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• <br /> various amounts required by the Bond Ordinance to be <br /> paid into and maintained in said Fund and Account, all <br /> within the times provided by the Bond Ordinance. <br /> To the extent more particularly provided by the <br /> Bond Ordinance the amounts so pledged to be paid out of <br /> the Revenue of the System into the Revenue Bond Fund <br /> and the Accounts therein shall be a prior lien and <br /> charge upon the Revenue of the System superior to all <br /> other charges of any kind or nature whatsoever except <br /> the Costs of Maintenance and Operation of the System <br /> ( as defined in the Bond Ordinance) and the lien and <br /> charge of the amounts payable to Public Utility District <br /> No. 1 of Snohomish County under an agreement dated <br /> July 21, 1961, the water revenue bonds of the City <br /> dated April 1, 1963 and December 1, 1965, and the sewer <br /> revenue bonds of the City dated September 1, 1960, <br /> July 1, 1963, and May 1, 1969 (herein and in the Bond <br /> Ordinance called the "Refunded Bonds" ) and except that <br /> said amounts are equal in rank to the lien and charge <br /> upon such Revenue of any amounts required to pay and <br /> secure the water and sewer revenue bonds of the City <br /> issued under date of August 1, 1978, and August 1, 1980 <br /> and any water and sewer revenue bonds of the City <br /> hereafter issued on a parity with the bonds of this <br /> issue (herein and in the Bond Ordinance called "Parity <br /> Bonds" ) . The City has irrevocably made full provision <br /> for the payment of the Refunded Bonds. <br /> The City has further bound itself to maintain the <br /> System in good repair, working order and condition, to <br /> operate the same in an efficient manner and at a reason- <br /> able cost, and to fix, maintain and collect rates and <br /> charges for as long as any of the bonds of this issue <br /> are outstanding that will make available, for the <br /> payment of the principal thereof and interest thereon <br /> as the same shall become due, Net Revenue (as defined <br /> in the Bond Ordinance) in an amount which, together <br /> with Assessment Income (as defined in the Bond Ordi- <br /> nance) will' be equal to at least 1 .25 times the maximum <br /> amount required to be paid out of the Revenue Bond Fund <br /> in any year hereafter (except any Term Bond Maturity <br /> Year as defined in the Bond Ordinance) to pay the <br /> principal of and interest on all of such bonds and any <br /> Parity Bonds then outstanding. <br /> The pledge of Revenue of the System and other <br /> obligations of the City under the Bond Ordinance may be <br /> discharged at or prior to the maturity or redemption of <br /> the bonds of this issue upon the making of provisions <br /> for the payment thereof on the terms and conditions set <br /> forth in the Bond Ordinance. <br /> Reference to the Bond Ordinance and any and all <br /> modifications and amendments thereof is made for a <br /> description of the nature and extent of the security <br /> for the bonds of this issue, the funds or revenues <br /> pledged, and the terms and conditions upon which such <br /> bonds are issued. <br /> It is hereby certified and declared that this bond <br /> and the bonds of this issue are issued pursuant to and <br /> in strict compliance with the Constitution and laws of <br /> -29- <br />