Laserfiche WebLink
"Bond Counsel" means any attorney or firm of attorneys having a favorable reputation <br /> for matters relating to tax-exempt financing of properties similar to the Electric System, retained <br /> by the Commission. <br /> "Bondholder" means the Person in whose name a Bond is registered in the Bond <br /> Register. <br /> "Bond Register" means the register maintained by the Registrar pursuant to Section 6.01. <br /> "Bonds" means any Outstanding Series 2018A Bonds, any Outstanding Prior Bonds, and <br /> any Outstanding Additional Bonds. <br /> "City" means the City of Elk River, Minnesota, and any successor to its obligations under <br /> this Resolution. <br /> "Code"means the Internal Revenue Code of 1986, including any amendment thereof. <br /> "Commission" means the Elk River Municipal Utilities Commission, and any successor <br /> to its obligations under this Resolution. <br /> "Commission Resolution" means a resolution or other legislative enactment duly adopted <br /> by the Commission. <br /> "Consultant" means a Person having a favorable reputation as experienced in planning <br /> and financing, and evaluating the economic feasibility, of properties similar to the Electric <br /> System, retained by the Commission. <br /> "Debt Service Account" means the account so designated in the Electric Fund. <br /> "Electric Fund" means the Electric Fund maintained on the official books of account of <br /> the City. <br /> "Electric System" means the municipal electric light and power plant and distribution <br /> system of the City, as it may at any time exist, including any replacement, expansion or <br /> improvement thereof. <br /> "Fiscal Year" means the period commencing on January 1 of any year and ending on <br /> December 31 of the same year, or any other period of twelve consecutive months specified by <br /> Commission Resolution as the fiscal year of the Commission. <br /> "Government Obligations"means direct obligations of, or obligations the principal of and <br /> the interest on which are fully and unconditionally guaranteed by the United States of America. <br /> "Gross Revenues" means all revenues and receipts from rates, fees, charges, and rentals <br /> imposed by the Commission for the availability, benefit, use and products of the Electric System <br /> or any part thereof, and any penalties and interest thereon, and income from the investment <br /> thereof. Gross Revenues do not include amounts received from the sale of property which is part <br /> of the Electric System or amounts borrowed with respect to the Electric System. <br /> 2 <br /> 531773v2 JSB EL185-55 <br />