Rate Stabilization Account definition
Examples of Rate Stabilization Account in a sentence
The total of the amounts held in the Rate Stabilization Account pursuant to this Section 10.2 shall not exceed, during any fiscal year, 500% of the Average Aggregate Debt Service, calculated as of the first day of such fiscal year (or, if the interest on any District Debt cannot be determined as of such date, 500% of the Average Aggregate Debt Service estimated by the District on a reasonable basis as of such date).
The District shall establish and maintain a Rate Stabilization Account (including any subaccounts that the District determines to establish therein) in the Revenue Fund for the purpose of providing, and in amounts reasonably necessary to provide, sufficient funds for the purpose of maintaining, to the extent practicable, Revenues from the Water Availability Charge and the Water Development Surcharge at constant levels for such periods as the District may determine from time to time.
The Authority may withdraw amounts from the Rate Stabilization Account (i) for transfer to the Revenue Fund for inclusion in Revenues for any Fiscal Year, or (ii) for any other lawful use of the Authority.
Notwithstanding the foregoing, a District need not establish a Subordinate AV Obligation Payment Account or a Subordinate Revenue Obligation Payment Account unless and until it has incurred Subordinate AV Obligations or Subordinate Revenue Obligations, respectively; a District need only establish a Rate Stabilization Account if and when it deems the establishment of such account to be necessary or appropriate for the management of its financial affairs.
Amounts transferred from the Rate Stabilization Account to the Revenue Fund pursuant to this Section 3.05 during or within 270 days after a Fiscal Year, may be taken into account as Revenues for purposes of the calculations in Section 6.07 in such Fiscal Year.