoperating revenue such as ad valorem property taxes and <br /> specific ownership taxes received by the District. <br /> "Parity Obligations" means loans, bonds, notes, debentures, or other multiple fiscal year <br /> financial obligations having a lien upon the Pledged Revenues or any part thereof on a parity <br /> with the lien thereon of the Promissory Note. <br /> "Payment Dates" means the dates established pursuant to the Loan Contract for the <br /> annual payment of the principal of and interest on the Promissory Note, as set forth therein. <br /> "Pledged Revenues" means the Net Revenues of the District, provided that any Net <br /> Revenues of the District that are not legally available for payment of the debt service on the <br /> Promissory Note shall not be considered a Pledged Revenue. <br /> "Project" means any purpose for which proceeds of the Promissory Note may be <br /> expended under the Enabling Laws and the Ballot Authorization, as more specifically described <br /> in Appendix 1 to the Loan Contract. <br /> "Project Account" means the "2016 CWCB Promissory Note Project Account," <br /> established by the provisions hereof for the purpose of paying the Project Costs. The Project <br /> Account may include separate subaccounts relating to the respective Loan Contract. <br /> "Project Costs" means the District's costs properly attributable to the Project and <br /> permissible as"Eligible Expenses" as set forth in provision B(2) of the Loan Contract. <br /> "Promissory Note" means the Promissory Note evidencing the District's repayment <br /> obligation from the date of substantial completion of the Project, as set forth in Appendix 3 to the <br /> Loan Contract. <br /> "Required Reserve Amount" means the amount equal to an annual loan payment as <br /> specified for the Required Reserve Amount under Section A(8)(d) of the Loan Contract. <br /> "Reserve Account" means a special account of the District designated as the "2016 <br /> CWCB Promissory Note Reserve Account," established by this Resolution for the purpose of <br /> paying, if necessary, the principal of and interest on the Promissory Note. <br /> "Resolution"means this Resolution, including any amendments or supplements hereto. <br /> "State"means the State of Colorado. <br /> {00488776.DOC/2} 3 <br /> 4833-8387-9213.1 <br />