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(2 ) If there are assessments levied in any utility <br /> local improvement district to pay for additions and improve- <br /> ments to and extensions of the System which will be con- <br /> structed from the proceeds of such future Parity Bonds, the <br /> ordinance authorizing such future Parity Bonds shall require <br /> that such assessments be paid into the Revenue Bond Fund. <br /> (3 ) If there are assessments pledged to be paid <br /> into a warrant or bond redemption fund for revenue bonds, <br /> warrants or other revenue obligations being refunded by <br /> future Parity Bonds, the ordinance authorizing the future <br /> Parity Bonds shall require such assessments to be paid into <br /> the Revenue Bond Fund. <br /> (4) The principal of and interest on the future <br /> Parity Bonds shall be payable out of the Revenue Bond Fund <br /> and the Reserve Account requirements in Section 7 <br /> hereof shall be met. <br /> (5) Prior to the delivery of any future Parity <br /> Bonds the City shall have on file in the office of the Clerk <br /> of the City a certificate of an independent professional <br /> engineer or certified public accountant dated not earlier <br /> than ninety (90) days prior to the date of delivery of such <br /> future Parity Bonds and showing that the Net Revenue, <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 /> -39- WMD202 85/06/10 <br />