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NOW, THEREFORE, BE IT RESOLVED by the Governing Body of the Municipality that:
Section 1. Definitions. The following terms shall have the following meanings in this Resolution unless the text expressly or by implication requires otherwise:
"Act" means Section 66.0621 of the Wisconsin Statutes;
"Annual Debt Service Requirement" means the total amount of principal and interest due on the Prior Bonds, the Bonds, the Safe Drinking Water Bonds and any Parity Bonds in any Bond Year;
"Bond Proceeds" means amounts received by the Municipality from the sale of the Bonds;
"Bond Registrar" means Associated Trust Company, National Association, Green Bay, Wisconsin, which is herein appointed by the Governing Body pursuant to the provisions of Section 67.10(2), Wisconsin Statutes, to act as fiscal agent and paying agent for the Bonds;
"Bond Year" means the one-year period ending on a principal payment date for the Bonds;
"Bonds" means $6,135,000 Waterworks System Mortgage Revenue Refunding Bonds of the Municipality dated December 28, 2017, authorized to be issued by this Resolution;
"Code" means the Internal Revenue Code of 1986, as amended;
"Current Expenses" means the reasonable and necessary costs of operating, maintaining, administering and repairing the System, including salaries, wages, costs of materials and supplies, insurance and audits, but shall exclude depreciation, debt service, tax equivalents, replacements and capital expenditures.
"DTC" or "Depository" means The Depository Trust Company, New York, New York or its nominee or successor which shall act as securities depository for the Bonds;
"Fiscal Year" means the twelve month period beginning on January 1 of each year and ending on December 31 of the same year;
"Governing Body" means the Common Council of the Municipality, or such other body as may hereafter be the chief legislative body of the Municipality;
"Gross Revenues" shall include all revenues, income and earnings of the System derived...
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