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J <br /> The applicable parity conditions set forth in Ordinance Nos. 2208-97, 2607-02, 2690-03 <br /> and 2870-05 having been complied with, the Bonds shall be issued on a parity of lien with the <br /> Outstanding Parity Bonds. <br /> The City hereby further covenants and agrees that the Bonds will not be issued and <br /> delivered to the purchasers thereof as bonds on a parity with the Outstanding Parity Bonds until <br /> the certificate required herein, in form and contents satisfactory to the City and its counsel, has <br /> been filed with the City. <br /> Section 3. Authorization of Projects . The Improvement Bonds are being issued to <br /> provide funds to reimburse the City for previously incurred capital expenditures (designated for <br /> reimbursement) and to pay the costs of acquiring, constructing and installing certain additions <br /> and betterments to and extensions of the City's water and sewer system (the"Projects"). <br /> The City shall provide all equipment, connections and appurtenances together with all <br /> work as may be incidental and necessary to complete the.Projects. The Project facilities shall be <br /> integrated into the System as required to provide a fully operational facility. <br /> The City may make such changes in or additions to the Projects or in the construction or <br /> design of other facilities of the System as may be found necessary or desirable. Implementation <br /> or completion of any specified improvement shall not be required if the Council determines that, <br /> due to substantially changed circumstances, it has become advisable or impractical. If the <br /> Projects have either been completed, or its completion duly provided for, or their completion <br /> found to be impractical, the City may apply the Bond proceeds or any portion thereof to other <br /> improvements to the System, as the Council in its discretion shall determine. In the event that <br /> the proceed of sale of the Bonds, plus any other moneys of the City legally available, are <br /> insufficient to accomplish all of the Projects provided by this section, the City shall use the <br /> -23- P:k20287 CMW120287 8B0 03/25/09 <br />