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and to pledge that payments will be made out of the Revenue of the System and into the Revenue <br /> Bond Fund and the accounts therein to pay and secure the payment of the principal of and interest <br /> on such future Parity Bonds on a parity of lien with the payments required herein to be made out <br /> of such Revenue into such Fund and accounts to pay and secure the payment of the principal of <br /> and interest on any Parity Bonds then outstanding, upon compliance with the following <br /> conditions: <br /> (1) At the time of the issuance of any future Parity Bonds there is no <br /> deficiency in the Revenue Bond Fund or any accounts therein. <br /> (2) If there are assessments levied in any utility local improvement <br /> district to pay for additions and improvements to and extensions of the System which will be <br /> constructed from the proceeds of such future Parity Bonds, the ordinance authorizing such future <br /> Parity Bonds shall require that such assessments be paid into the Revenue Bond Fund. <br /> (3) If there are assessments pledged to be paid into a warrant or bond <br /> redemption fund for revenue bonds, warrants or other revenue obligations being refunded by <br /> future Parity Bonds, the ordinance authorizing the future Parity Bonds shall require such <br /> assessments to be paid into the Revenue Bond Fund. <br /> (4) The principal of and interest on the future Parity Bonds shall be <br /> payable out of the Revenue Bond Fund, and the applicable Reserve Account requirements in <br /> Section 8 hereof shall be met. <br /> (5) Prior to the delivery of any future Parity Bonds the City shall have <br /> on file in the office of the Clerk of the City a certificate of an independent professional engineer or <br /> certified public accountant dated not earlier than ninety (90) days prior to the date of delivery of <br /> such future Parity Bonds and showing that the Net Revenue, determined and adjusted as <br /> hereinafter provided for each calendar year after the issuance of such Parity Bonds (the "Adjusted <br /> Net Revenue"), together with Assessment Income, will at least equal the Coverage Requirement, <br /> calculated as of December 31 of the preceding calendar year. For purposes of calculating the <br /> -29- FWWOBU DOC 97/03/04 <br />