92-013 ORD CERTIFICATE FOR ORDINANCE AUTHORIZING ISSUANCE OF COP WATERWORKS AND SEWER SYSTEM REVENUE BONDS SERIES 1992

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(a) The Mayor of the Issuer and the City Clerk sign a written certificate to the effect that the Issuer is not in default as to any covenant, condition, or obligation in connection with all then Series 1991 Bonds, Bonds and Revenue Bonds, and the ordinances authorizing same, and that the interest and sinking funds for both the Series 1991 Bonds, the Bonds and the Revenue Bonds, and the Revenue Bonds Reserve Fund for the Revenue Bonds, each contains the amount then required to be therein. (b) An independent certified public accountant, or independent firm of certified public accountants, acting by and through a certified public accountant, signs a written certificate to the effect that, in his or its opinion, during either the next preceding fiscal year, or any twelve consecutive calendar month period ending not more than ninety days prior to the passage of the ordinance authorizing the issuance of the then proposed Revenue Bonds, the Net Revenues were, if the then proposed bonds are to be Revenue Bonds, at least equal to the aggregate of 1.10 times an amount equal to the average annual principal and interest requirements of all then outstanding bonds of any nature or lien which are payable from Net Revenues and which are scheduled to be outstanding after the delivery of the then proposed Revenue Bonds. It is specifically provided, however, that in calculating the amount of Net Revenues for the purposes of this subsection (b), if there has been any increase in the rates or charges for services of the System which is then in effect, but which was not in effect during all or any part of the entire period for which the Net Revenues are being calculated (hereinafter referred to as the "entire period") then the certified public accountant shall determine and certify the amount of Net Revenues as being the total of (i) the actual Net Revenues for the entire period, plus (ii) a sum equal to the aggregate amount by which the actual billings to customers of the System during the entire period would have been increased if such in- creased rates or charges had been in effect during the entire period. (c) An independent registered professional engineer of the State of Texas, or an independent firm of engineers acting by and through a registered professional engineer of the State of Texas, signs a written certificate to the effect that, in his or its opinion, during each fiscal year while any Series 1991 Bonds, the Bonds or Revenue Bonds are scheduled to be outstanding, beginning with the fiscal year next following the date of the then proposed Revenue Bonds, the Net Revenues estimated to be received during each of said fiscal years, respectively, will be at least equal to 1.10 times the principal and interest requirements, during each such fiscal year, respectively, of all bonds of any nature or lien which are payable from Net Revenues and which are scheduled to be outstanding after the issuance of the then proposed Revenue Bonds. In arriving at such opinion there may be taken into consideration any prospective additions to the System or the Net Revenues, any scheduled, projected, or reasonably expected changes in rates and charges, anticipated increases or decreases in Net Revenues or maintenance and operation expenses of the System, and any other factor which in his or its opinion would have a material impact on the Net Revenues. 27