AgdaPkt 2019-05-20 Joint SA PFA - Laserfiche WebLink

Browse Search

8.A. - Page 21 of 73 "Bonds" means any bonds, notes, loans, or other obligations issued or incurred by the Authority in accordance with the Joint Powers Agreement to finance or refinance the Project which are expressly secured by SBSA Bond Payments, but excluding any loan made to the Authority by the State Water Resources Control Board under its revolving loan program." (d) The following definition of "Excluded Principal' is hereby added to Appendix A of the Financing Agreement to become effective immediately as to the calculations with respect to Subordinate Debt set forth in Section 8(d) but shall not become effective as to the calculations with respect to Parity Debt set forth in Section 8(a) and (b) until such date that the SBSA Bond Payments with respect to the following Bonds are paid or prepaid in full: 2009 Wastewater Revenue Bonds, 2014 Wastewater Revenue Bonds, 2015 Wastewater Revenue Bonds and 2018 Wastewater Revenue Bonds: Excluded Principal" means each payment of principal of any obligation for which there is on file with the Authority and each trustee for Parity Debt and Subordinate Debt (i) a certificate of a municipal advisor filed to the effect that such obligation is commercial paper or otherwise of a revolving nature and has a maturity of not more than 60 months and does not require periodic repayment of principal or (ii) a certificate of municipal advisor that the City intends to pay such principal from the proceeds of bonds, notes or other obligations or other moneys other than Net Revenues. No such determination shall affect the security for such obligations or the obligation of the City to pay such obligations from Net Revenues." (e) The definition of "Maximum Annual Debt Service" in Appendix A of the Financing Agreement is hereby amended and restated in its entirety to read as follows to become effective immediately as to the calculations with respect to Subordinate Debt set forth in Section 8(d) but shall not become effective as to the calculations with respect to Parity Debt set forth in Section 8(a) and (b) until such date that the SBSA Bond Payments with respect to the following Bonds are paid or prepaid in full: 2009 Wastewater Revenue Bonds, 2014 Wastewater Revenue Bonds, 2015 Wastewater Revenue Bonds and 2018 Wastewater Revenue Bonds: Maximum Annual Debt Service" means, (a) with respect to Parity Debt, as of the date of any calculation, the largest Annual Debt Service (provided, however, that only the SBSA Bond Payments secured by a first lien on Net Revenues shall be used for such calculation) for the current or any future Fiscal Year; and (b) with respect to Subordinate Debt, as of the date of any calculation, the largest Annual Debt Service (provided, however, that only the SBSA Bond Payments secured by a second lien on Net Revenues shall be used for such calculation) for the current or any future Fiscal Year." (f) The definition of "Operation and Maintenance Costs" in Appendix A of the Financing Agreement is hereby amended and restated in its entirety to read as follows: Operation and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the City for maintaining and operating the Sewer Utility System, determined in accordance with generally accepted accounting principles, including but not limited to (a) all reasonable expenses of management and repair and other expenses necessary to maintain and preserve the Sewer Utility System in good repair and working order, (b) amounts payable from operation and maintenance under the Joint Powers Agreement, and (c) all administrative costs of 0 535