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3. is not connected with the City as a board member, officer or employee of the City, <br /> but may be regularly retained to audit the accounting records of and make reports <br /> thereon to the City. <br /> "Independent Engineer" means any registered engineer or firm of engineers of <br /> national reputation generally recognized to be well qualified in engineering matters relating to <br /> systems similar to the Enterprise, appointed and paid by the City, and who or each of whom-- <br /> 1. is in fact independent and not under the control of the City; <br /> 2. does not have a substantial financial interest,direct or indirect, in the City;and <br /> 3. is not connected with the City as a council member, officer or employee of the <br /> City, but may be regularly retained to make reports to the City. <br /> "Independent Financial ConsultanY' means any financial consultant or firm of <br /> such consultants of national reputation generally recognized to be well qualified in financial <br /> matters relating to systems similar to the Enterprise, appointed and paid by the City, and who, or <br /> each of whom-- <br /> 1. is in fact independent and not under the control of the City; <br /> 2. does not have a substaritial financial interest, direct or indirect, in the City; and <br /> 3. is not connected with the City as a council member, officer or employee of the <br /> City,but may be regularly retained to make reports to the City. <br /> "Installment Payment Date" means the date three (3) Business Days prior to each <br /> August 1 and February 1,commencing July 29,2013. <br /> "Installment Payments" means the installment payments of principal and interest <br /> scheduled to be paid by the City hereunder, plus amounts required to be paid hereunder to <br /> replenish the Reserve Fund. <br /> "Insurance Consultant" means any nationally recognized independent actuary, <br /> insurance company or broker who has actuarial personnel knowledgeable with respect to <br /> insurance carried by,required for and available to municipalities operating facilities similar to the <br /> Enterprise, including a pooled self-insurance program in which premiums are established on the <br /> basis of the recommendatian of an actuary of national reputation. <br /> "Interest Payment Date" means August 1, 2013 and each February 1 and August 1 <br /> thereafter. <br /> "Maintenance and Operation Costs" of the Enterprise means the reasonable and <br /> necessary costs and expenses paid by the City (excluding Installment Payments or other <br /> payments in the nature of debt service on obligations secured by Net Revenues) for maintaining <br /> 4 <br /> 338529_1.DOC <br />