Ordinance 2607-02 - Laserfiche WebLink

subsequent to the beginning of such twelve-month period, had been in force during the full twelve-month period; (ii) any increase or decrease in Net Revenue estimated by such engineer or accountant to result from any additions, betterments and improvements to and extensions of any facilities of the System that (A)became fully operational during such twelve- month period, (B) were under construction at the time of such certificate, or (C)will be constructed from the proceeds of the Parity Bonds to be issued; (iii) 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 Finance Director, 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 -33- P:\CMW\CMW5BE 02/05/21