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<br />PavinlZ AlZent and Registrar AlZreement: the agreement dated as of May 1, 1994, <br />between the City and the Paying Agent and Registrar, concerning payment and registration <br />of the Bonds. <br />Preliminary Official Statement: the Preliminary Official Statement concerning the <br />Bonds and the City. <br />Princioal Sub-Account: a sub-account of the Bond Account created by the provisions <br />of this Ordinance. <br />Rebate Account: a special account of the City designated as the "City of Louisville <br />Sewer Revenue Refunding Bond Rebate Account, 1994", created by the provisions of this <br />Ordinance. <br /> <br />Record Date: the fifteenth (1 5th) day of the calendar month next preceding each <br />interest payment date on the Bonds. <br />Reserve Account: a special account of the City designated as the "City of Louisville <br />Sewer Revenue Bond Reserve Account, 1994", created by the provisions of this Ordinance. <br />Reauired Reserve: an amount equal to the least of (a) 10% of the original proceeds <br />(as determined pursuant to the Code) of the Bonds, (b) 125% of the average annual principal <br />of and interest on the Bonds, or (c) the maximum annual principal and interest requirements <br />on the Bonds which will become due in any Fiscal Year. <br />Series 1989 Bonds: the City's Sewer Revenue Bonds, Series 1989, dated April 1, 1989. <br />originally issued in the principal amount of $2,910,000, and presently outstanding in the <br />principal amount of $2,345,000. <br />Sewer Revenue Fund: the fund of the City designated as the "City of Louisville Sewer <br />Revenue Fund", created by the provisions of this Ordinance. <br />Subordinate Lien Bonds: one or more series of additional bonds, notes, interim <br />securities, or other obligations issued or incurred by the City pursuant to Section 21 hereof <br />having a lien on the Net Revenue which is subordinate or junior to the lien of the Bonds. <br />System: all of the City's sanitary sewer facilities and properties now owned or <br />hereafter acquired, whether situated within or without the City boundaries, including all <br />present or future improvements, extensions, enlargements, betterments, replacements, or <br />additions thereof or thereto. <br /> <br />-9- <br />