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1.2.26. "Operation and Maintenance Expenses" means <br />all expenses accrued by City in accordance with generally <br />accepted accounting principles for airports with similar <br />characteristics of the Airport for the operation, maintenance, <br />administratian,~and ordinary current repairs of the Airport in <br />order to maintain and operate the Airport in a reasonable and <br />prudent manner, ar as lawfully required by federal, state, or <br />local law, rule, or regulation beyond City's control. These <br />expenses shall include, but not be limited to, City Airport <br />employee salaries, wages and fringe benefits, materials and <br />supplies, utilities, professional services and insurance. These <br />expenses shall not include: <br />~a} any cost or expense including indebtedness} <br />incurred by City in connection with a Special Purpose <br />Facility; <br />(b} any amortization or depreciation charge for <br />Airport facilities or structures; <br />~c} any charge representing or intended to be a <br />return on any Airport capital investment; <br />~d} any charge, payment, or cost including <br />principal, interest, or coverage required in connection <br />therewith} for purchasing, constructing, modifying, <br />repairing, or improving Airport capital equipment, <br />facilities, ar real estate, except to the extent that such <br />charge, payment, or cost should be considered as an operating <br />expense has opposed to a capital expense} under generally <br />accepted accounting principles; and <br />fie} any payment, credit or refund of fees and <br />charges to a user of the Airport from Revenues which, in any <br />fiscal year, exceed the sum for that fiscal year of Operation <br />and Maintenance Expenses, the Debt Service Requirement on all <br />Outstanding Bonds, and required deposits into the Operating <br />and Capital Reserve Account. <br />1.2.27. "Ordinance" means this Ordinance, as the <br />same may be amended and supplemented from time to time, and <br />unless the context clearly indicates otherwise, includes all <br />Supplemental Ordinances. <br />1.2.28. "Outstanding"'when used with respect to any <br />Bond shall have the construction given to such ward in Section <br />11.1 hereof; i.e., a Bond shall not be outstanding hereunder if <br />such Bond is at the time not deemed to be Outstanding hereunder <br />by reason of the operation and. effect of said Section 11,1. <br />Page 7 - Ordinance <br />