Ordinance No. 19551 - Laserfiche WebLink

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~d} in the fiscal year in which a credit is made, the amount of any credit of fees and charges to a user of the Airport from Revenues which, in any fiscal year, exceed the sum for that fiscal year of operation and Maintenance Expenses, the Debt Service Requirement on all outstanding Bonds, and required deposits into the operating and Capital Reserve Account. However, the term "Revenues" shall not include: moneys received as proceeds from the sale of Bonds or as grants or gifts, the use of which is limited by the grantor or donor to the construction of capital improvements except to the extent that any moneys shall be received as payments for the use of the Airport}; and, payments made under a Net Rent Lease except ground rentals described in Section 10.1.1 hereof}. In no event shall the term "Revenues" include tax revenues, tax-derived revenues or state- shared revenues. Revenues shall not be reduced by any payment credit or refund of fees and charges to a user of the Air ort P from Revenues which, in any fiscal year, exceed the sum fvr that fiscal year of operation and Maintenance Expenses, the Debt Service Requirement on all Outstanding Bonds, and required deposits into the operating and Capital Reserve Account. 1.2,35. "Series 1988 Bonds' means the Bonds authorised by Section 3.1 hereof. 1.2.37. "Series 1988 Credit Agreement" means the Reserve Equivalent for the Series 1988 Bonds which is in effect when the Series 1988 Bonds are issued. 1.2.38. "Series 1988 Municipal Bond Insurance Policy" means the municipal bond insurance policy issued by BIG simultaneously with the delivery of the Series 1988 Bonds, insuring the payment when due of the principal of and interest on all or any of the Bonds in accordance with the terms thereof. 1.2.39. "Series 1988 Note" means the note issued in connection with the Series 1988 Credit Agreement. 1.2.40, "Series 1988 Reserve Equivalent" means the Series 1985 Credit Agreement and the Series 1988 Note. . 1.2.41. "Short-Term/Demand obligations" means each series of bands, notes and other obligations: ~a} the payment of principal of .which is either: ~i} payable on demand by or at the option of the owner at a time sooner than a date on which such principal is deemed to be payable for purposes of computing Debt Service Requirements, or Page 13 - Ordinance