Ordinance 941-83 - Laserfiche WebLink

showing that the Net Revenue, determined and adjusted as hereinafter provided for each calendar or fiscal year after the issuance of such Parity Bonds (the "Adjusted Net Reve- nue" ) , together with Assessment Income, will equal at least 1 .25 times the Annual Debt Service in such year. The Adjusted Net Revenue shall be the Net Revenue for a period of any twelve consecutive months out of the twenty-four months immediately preceding the date of delivery of such proposed Parity Bonds as adjusted by such engineer or accountant to take into consideration changes in Net Revenue estimated to occur under one or more of the following condi- tions for each year after such delivery for so long as any Parity Bonds, including the Parity Bonds proposed to be issued, shall be outstanding: (a) any increase or decrease in Net Revenue which would resultif any change in rates and charges adopted prior to the date of such certificate and subsequent to the beginning of such twelve month period, had been in force during the full twelve month period; (b) any increase or decrease in Net Revenue estimated by such engineer or accountant to result from any additions, betterments and improvements to and extensions of any facilities of the System which (i ) became fully operational during such twelve month period, (ii ) were under construction at the time of such certificate or (iii ) will be constructed from the proceeds of the Parity Bonds to be issued; (c) the additional Net Revenue which would have been received if any customers added to the . System during such twelve month period were customers for the entire period. -23- WMD20 83/05/02