(a) “Application” means an application submitted by an Issuer Applicant to the Authority for review of its proposed Rate Reduction Bonds issuance.

(b) “Authority” means the California Pollution Control Financing Authority.

(c) “Conservation or Reclamation Purposes” is defined in Section 6585(d) of the Government Code.

(d) “Financing Costs” is defined in Section 6585(g) of the Government Code.

(e) “Issuer Applicant” means an entity created pursuant to Article 1, Chapter 5, Division 7, Title 1 of the Government Code (commencing with Section 6500) whose financing activities are limited to financing or refinancing. Utility Projects and projects for the use or benefit of public water or wastewater agencies and which applies to the Authority for review and approval of an issuance of Rate Reduction Bonds.

(f) “Legislative Body” is defined in Section 6585(i) of the Government Code.

(g) “Local Agency” is defined in Section 6585(j) of the Government Code.

(h) “Local Agency Applicant” means a Local Agency that owns and operates a Publicly Owned Utility and which applies to an Issuer Applicant to finance or refinance costs of a Utility Project for the Publicly Owned Utility with the proceeds of Rate Reduction Bonds and whose senior lien unenhanced revenue bonds payable from revenues of the Publicly Owned Utility are, or upon issuance would be, rated not lower than Baa3 by Moody's Investors Service, BBB- by Standard & Poor's Ratings Services, or BBB- by Fitch Ratings, Inc.

(i) “Mandate” is defined in Section 6585(k) of the Government Code.

(j) “Mandating Entity” is defined in Section 6585(l) of the Government Code.

(k) “Publicly Owned Utility” is defined in Section 6585(o) of the Government Code.

(l) “Rate Reduction Bonds” mean bonds that are issued by an Issuer Applicant, the proceeds of which are used directly or indirectly to pay or reimburse a Local Agency or its Publicly Owned Utility for the payment of the costs of a Utility Project, to refund rate reduction bonds, or to refinance water or wastewater revenue bonds of a Local Agency or Publicly Owned Utility issued to finance a Utility Project, (6585(p)) and that are secured by a pledge of, and are payable from, Utility Project Property as provided in Government Code Section 6588.7.

(m) “Utility Project” is defined in Section 6585(r) of the Government Code.

(n) “Utility Project Charge” is defined in Section 6585(s) of the Government Code.

(o) “Utility Project Property” is defined in Section 6585(t) of the Government Code.