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<br /> 8 <br /> <br />“Independent Accountant” means any certified public accountant, or any <br />firm of certified public accountants, duly licensed to practice and practicing as such under the <br />laws of the State: <br />(a) Who is, in fact, independent and not under the domination of the <br />City; <br />(b) Who does not have any substantial interest, direct or indirect, with <br />the City, and <br />(c) Who is not connected with the City as an officer or employee <br />thereof, but who may be regularly retained to make annual or similar audits of any books <br />or records of the City. <br />“Independent Engineer” means an individual, firm or corporation engaged <br />in the engineering profession of recognized good standing and having specific experience in <br />respect of business and properties of a character similar to those of the System, which individual, <br />firm or corporation has no substantial interest, direct or indirect, in the City and in the case of an <br />individual, is not a member of the Council, or an officer or employee of the City, and in the case <br />of a firm or corporation, does not have a partner, director, officer or employee who is a member <br />of the Council or an officer or employee of the City. <br />“Independent Rate Consultant” means a nationally recognized individual, <br />firm or corporation of independent rate consultants of recognized good standing and having <br />specific experience in respect of business and properties of a character similar to those of the <br />System, which individual, firm or corporation has no substantial interest, direct or indirect, in the <br />City and in the case of an individual, is not a member of the Council, or an officer or employee <br />of the City, and in the case of a firm or corporation, does not have a partner, director, officer or <br />employee who is a member of the Council or an officer or employee of the City. <br />“Maximum Annual Debt Service Requirements” means the maximum <br />aggregate amount of Debt Service Requirements (excluding redemption premiums) due on the <br />securities for which such computation is being made in any Fiscal Year beginning with the Fiscal <br />Year in which Debt Service Requirements of such securities are first payable after the <br />computation date and ending with the Fiscal Year in which the last of the Debt Service <br />Requirements are payable. <br />“Mayor” means the Mayor of the City, or his or her successor in functions. <br />“Mayor Pro Tem” means the Mayor pro tem of the City, or his or her <br />successors in functions. <br />“Net Revenues” means the Gross Revenues remaining after the payment <br />of the Operation and Maintenance Expenses of the System. <br />14