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City of San Leandro
<br /> Agreement No.: 11- 806 -550
<br /> Project No.: C -06- 7002 -110
<br /> Net Revenues" means, for any Fiscal Year, so long as there may be outstanding System Obligations
<br /> other than the Obligation, as such term is defined under the authorizing instruments for such System
<br /> Obligations, and thereafter all Revenues received by the Recipient less the Operations and
<br /> Maintenance Costs for such Fiscal Year.
<br /> "Obligation" means the obligation of the Recipient to make Installment Payments and Additional
<br /> Payments as provided herein, as evidenced by the execution of this Agreement, proceeds of such
<br /> • obligations being used to fund the Project as specified in the Project Description attached hereto as
<br /> Exhibit A and in the documents thereby incorporated by reference.
<br /> "Operations and Maintenance Costs" means, so long as outstanding System Obligations other than
<br /> the Obligation are outstanding, the definition of such term as defined therein, and thereafter, the
<br /> reasonable and necessary costs paid or incurred by the Recipient for maintaining and operating the
<br /> System, determined in accordance with generally accepted accounting principles, including all
<br /> reasonable expenses of management and repair and all other expenses necessary to maintain and
<br /> preserve the System in good repair and working order, and including all reasonable and necessary
<br /> administrative costs of the Recipient that are charged directly or apportioned to the operation of the
<br /> System, such as salaries and wages of employees, overhead, taxes (if any), the cost of permits,
<br /> licenses and charges to operate the System and insurance premiums; but excluding, in all cases
<br /> depreciation, replacement and obsolescence charges or reserves therefor and amortization of
<br /> intangibles.
<br /> "Policy" means the State Water Board's "Policy for Implementing the State Revolving Fund for
<br /> Construction of Wastewater Treatment Facilities," as most recently amended, the State Water
<br /> Board's "Strategy for Implementing State Revolving Fund for Expanded Use Projects ", as
<br /> appropriate, and Board Resolution 2009 -0027.
<br /> "Project" means the Project as described in Exhibit A and in the documents thereby incorporated by
<br /> reference.
<br /> "Project Completion" for the purposes of a wastewater or water recycling project, means the date, as
<br /> determined by the Division after consultation with the Recipient, that operation of the Project is
<br /> initiated or is capable of being initiated, whichever comes first. For the purposes of all other projects,
<br /> "Project Completion" means the date that all tasks in Exhibit A are completed to the reasonable
<br /> satisfaction of the Division. This date shall be synonymous with the date specified in the "Initiation of
<br /> Operation" form submitted as part of the Approval of Award package, if any.
<br /> "Project Costs" means the incurred costs of the Recipient which are eligible for financial assistance
<br /> from the CWSRF under the federal Clean Water Act, which are allowable costs as defined under the
<br /> Policy and which are reasonable, necessary and allocable by the Recipient to the Project under
<br /> generally accepted accounting principles, plus capitalized interest. For the purposes of all other
<br /> projects, "Project Costs" means those costs incurred by the Recipient for the planning, design, and
<br /> implementation of the project as set forth in Exhibit A; this includes any monitoring, reporting,
<br /> education and outreach, or direct administrative costs associated with these tasks and deemed
<br /> necessary by the Division.
<br /> "Project Funds" means funds disbursed by the State Water Board to the Recipient for purposes of
<br /> this Agreement.
<br /> "Recipient" means the recipient of Project Funds, as identified on the front page of this Agreement.
<br /> "Revenues" means, for each Fiscal Year, all gross income and revenue received or receivable by the
<br /> Recipient from the ownership or operation of the System, determined in accordance with generally
<br /> accepted accounting principles, including all rates, fees and charges (including connection fees and
<br /> charges) as received by the Recipient for the services of the System, and all other income and
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<br /> 910 ® ,0:110
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