Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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"independent Engineer' means any registered engineer or firm of engineers of national reputation generally recognized to be well qualified in engineering matters relating to systems similar to the Enterprise, appointed and paid by the Ciry, and who or each of whom-- 1. is in fact independent and not under the control of the City; 2. does not have a substantial financial interest, direct or indirect, in the City; and 3. is not connected with the City as a council member, o�cer or employee of the City, but may be regula�ly retained to make reports to the City. "Independent Municipal Finance Consultant" means any municipal finance consultant or firm of such consultants of national reputation registered with the Municipal Securities Rulemaking Board and the Securities and Exchange Commission generally recognized to be well qualified in financial matters relating to systems similar to the Enterprise, appointed and �- paid by the City, and who, or each of wham- 1. is in fact independent and not under the control of the City; 2. does not have a substantial financial interest, direct or indirect, in the Ciry; and 3. is not connected with the City as a council member, officer or employee of the City, but may be regularly retained to make reports to the City. "Installment Payment Date° means the date three (3) Business Days prior to each August 1 and February 1, commencing July 29, 2015. "Installment Payments° means the installment paymerits of principal and interest scheduled to be paid by the City hereunder, plus amounts required to be paid hereunder to replenish the Reserve Fund. "Insurance ConsultanY' means any nationally recognized independent actuary, insurance company or broker who has actuarial personnel 'knowledgeable with respect to insurance carried by, required for and available to municipalities operating facilities similar to the Enterprise, including a pooled self-insurance program in which premiums are established on the basis of the recommendation of an actuary of national reputation. "Interest Payment Date" means August 1, 2015 and each February 1 and August 1 thereafter. "Maintenance and Operation Costs" of the Enterprise means the reasonable and necessary costs and expenses paid by the City (excluding Installment Payments or other payments in the natu�e of debt service on obligations secured by Net Revenues) for maintaining and operating the Enterprise, as determined in accordance with Generally Accepted Accounting Principles, including but not limited to (a) the reasonable expenses of management and repair and other costs and expenses necessary to maintain and preserve the Enterprise in good repair and working order, (b) the cost of wholesale water purchases from the San Francisco Public Utilities Commission and any surcharges related thereto, and (c) administrative costs of the City attributable to the Enterprise and the financing thereof; Maintenance and Operation Costs exclude (x) depreciation, replacement and obsolescence charges or reserves therefor, (y) in any Fiscal Year prior to setting aside an amount equal to the Installment Payments for such Fiscal 4