Resolution No. 4624 - Laserfiche WebLink

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"DTC" means The Depository Trust Company or any other qualified securities depository designated by the City as its successor. "Event of Default" means any event specified in Section 9.2. "Fiscal Year" means the period beginning on July 1 of each year and ending on the next succeeding June 30, or as otherwise defined by State law. "Gross Revenues" means all fees, charges, and other revenues resulting from the operation of the Airport which are received after the date of this Master Resolution, including interest earnings on Gross Revenues in the Municipal Airport Fund, except the following: (A) the interest income or other earnings derived from the investment of any escrow fund established for the defeasance or refunding of outstanding indebtedness of the City; (B) moneys received by the City from any State or Federal Agency or other person if such moneys are restricted by law or the grantor to uses inconsistent with the payment of Bonds; (C) the proceeds of any borrowing; (D) the proceeds of any liability, casualty or other insurance (except business interruption insurance or other insurance oflike nature insuring against the loss of revenues); (E) the proceeds derived from the sales of assets pursuant to Section 8.8; (F) any ad valorem, income, sales or similar taxes imposed by the City; (G) passenger facilities charges and interest on passenger facilities charges; and (H) any Separate Facility Payments. "Interest Payment Date" means any date on which Bond interest is due. "Interim Obligation Rate" means the most recently published Bond Buyer Revenue Bond Index Rate published in the Daily Bond Buyer, or, if that index rate ceases to be available, a reasonably comparable index rate selected by the City. "Interim Obligations" means any Parity Obligations which mature within three years or less after they are issued, and which are designated as "Interim Obligations" in the authorizing documents of the City. "Master Resolution" means this resolution authorizing the issuance of airport revenue bonds. "Maximum Annual Debt Service" means the greatest Annual Debt Service, calculated on all Bonds which are Outstanding on the date of calculation. "Municipal Airport Fund" means the collection of funds and accounts used by the City to hold the Gross Revenues. "Net Revenues" means the Gross Revenues less the Operating Expenses. "Operating Expenses" means all costs which are properly treated as expenses of operating and maintaining the Airport, including (but not limited to) overhead transfers and franchise fees. However, Operating Expenses do not include: (A) any rebates or penalties paid from Gross Revenues under Section 148 of the Code; Page 3 - Resolution March 23, 2000