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<br />e <br /> <br />e <br /> <br />". <br /> <br />";i <br /> <br />"Houston" shall mean the City of Houston, Texas. <br /> <br />"Houston coritiact" shall mea~ the contract effective <br />as of December 4, 1987, pursuant to which the Authority has <br />agreed to purchase an undivided interest in the Southeast <br />Plant and has ag~~ed to purchase' potable treated surface <br />water from the Southeast '.P1ant~ .:'.' _. ..... <br /> <br />"Initial Bond (s) II shall mean the Bonds numbered <br />from T-l through T-25 as provided for in Section 2.02. <br /> <br />"La Porte" shall mean the City of La Porte, Texas. <br /> <br />"MGD" shall mean million gallons per day. As used <br />in this Resolution, "MGD" shall refer to a quantity of water <br />during a period of time expressed for convenience in terms <br />of an average daily quantity during a calendar month (unless <br />a different period of time is specified). <br /> <br />. "Net Revenues" shall mean all Revenues received by <br />the Authority less,the Operating and Maintenance Expenses of <br />the Authority. '. <br /> <br />"Operating and Maintenance Expenses" shall mean <br />all costs incurred by the Authority in providing potable <br />water to the Participants under the Water Sales Contracts <br />(except for amounts funded by the proceeds of Bonds or <br />Additional Bonds, debt service on such Bonds or Additional <br />Bonds and amounts required to fund the Reserve Fund, the <br />Contingency Fund and the Rebate Fund), including all operation <br />and maintenance costs billed to the Authority by Houston, <br />all operating and maintenance costs incurred by the Authority <br />related to the Transmission System and the Distribution <br />System, all administrative costs incurred by the Authority <br />and the cost of all insurance maintained by the Authority. <br /> <br />"Partic'ipants"- 'shal1 mean (a) La Porte, the <br />Bayshore Municipal Utility District, the City of Morgan's <br />Point, Texas, and the City of Shoreacres, Texas, all of <br />which are located entirely within Harris County, Texas, and <br />each of which has executed a Water Sales Contract with the <br />Authority: and (b) any customer who executes a Water Sales <br />Contract with ,.the,..A1Jthority from and after the da:t~ .of , <br />exe~.u:tion of,. s:u;ch. 'c:6"n)=:f#~t..!..:.-, ":.~:', ; ~.: ::_:. ...~;.,~~. _: :..,~<~ ",'" _ '. <br /> <br />. "Paying Agent/Registrar" shall mean First City <br />National Bank of Houston, Houston, Texas, or its successor <br />appointed pursuant to Section 2.08. <br /> <br />022DESAO/024C05 <br /> <br />-3- <br />