RES 94045A - Laserfiche WebLink

"Fiscal Year" means the twelve calendar month period terminating on June 30 of each year, or any other annual accounting period hereafter selected and designated by the City as its Fiscal Year in accordance with applicable law, "Generally Accepted Accounting Principles" means the uniform accounting and reporting procedures prescribed by the California Stale Controller or his successor for municipal corporations in the State of California, or failing the prescription of such procedures means generally accepted accounting principles as presented and recommended by the American Institute of Certified Public Accountants or its successor, or by the National Council on Governmental Accounting or its successor, or by any other generally accepted authority on such principles. "Installment Payment Date" means the date five (5) Business Days preceding each Interest Payment Date.. "Installment Payments" means the installment payments of principal and interest scheduled to be paid by the City under the Installment Purchase Contracts plus amounts required to be paid by the City hereunder and pursuant to the Installment Purchase Contract, including, without limitation, amounts necessary to replenish the Reserve Fund. "Installment Purchase Contracts" means those two certain Installment Purchase Contracts by and between the City and the Authority, each dated as of May 1, 1994 as originally executed and as it may from time to time be amended or supplemented in accordance herewith and therewith, payments under which are pledged to secure the Bonds. "Interest Payment Date" means November 1, 1994 and each May 1 and November 1 [hereafter; provided, however, if such date is no[ a Business Day, interest Payment Date means the next succeeding Business Day. "Maintenance and Operation Costs of [he Enterprise" means, with respect to each Enterprise defined in the applicable Installment Purchase Contract, the reasonable and necessary costs spent or incurred by the City for maintaining and operating such Enterprise, calculated in accordance with Generally Accepted Accounting Principles, including all reasonable and necessary expenses of management and repair and other expenses necessary to maintain and preserve such Enterprise in good repair and working order, and including all reasonable and necessary administrative costs of the City attributable to such Enterprise and to the applicable Installment Purchase Contract, Bonds, Parity Bonds and Contracts, such as salaries and wages of employees, overhead, insurance, taxes (if any), expenses, reasonable compensation and indemnification of fiscal agents, paying agents and trustees with respect [o the foregoing and fees of auditors, accountants, attorneys or engineers, and including all other reasonable and necessary costs of the City or charges required to be paid by it to comply with the terms hereof and the Bonds, Parity Bonds and Contracts and all applicable federal, state and local requirements pertaining to the operation of the Enterprise, but excluding depreciation, replacement and obsolescence charges or reserves therefor and amortization of intangible or other bookkeeping entries of a similar nature. "Moody's" means Moady's Investors Service, Inc., its successors and assigns. vaw~oizur