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0 <br />Policids, which are, collectively, all policies related to the System <br />and coordinated solid waste management for the County, the towns -and* <br />the persons and organizations in their jurisdictions, '- as the same may <br />exist from time to'time (including all such policies in effect as of <br />the date of this Agreement) . The term " Solid Waste Management Plan and <br />Policies" thereby encompasses all policy choices, as in effect from <br />time to time, related to " the' management and operation of the system. <br />"State" means the State of North Carolina. <br />wSystamw means all assets, including both real and personal <br />property, used from. time to time in the' conduct of the functions of <br />collecting anal processing County Recyclables, reducing solid waste, <br />disposing of Solid. Waste and mulching, compofting and re-usin4`Solid <br />Waste, and includes both •a) the Existing System Absets and (b) all <br />moneys and investments related to such functions.. <br />"System Debt: .11 means all obligations for payments of principal. and <br />interest with respect to borrowed money incurred or assumed by the <br />County in connection with the ownership or operation of the System, <br />without regard to the form of the transaction, and specifically <br />including leases or similar financing agreements which are r6quired to <br />be capitalized in accordance with generally accepted accounting <br />principles. System Debt is "Outstanding" at all times after it is <br />issued or contracted until it is paid. <br />"System EmPlaYeesw means employees of Chapel Hill directly <br />engaged in carrying out System business (but expressly pressly not including <br />employees of Chapel Hill's sanitation department). <br />"System Management Facllltleisff means those assets of the System <br />used to provide (a) final disposal of solid waste, including <br />construction and demolition waste, such.a[s landfills, or (b) any other <br />handling or processing of materials placed in the custody •of the <br />System, such as transfer stations, materials recovery facilities or <br />facilities for cleaning, sorting or' other processing . of recy.61"able <br />material. <br />`S.Ystem Revenues" ineans all amounts . derived by the County from <br />the imposition of rates, fees and charges for the use of,. and for the <br />services furnished by, ,the *System. <br />VL TOVWSAV means, collectively, Carrboro, Chapel Hill and <br />Hillsborciugh. <br />'Ift Transfer Date" means the effective date. <br />is <br />