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(d) "Outstanding Bonds" or "Outstanding Revenue Bonds"
shall mean the "City of Georgetown Utility System Revenue
Bonds, Series 1966", dated June 1, 1966, "City of Georgetown
Utility System Revenue Bonds, Series 1970", dated April 1,
1970 "City of Georgetown, Texas, Utility System Revenue
Bonds, Series 1971", dated March 1, 1971, and "City of
Georgetown Utility System Revenue Bonds, Series 1974", dated
October 15, 1974.
(e) "Parity Bonds" shall mean collectively the Bonds
and the Outstanding Bonds.
(f) "Additional Bonds" shall mean the addition parity
revenue bonds permitted to be issued under the provisions of
the ordinances authorizing the Parity Bonds.
(g) "Utility System" shall mean the System created and
established for and on behalf of the City under the provisions
of the ordinances authorizing the Outstanding Bonds.
(h) "Net Revenues" and "Pledged Revenues" shall mean
the ,revenues derived from the operation of the Utility
System as such revenues are defined and pledged in Section 9
of this Ordinance.
(i) "Utility System Revenue Fund", "Utility System
Revenue Bonds Interest and Sinking Fund", "Utility System
Revenue Bonds Reserve Fund", and "Utility System Contingency
Fund", shall mean the special funds which the City Council
has heretofore created and ordered to be established and
-maintained for the payment of expenses of operating and
maintaining the Utility System and costs of certain repairs
or replacements to said System and for the payment of princi-
pal of and interest on bonds outstanding against the Utility
System, as hereinafter more specifically stated.
Section 8. UTILITY SYSTEM. That the Utility System
(hereinafter sometimes called the "System"), as created and
established by the City Council, is comprised of the entire
waterworks system, the entire sewer system, and the entire
electric light system now owned and operated by the City of
Georgetown, Texas, together with all improvements, extensions
and additions thereto which may be made while any Parity
Bonds or Additional Bonds remain outstanding against the
System. Such Utility System shall be operated on the basis
of a fiscal year commencing on September 1st of each year
and ending on August 31st of the following year.
Section 9. PLEDGE OF REVENUES. (a) The Bonds herein
authorized and the Outstanding Revenue Bonds shall be equally
and ratably secured by and payable from an irrevocable first
lien on and pledge of the income and revenues derived and to
be derived from the operation of the System, after deduction
therefrom of the amount necessary to pay all operating,
maintenance, replacement and betterment charges of the
System, as is required by Article 1113, of the Revised Civil
Statutes of Texas, 1925, as amended, and by other applicable
Statutes of the State of Texas, and the following sections
of this ordinance are cumulative of and supplemental to the
pertinent provisions of the ordinances authorizing the
Outstanding Revenue Bonds.
(b) The Bonds are being issued as additional parity
revenue bonds as defined as "Additional Bonds" in the ordi-
nance passed by the City on March 9, 1964 authorizing the
issuance, sale and delivery of the City's Utility System
Revenue Bonds, Series 1964, and as defined as "Additional
Bonds" in the ordinance passed by the City on October 31,
1974 authorizing the issuance, sale and delivery of the
City's Utility System Revenue Bonds, Series 1974.