Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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_------- _ . _ . _ _,. !_ _ "Finance Officer" means the Director of Finance or City Manager of the City, or their designated representatives. "Fiscal Year' means the twelve calendar month period terminating on June 30 of each year, or any other annual accounting period hereafter selected and designated by the City as its Fiscal Year in accordance with applicable law. "Generally Accepted Accounting Principles" means the uniform accounting and reporting procedures prescribed by the Califomia State Controller or his successor for municipalities in the State of California, or failing the prescription of such procedures, means generally accepted accounting principles as presented and recommended by the American Institute of Certified Public Accountants or its successor, or by the Governmental Accounting Standards Board or its successor, or by any other generally accepted authority on such principles. "Governmental Loan" means a loan from the State or the United States of America, acting through any of its agencies, to finance improvements to the Enterprise, and the obligation of the City to make payments to the State or the United States of America under the loan agreement memorializing said loan is on a parity basis with the payment of Installment Payments. "Gross Revenues" means all gross income and revenue received or receivable by the City from the ownership and operation of the Enterprise, calculated in accardance with Generally Accepted Accounting Principles, including all rates, fees and charges (including connection fees) received by the City for Water Service and all other income and revenue howsoever derived by the City from the Enterprise or arising f�om the Enterprise (including transfers from the Rate Stabilization Fund to the Revenue Fund); provided, however, that{i) any specific charges levied for the express purpose of reimbursing others for all or a portion of the cost of the acquisition or construction of specific facilities, or (ii) customers' deposits or any other deposits subject to refund until such deposits have become the property of the City, are not Gross Revenues and are not subject to the lien of the Installment Purchase Contract. Gross Revenues shall also include interest with respect to any Parity Obligations reimbursed to or on behalf of the District by the United States of America. "Indentu�e" means that Indenture, dated as of May 1, 2015, between the Authority and the Trustee, as amended or supplemented from time to time. "Independent Certified Public AccountanY' means any certified public accountant or firm of certified public accountants duly licensed and entitled to practice and practicing as such under the laws of the State of California, appointed and paid by the City, and each of whom- 1. is in fact independent. and not under the control of the City; 2. does nat have a substantial financial interest, direct or indirect, in the operations of the City; and 3. is not connected with the City as a board member, officer or employee of the City, but may be regula�ly retained to audit the accounting records of and make reports thereon to the City. 3