Ordinance 2298-98 - Laserfiche WebLink

(c) the additional Net Revenue that would have been received if any customers added to the System during such twelve-month period had been customers for the entire period. Such engineer or accountant shall base his certification upon, and his certificate shall have attached thereto, financial statements of the System audited by the State Examiner (unless such an audit is not available for a twelve-month period within the preceding twenty-four months) and certified by the City Treasurer, showing income and expenses for the period upon which the same is based. The certificate of such engineer or accountant shall be conclusive and the only evidence required to show compliance with the provisions and requirements of this subsection A(5). Notwithstanding the foregoing requirement, if future Parity Bonds are to be issued for the purpose of refunding at or prior to their maturity any part or all of the then outstanding Parity Bonds and the issuance of such refunding Parity Bonds results in a debt service savings and does not require an increase of more than $5,000 in any year for principal and interest on such refunding Parity Bonds, the certificate required by subsection A(5) of this section need not be obtained. B. Nothing herein contained shall prevent the City from issuing revenue bonds or other obligations that are a charge upon the Revenue of the System junior or inferior to the payments required by this ordinance to be made out of such Revenue into the Revenue Bond Fund and accounts therein to pay and secure the payment of any outstanding Parity Bonds. C. Nothing herein contained shall prevent the City from issuing revenue bonds to refund maturing Parity Bonds for the payment of which money is not otherwise available. Section 19. Sale of the Bond. The City hereby accepts the offer of the Bank to purchase the Bond on the terms and conditions set forth in its offer dated April 29, 1998, and in this -36- DOTOQ5 DOC 98/04/28