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• <br /> City to meet the Costs of Maintenance and Operation of the System <br /> on a current basis . <br /> D. Sale or Disposition of the System. The City will <br /> not sell or otherwise dispose of the System in its entirety unless <br /> simultaneously with such sale or other disposition, provision is <br /> made for the payment into the Revenue Bond Fund of cash or "Gov- <br /> ernment Obligations, " as now or hereafter defined in RCW Chapter <br /> 39 . 53 , as amended, or its successor statute, if any, sufficient <br /> together with interest to be earned thereon to pay the principal <br /> of and interest on the then outstanding Parity Bonds, nor will it <br /> sell or otherwise dispose of any part of the useful operating <br /> properties of the System unless such facilities are replaced or <br /> provision is made for payment into the Revenue Bond Fund of the <br /> greatest of the following: <br /> ( 1 ) An amount which will be in the same proportion <br /> to the net amount of Parity Bonds then outstanding (defined <br /> as the total amount of the Parity Bonds less the amount of <br /> cash and investments in the Revenue Bond Fund and accounts <br /> therein) that the Revenue from the portion of the System sold <br /> or disposed of for the preceding year bears to the total Net <br /> Revenue for such period; or <br /> (2 ) An amount which will be in the same proportion <br /> to the net amount of Parity Bonds then outstanding ( as <br /> defined above) that the Net Revenue from the portion of the <br /> System sold or disposed of for the preceding year bears to <br /> the total Net Revenue for such period; or <br /> (3 ) An amount which will be in the same proportion <br /> to the net amount of Parity Bonds then outstanding (as <br /> defined above) that the depreciated cost value of the facili- <br /> ties sold or disposed of bears to the depreciated cost value <br /> of the entire System immediately prior to such sale or <br /> disposition. <br /> -34- KR180 88/01/11 <br />