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<br />"Net Revenues" means, for any period, an amount equal to all of the Gross <br />Revenues received during such period minus the amount required to pay all Operation <br />and Maintenance Costs coming payable during such period. <br /> <br />"Operation and Maintenance Costs" means the reasonable and necessary costs <br />paid or incurred by the City for maintaining and operating the Sewer Utility System, <br />determined in accordance with generally accepted accounting principles, including but <br />not limited to (a) all reasonable expenses of management and repair and other <br />expenses necessary to maintain and preserve the Sewer Utility System in good repair <br />and working order, (b) amounts payable for operation and maintenance under the Joint <br />Powers Agreement, and (c) all administrative costs of the City that are charged directly <br />or apportioned to the operation of the Sewer Utility System, such as salaries and wages <br />of employees, overhead, taxes (if any) and insurance premiums. "Operating and <br />Maintenance Costs" does not include (i) payments of debt service on bonds, notes or <br />other obligations issued by the City with respect to the Sewer Utility System, (ii) <br />depreciation, replacement and obsolescence charges or reserves therefor, and (iii) <br />amortization of intangibles or other bookkeeping entries of a similar nature. <br /> <br />"Parity Debt" means any bonds, notes, leases, installment sale agreements or <br />other obligations of the City payable from and secured by a pledge of and lien upon any <br />of the Net Revenues on a parity with the SBSA Bond Payments, entered into or issued <br />under and in accordance with Section 7. <br /> <br />"Parity Debt Documents" means, collectively, the indenture of trust, trust <br />agreement, loan agreement, installment sale agreement or other document authorizing <br />the issuance of any Parity Debt. <br /> <br />"Payment Schedule" means, with respect to a series of Bonds, a schedule <br />prepared by the Authority and filed with the City under Section 3(c) hereof showing the <br />amount and date of each SBSA Bond Payment relating to such series of Bonds, and <br />setting forth the provisions relating to prepayment of such SBSA Bond Payments. <br /> <br />"SBSA Bond Payments" means the amounts paid by the City under this <br />Agreement representing payments of principal of and interest and redemption premium <br />(if any) on an Allocable Share of the Bonds. <br /> <br />"Sewer Utility Fund" means the fund or funds established and held by the City <br />with respect to the Sewer Utility System for the receipt and deposit of Gross Revenues. <br /> <br />"Sewer Utility System" means the entire system of the City for the collection and <br />transmission of wastewater, including but not limited to all facilities, properties and <br />improvements at any time owned, controlled or operated by the City for the collection <br />and transmission of wastewater within the service area of the City, and any necessary <br />lands, rights, entitlements and other property useful in connection therewith, together <br />with all extensions thereof and improvements thereto at any time acquired, constructed <br />or installed by the City. <br /> <br />"Tax Code" means the Internal Revenue Code of 1986 as in effect on the Closing <br />Date or (except as otherwise referenced herein) as it may be amended to apply to <br />obligations issued on the Closing Date, together with applicable proposed, temporary <br />and final regulations promulgated, and applicable official public guidance published, <br />under said Code. <br /> <br />A-2 <br />