Ordinance No. 19551 - Laserfiche WebLink

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1.2.20. "Investment Securities" means any securities which at the time of acquisition are legal investments under the laws of the State of Oregon. 1.2.21. "Net Rent Lease" means a nan~-cancellable lease of property under which the lessee agrees to pay to the City, free and clear of all charges and whether the leased property is capable of being occupied and used by the lessee or not, the following amounts: ~a} fixed rentals in such amounts and at such times as will permit the City to pay all debt service due on all Special Obligation Bonds to be issued to pay the cast of construction or acquisition of the Special Purpase Facility; fib} such further rentals as shall be necessary or required to provide or maintain all reserves required for such Special Purpose Obligations and to pay all trustee's, fiscal agents' and Paying Agents' fees and expenses in connection therewa.th; ~c} an amount equal to a properly allocable share of the administrative costs of the City arising out of such Net Rent Lease and the issuance and servicing of such Special Purpose Obligations; ~d} an amount equal to any and all other costs or charges which the City may be required to pay as a result of construction and operation of the Special Purpase Facility at the Airport ~lnclud~ng, but not limited to, taxes, payments in lieu of taxes, assessments and utility fees}; and fie} the ground rentals described in Section 1.1.1 hereof . 1.2.22. "Net Revenues" means, for any period, the aggregate Revenues minus the aggregate Operation and Maintenance Expenses. 1.2.23. "Official," when used with respect to the City, means the Mayor, City Manager or chief financial officer of the City. 1.2.24. "Operating Account" means the account of that name in the Airport Fund, as described in Section 4.2.2 hereof . 1.2.25. "Operating and Capital Reserve Account" means the account of that name in the Airport Fund, as described in Section 4.2.3.4 hereof. Page b - Ordinance