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<br />development of the System; costs associated with tools, equipment, vehicles, supplies, materials, <br />services and support for the operation, maintenance, management, security and development of the <br />System; any costs of litigation or a legal judgment against the Issuer; costs relating to water <br />conservation and public education activities; costs of purchasing any water; development expenses <br />relating to expansion of the System; accounting, legal and engineering expenses; ordinary and <br />current rentals of equipment or other property; refunds of moneys lawfully due to others; pension, <br />retirement, health and hospitalization funds; payments in lieu of taxes and facility impact fees; and <br />fees for management of the System or any portion thereof; but does not include any costs or expenses <br />in respect of original construction or improvement other than expenditures necessary to prevent an <br />interruption or continuance of an interruption of service or of Gross Revenues or minor capital <br />expenditures necessary for the proper and economical operation or maintenance of the System, or <br />any provision for interest, depreciation, amortization or similar charges. Operating Expenses shall <br />include all payments to the South Seminole and North Orange County Wastewater Transmission <br />Authority. <br /> <br />"Operation, Maintenance and Administrative Fund" shall mean the fund created <br />pursuant to Section 4.04(D) hereof. <br /> <br />"Outstanding," when used with reference to Bonds and as of any particular date, shall <br />describe all Bonds theretofore and thereupon being authenticated and delivered except, (I) any Bond <br />in lieu of which other Bond or Bonds have been issued under agreement to replace lost, mutilated <br />or destroyed Bonds, (2) any Bond surrendered by the Holder thereof in exchange for other Bond or <br />Bonds under Sections 2.06 and 2.08 hereof, (3) Bonds deemed to have been paid pursuant to Section <br />9.01 hereof and (4) Bonds canceled after purchase in the open market or because of payment at or <br />redemption prior to maturity. <br /> <br />"Paying Agent" shall mean any paying agent for Bonds appointed by or pursuant to <br />Supplemental Resolution and its successor or assigns, and any other Person which may at any time <br />be substituted in its place pursuant to Supplemental Resolution. <br /> <br />"Person" shall mean an individual, a corporation, a partnership, an association, ajoint stock <br />company, a trust, any unincorporated organization, governmental entity or other legal entity. <br /> <br />"Pledged Funds" shall mean, (1) the Net Revenues and (2) until applied in accordance with <br />the provisions of this Resolution, all moneys, including investments thereof, in the funds and <br />accounts established hereunder, except (A) amounts in the Rebate Fund, (B) moneys in any fund or <br />account to the extent such moneys shall be required to pay the Operating Expenses of the System in <br />accordance with the terms hereof, and (C) moneys on deposit in a subaccount of the Reserve <br />Account to the extent moneys on deposit therein shall be pledged solely for the payment of the Series <br />of Bonds for which it was established in accordance with the provisions hereof. <br /> <br />"Prerefunded Obligations" shall mean any bonds or other obligations of any state of the <br />United States of America or of any agency, instrumentality or local governmental unit of any such <br /> <br />9 <br />