06-08-09 Common Council Meeting Agenda & Packet

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personnel management, records, reporting, laboratory control, process control, safety and ~ emergency operation planning and operating activities. (2) Maintenance shall mean the preservation of the functional integrity and efficiency of equipment and structures by implementing and maintaining systems of preventive and corrective maintenance, including replacements. "Plans and Snecifacations" shall mean the detailed written descriptions of the work to be done in undertaking and completing the Project, including the written descriptions of the work to be performed and the drawings, cross-sections, profiles and the like which show the location, dimensions and details of the work to be performed. "Preliminary Engineering Report" shall mean the information submitted by the Participant that is necessary for the Finance Authority (or if submitted to the Department prior to May 15, 2005, then the Department in its role as predecessor to the Finance Authority in certain matters related to the Drinking Water SRF Program) to determine the technical, economic and environmental adequacy of the proposed Project. "Project" shall mean the activities or tasks identified and described in Exhibit A to this Agreement, and incorporated herein, as amended or supplemented by the Participant and consented to by the Finance Authority, for which the Participant may expend the Loan. "Purchase Account" shall mean the account by that name created by the Drinking Water SRF Indenture and held as part of the Drinking Water SRF Fund. "Reamortization Methodology" shall mean a change in principal maturities of the Bonds by use of the following methodology caused by the Project being Substantially Complete with a portion of the Loan (including any amounts held in the Construction Fund) not being subject to disbursement to pay further Project costs, whether such is effected by means of a Loan Reduction Payment or a reduction in the maximum Loan amount available under this Agreement as determined by the Finance Authority: (1) as between the 2009 Bonds and the 2009 BAN, shall be reduced in the same proportion as would have had been applied to such Loan, had the Loan been first allocated under the SRF Policy Guidelines on the date of this Agreement in the aggregate amount finally drawn; and (2) the principal maturities of the 2009 Bonds shall be modified in such amounts and with such maturities as achieves as level annual debt service for such 2009 Bonds as practicable during each annual period (commencing in the first full bond year after application of this methodology and ending no later than the date of the final maturity of the 2009 Bonds as originally scheduled); provided that (a) this methodology is agreed to be consistent with the methodology prescribed in the Authorizing Instrument and as originally applied to the Bonds and (b) any principal payment on the 2009 Bonds due and payable prior to application of this methodology shall not be affected 6