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• <br /> Section 22 . The City may invest any moneys in the Bond <br /> and Interest Sinking Fund Account and Construction Account not then <br /> needed to meet the primary obligation or purpose of those funds in <br /> direct obligations of or obligations the principal of and interest <br /> on which are guaranteed by the United States Government, as long as <br /> those investments are readily convertible into money when needed. <br /> Section 23 . The City covenants that it will at all times <br /> so long as any of the Series A Bonds , Series B Bonds and Series C <br /> Bonds are outstanding (1) maintain the Parking System in good repair, <br /> working order and condition, (2) operate the business in connection <br /> therewith in an efficient manner and at a reasonable cost, and (3) <br /> establish, maintain and collect rates and charges for Parking System <br /> services as may be necessary to provide for (1) the operating and <br /> maintenance expenses of the Parking System, and (2) the deposits into <br /> the Bond and Interest Sinking Fund Account and the Repair and <br /> Replacement Reserve Account. <br /> Section 24 . In the event that the net revenues of the <br /> Parking System, defined as the gross revenues deposited to the credit <br /> of the Revenue Fund Account pursuant to Section 13 hereof, less the <br /> current expenses in any fiscal year shall be less than one and two- <br /> tenths (1.2) times the maximum amount of principal and interest <br /> required for any fiscal year thereafter on all then outstanding <br /> Parking System bonds and any additional series of bonds secured on <br /> a parity therewith, the City covenants that it will pay the current <br /> expenses of the Parking System in the ensuing fiscal year from other <br /> legally available funds of the City. <br /> Section 25 . The City covenants and agree with the owner <br /> and holder of each of the Series A Bonds , Series B Bonds and Series <br /> C Bonds for as long as any of them remains outstanding that it will <br /> carry (a) fire and extended coverage insurance on the insurable portion <br /> of its Parking System and any of its facilities in amounts sufficient <br /> to provide for not less than full recovery whenever a loss from perils <br /> -25- <br />