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• <br /> determined and adjusted as hereinafter provided for each <br /> calendar year after the issuance of such Parity Bonds (the <br /> "Adjusted Net Revenue" ) , together with Assessment Income, <br /> will at least equal the Coverage Requirement, calculated as <br /> of December 31 of the preceding calendar year. For purposes <br /> of calculating the Coverage Requirement, the Parity Bonds <br /> proposed to be issued shall be deemed to be outstanding <br /> Parity Bonds . <br /> The Adjusted Net Revenue shall be the Net Revenue for a <br /> period of any twelve consecutive months out of the twenty- <br /> four months immediately preceding the date of delivery of <br /> such proposed Parity Bonds, as adjusted by such engineer or <br /> accountant to take into consideration changes in Net Revenue <br /> estimated to occur under one or more of the following condi- <br /> tions for each year after such delivery for so long as any <br /> Parity Bonds, including the Parity Bonds proposed to be <br /> issued, shall be outstanding: <br /> (a) any increase or decrease in Net Revenue <br /> which would result if any change in rates and charges <br /> adopted by the Council prior to the date of such <br /> certificate and subsequent to the beginning of such <br /> twelve-month period, had been in force during the full <br /> twelve-month period; <br /> (b) any increase or decrease in Net Revenue <br /> estimated by such engineer or accountant to result from <br /> any additions, betterments and improvements to and <br /> 59 Fww003.DOC eziosm <br />