Ordinance 2690-03 - Laserfiche WebLink

(f) Words importing the singular number include the plural number and vice versa. Section 2. Compliance with Parity Conditions The Council hereby finds and determines, as required by Section 14 of Ordinance No. 1963-93, Section 13 of Ordinance No. 2208-97 and Section 11 of Ordinance No. 2607-02, as follows: That the Bonds are being issued for the purpose of providing funds to acquire, construct, reconstruct, install, or replace equipment, facilities, additions, betterments, or other capital improvements to the System for which it is authorized by law to issue revenue bonds and for refunding at or prior to their maturity outstanding revenue bonds payable out of the Revenue of the System; That at the time of issuance of the Bonds, the City shall have on file (i) a certificate of the Finance Director showing that there is no deficiency in the Revenue Bond Fund or any accounts therein and (ii) a certificate of the Finance Director showing that issuance of the 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 the Bonds; That the Bonds shall be payable out of the Revenue Bond Fund, and that the Reserve Account requirements in Ordinance Nos. 1963-93, 2208-97 and 2607-02 will be fulfilled on or prior to the date of issuance of the Bonds; and That the requirements of Section 14.A(3) of Ordinance No. 1963-93, Section 13.A(3) of Ordinance No. 2208-97, and Section 11.A(3) of Ordinance No. 2607-02 with respect to any Assessments securing the Refunded Bonds are met by the terms and conditions of this ordinance. -13- P:\CMW\CMW5NP 04/22/03