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Interest Yavment llate <br /> "Interes! Payment Date"means any June 1 or December i on which interest on any Serics of <br /> the Bonds is scheduled to be paid or any other dates designated for the payment of interest on such <br /> Series of the Bonds by the Supplemcntal Indenturc relating to such Series of the Bonds. <br /> � <br /> "Law" means the Charter and those porlions of Section 54300 et seq. of the Government <br /> Code of the State of California, as smended, and all laws amendatory thercof or supplemental <br /> thereto,which are incorporated by reference into the Charter. <br /> Letter of Representations <br /> "Letter of Representations" means a letter of the Port delivered to and accepted by the <br /> Depository at or prior to the issuance of any Book-Entry Bonds settin� forth the basis on which the <br /> Depository serves as depository for such Book-Entry Sonds, as originally executed or as it may be <br /> �applemented or revised or replgced by a letter of the Port to a substitute depository. <br /> Maintenance and Operation Costs <br /> "Maintenance and Operation Costs" means the reasonable and necessary eosts paid or <br /> incurred by the Port for maintaining and operatinb the Enterprise, determined in accordance with <br /> Generally Accepted Accounting Principles, including the operation, promotion snd maintenunce of <br /> all harbor or pon improvements, works, utilities, appliances, facilities, services, maritime related <br /> recrention facilities and watereraR, owned,eontrolled or operated by the Port for the promotion and <br /> accommodation of commerce, navigation and fishery,or used in connection therewith,as well As all <br /> administrative costs of tl�e Port that are charged dii�ectly or apportioned to the operation of the <br /> Enterprise, such sss salaries and wages of employees, overhead, taxes (if any) and insurance <br /> premiums(including payments required to be paid into any self-insurance funds), and including all <br /> other reasonable and necessary costs of the Port or charges required to be paid by it to comply with <br /> the terms hereof or of any Supplemental lndenture or of any resolution authorizin�the exccution of <br /> any Contract or of such Contract,such as compensation, reimbursement and indemnification of the , <br /> Trustee and fees and expenses of Independent Certified Public Accountants; but excluding in all <br /> cases (i)the principal of and interest on Bonds, Contract Paymonts, Repayment Obligations, and <br /> payment with respect to Subordinate Obligations, (ii)costs of capital additions, replacements, <br /> betterments, extensions or improvements which, under Generally Accepted Accounting Principles, <br /> are chargeable to a capital account, (iii)deprecistion, replacement and obsolescence charges or <br /> rescrves thcrefor and amortization of intangibles,and(iv)City Payments. <br /> M�ximum Annual Debt Service <br /> "Maximum Annual Debt Service" means, as of any date of calculation, the lar�est Annual <br /> Debt Service during the period from'the date of such calculation throu�h the fina) maturity date of <br /> all Outstanding f3onds or the final Contract Paymcnt Date of all Contracts,whichever date is Iater. <br /> �zo9a 9�z2�ai.aoos I I <br /> , <br />