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<br /> such issues are outstanding~provided"that such computation shall <br /> assume the redemption and payment of bonds or other obligations <br /> subject to mandatory redemption, but shall be made without regard <br /> to optional redemption. <br /> Consulting Engineer: any qualified, registered, or <br /> licensed professional engineer practicing under the laws of the <br /> state of Colorado, who is independent in fact and not an officer <br /> or employee of the City. <br /> Council: the City Council of the City. <br /> C.R.S.: the Colorado Revised statutes, as amended and <br /> supplemented as of the date hereof. <br /> Escrow Account: a special fund and separate trust <br /> account created by the provisions of this Ordinance and <br /> designated as the "City of Louisville Sewer Revenue Bond Refunding <br /> Escrow Account, 1989", to be established and maintained at the <br /> Bank. <br /> Escrow Agreement: the agreement between the City and <br /> the Bank dated as of April 1, 1989, concerning the establishment <br /> and maintenance of the Escrow Account. <br /> Escrow Supplement: an amount not to exceed $1.104,000 <br /> being legally available moneys of the City, which shall be <br /> deposited to the Escrow Account and used to supplement the <br /> proceeds of the Bonds. <br /> Event of Default: any one or more of the events set <br /> forth in Section 22 of this Ordinance. <br /> Federal Securities: direct obligations of, or <br /> obligations the timely payment of the principal of and interest on <br /> which are unconditionally guaranteed by, the United States of <br /> America. <br /> Fiscal Year: the twelve (12) months commencing <br /> January 1 of any year and ending December 31 of said year. <br /> Gross Revenue: all income and revenues directly or <br /> indirectly derived by the City from the operation and use of the <br /> System, or any part thereof, including without limitation, any <br /> - 56 - <br />