Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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_ _ Year, capital expenditures other than as set forth in subsection (a) above, and (z) amortization of intangibles or other bookkeeping entries or a similar nature. "Maximum Annual Debt Service" means, as of the date of any calculation, the maximum sum obtained for the current or any future Bond Year so long as any of the Bonds remain Outstanding by totaling the following amounts for such Bond Year: (a) the principal amount of the Bonds and Parity Obligations coming due and payable by their terms in such Bond Year, including the principal amount of any term Bonds and term Parity Obligations which are subject to mandatory sinking fund redemption in such Bond Year; and (b) the amount of interest which would be due during such Bond Year on the aggregate principal amount of the Bonds and Parity Obligations which would be Outstanding in such Bond Year if such Bonds and Pariry Obligations are retired as scheduled. "Net Proceeds" means, when used with respect to any insu�ance or condemnation award, the proceeds from such insurance or condemnation award remaining after payment of all reasonable expenses (including attorneys' fees) incur�ed in the collection of such proceeds. "Net Revenues" means, far any period, all of the Gross Revenues during such period less all of the Maintenance and Operation Costs during such period. "Outstanding" shall have the same meaning set as forth in the Indenture. - "Parity Obligations" means the 2013 Installment Purchase Contract, the 2007 Installment Purchase Contract and all bonds, notes, loan agreements, installment sale agreements, leases or other obligations of the City, payable from and secured by a pledge of and lien upon any of the Net Revenues incurred on a parity with the payment of the Installment Payments pursuant to Section 4.03. "ProjecY' means the capital facilities described under in Exhibit A hereto. "Rate Stabilization Fund" means the Rate Stabilization Fund of the City. "Reserve Requirement"shall have the meaning provided in the Indenture. "Revenue Fund" means the °Water Utility Fund" currently maintained by the City, or such other fund of the City into which it deposits Gross Revenues. "Series 2015 Bonds" has the meaning set forth in the Indenture. "Trustee" means U.S. Bank National Association, or such other Trustee designated pursuant to the Indenture. "2006 Installment Purchase ContracY' means the Installment Purchase Contract, dated as of February 1, 2006, between the City and the Authority. "2007 Installment Purchase Contract" means the Installment Purchase Contract, dated as of May 1, 2007, between the City and the Authority. 5