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"Eligible Cost" shall mean and include, whether incurred before or after the date of <br />this Agreement, all costs which have been incurred and qualify for Financial Assistance, <br />including engineering, financing and legal costs related thereto. <br />"Financial Assistance" shall mean the financial assistance authorized by the Safe <br />Drinking Water Act, including the Loan. <br />"Loan" shall mean the purchase of the Bonds by the State to finance the planning, <br />designing, constructing, renovating, improving and expanding of the Qualified Entity's <br />Drinking Water System or refinance an existing debt obligation where such debt was incurred <br />and building of such systems began after July 1, 1993, but does not mean the provision of <br />other Financial Assistance. <br />"Operation and Maintenance" shall mean the activities required to assure the <br />continuing dependable and economic function of the Drinking Water System, including <br />maintaining compliance with primary and secondary drinking water standards, as follows: <br />(1) Operation shall mean the control and management of the unit processes <br />and equipment which make up the Drinking Water System, including financial and <br />personnel management, records, reporting, laboratory control, process control, safety <br />and emergency operation planning and operating activities. <br />(2) Maintenance shall mean the preservation of the functional integrity and <br />efficiency of equipment and structures by implementing systems of preventive and <br />corrective maintenance. <br />"Plans and Specifications" shall mean the detailed written descriptions of the work to <br />be done in undertaking and completing the Project, including the written descriptions of the <br />work to be performed and the drawings, cross-sections, profiles and the like which show the <br />location, dimensions and details of the work to be performed. <br />"Preliminary Engineering Report" shall mean the information submitted by the <br />Qualified Entity that is necessary for the Department to determine the technical, economic and <br />environmental adequacy of the proposed Project. <br />"Project" shall mean the activities or tasks identified and described in Exhibit B to this <br />Agreement, as amended or supplemented by the Qualified Entity and consented to by the State, <br />for which the Qualified Entity may expend the Loan. <br />"Purchase Account" shall mean the account by that name created by the Drinking <br />Water SRF Indenture and held as part of the Drinking Water SRF Fund. <br />430543 [l <br />