§ 12-95. Definitions.

As used in this article, the following words and terms shall have the following meanings, unless some other meaning is plainly intended:

Board means the board of county commissioners of the county.

Bonds means the obligations, including bond anticipation notes if required, issued by the County under the provisions of this article to pay the cost of a project or a combination of one or more projects and payable from the revenues derived from the operation of the project, if any, or from any non-ad valorem funds, or any one or combination thereof.

Cost of a project means the costs incurred by the county in the acquisition, construction, modification, improvement, operation, maintenance and repair of a project or combination of one or more projects, including, without limitation, the following costs: the cost of the items described in the plans and specifications for the project; the cost of any lands or interest therein or any other properties deemed necessary or convenient therefor; architectural, engineering, legal and financing expenses; expenses for estimates of costs and of revenues; expenses for plans, specifications and surveys; fees of fiscal agents, financial advisors or consultants; administrative expenses relating solely to the construction of the project; interest upon the bonds during construction of the project, if any, in such amounts as shall be determined by a duly authorized representative of the county or by resolution of the county adopted prior to the delivery of the bonds; the creation and establishment of reserves for debt service on the bonds; municipal bond insurance premiums, if any, or other costs of liquidity or credit facilities; principal of and interest on bond anticipation notes, the proceeds of which were used to pay all or a portion of the cost of the project; reimbursements to the county of funds advanced before the issuance of the bonds or bond anticipation notes to pay a portion of the cost of the project; and such other costs and expenses as may be necessary or incidental to the financing herein authorized and to the acquisition, construction, modification, improvement, operation, maintenance and repair of the project and the placing of same in operation.

County means Polk County, Florida.

Expansion projects means projects or portions thereof for the oversizing, separating, expanding or constructing of new additions to the system, all of which are designed to expand its capacity.

Expansion project percentage means a fraction, the numerator of which shall be the total principal amount of bonds originally issued hereunder (including all parity bonds and without taking into account any repayments of principal) (the "original issue amount") that have been allocated to expansion projects by certificate of a qualified independent consultant at the time of issuance of such bonds and the denominator is the original issue amount for all bonds issued hereunder. If impact fees are used to redeem bonds in advance of their scheduled maturity or in excess of the sinking fund deposits due on the bonds in such bond year, the numerator of the fraction described above shall thereafter be reduced by the principal amount of bonds so redeemed.

Gross revenues means all income or earnings including, to the extent legally available and permissible, all impact fees, to be pledged for all or part of an expansion project, derived by the county from the ownership, operation, leasing or use of the system or any part thereof, any income from the investment of funds to be deposited into the revenue or sinking fund created for the bonds or any of the accounts therein and proceeds from the insurance, condemnation or the disposition of property, but shall not include proceeds from the sale of any bonds or other obligations of the issuer.

Impact fees means all nonrefundable (except at the option of the county) capital expansion fees, system improvement fees or other similar fees and charges separately imposed by the county as a nonuser capacity charge for the proportionate share of the cost of expanding, oversizing, separating or constructing new additions to the system, but only to the extent that they are permitted to be used under applicable law to pay debt service on one or more series of bonds issued hereunder, and any income from the investment of funds derived from impact fees and deposited into the revenue sinking fund created for the bonds.

Non-ad valorem funds means any revenues or funds of the county legally available to be pledged for the payment of principal and interest on bonds, designated by resolution of the county, including, without limitation, gross revenues, occupational license revenues and impact fees, but specifically excluding funds derived by the county from ad valorem taxation and proceeds from prior, current and future bond issues and interest earned thereon.

Project means the acquisition, equipping and construction of additions, extensions and improvements to various components of the system, all as described from time to time by ordinance or resolution of the county.

Qualified independent consultant means any one or more qualified and recognized independent consultants, having favorable repute, skill and experience with respect to the acts and duties required of a qualified independent consultant by a particular section or one or more sections hereof, as shall from time to time be retained by the county for the purposes thereof.

System means the entire potable water production, treatment and distribution system and waste water collection, treatment, reuse and disposal system and all parts and components thereof or interests therein owned, operated or used by the county and all such parts and components hereafter constructed, contracted for or acquired. The improvements, extensions and additions thereto to be constructed or acquired from either the proceeds of the bonds or from other sources, together with all land and interest therein, plants, buildings, machinery, franchises, pipes, fixtures, equipment, contract rights and all property, real or personal, tangible or intangible, now or hereafter owned, operated or used by the county in connection therewith.

(Ord. No. 85-34, § 1, 12-17-84)