Reso 2001-330 - Laserfiche WebLink

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Grant Allocation Assessment moneys for making grants to financially disadvantaged small communities pursuant to Section 403.1835 of the Florida Statutes. (7) "Gross Revenues" shall mean stormwater utility fees and all income and earnings received by the Local Government from the ownership or operation of its Stormwater System, including investment income, all as calculated in accordance with generally accepted accounting principles. Gross Revenues shall not include proceeds from the sale or other disposition of any part of the Stormwater System, condemnation awards or proceeds of insurance, except use and occupancy or business interruption insurance, received with respect to the Stormwater System. (8) "Loan" shall mean the amount of money to be loaned pursuant to this Agreement and subsequent amendments. (9) "Loan Application" shall mean the completed form which provides all information required to support obtaining loan financial assistance from the Department. (10) "Loan Debt Service Account" shall mean an account, or a separately identified component of a pooled cash or liquid account, with a Depository established by the Local Government for the purpose of accumulating Monthly Loan Deposits and making Semiannual Loan Payments. (11) "Loan Repayment Reserve Account" or"Loan Repayment Reserve"shall mean the account into which will be deposited the amount set aside to pay temporary and unexpected deficiencies, if any, in the Semiannual Loan Payment. (12) "Loan Service Fee" shall mean an origination fee which shall be paid to the Department by the Local Government. (13) "Monthly Loan Deposit" shall mean the monthly deposit to be made by the Local Government to the Loan Debt Service Account. (14) "Operation and Maintenance Expense" shall mean the costs of operating and maintaining the Stormwater System determined pursuant to generally accepted accounting principles, exclusive of interest on any debt payable from Gross Revenues, depreciation, and any other items not requiring the expenditure of cash. (15) "Pledged Revenues"shall mean the specific revenues pledged as security for repayment of the Loan and shall be the Gross Revenues derived yearly, after payment of the Operation and Maintenance Expense and the satisfaction of all yearly payment obligations on account of any senior obligations issued pursuant to Section 7.02 of this Agreement. (16) "Preconstruction Activities" shall mean the planning, administrative, and engineering work necessary for the Local Government to qualify for Clean Water State Revolving Fund financing for construction of stormwater management devices and facilities. (17) "Project"shall mean the construction of facilities planned and designed through the Preconstruction Activities and financed by an amendment to this Agreement. The Project shall be defined more specifically when the Agreement is amended. (18) "Semiannual Loan Payment" shall mean the payment due from the Local Government to the Department at six-month intervals, and it is comprised of principal, interest, and Grant Allocation 2