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

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(d) Provision shall be made in the ordinance authorizing their issuance for establishing or contributing to a Reserve Fund so that the amount therein shall be equal to at least the average annual principal and interest requirements of all outstanding and the proposed Revenue Bonds. The Reserve Fund shall be funded, within not more than five years from the date of such delivery of the Revenue Bonds, by deposits of Net Revenues in approximately equal monthly installments on or before the lOth day of each month commencing in the month following the issuance of such Revenue Bonds. The Revenue Bond Reserve Fund shall be used solely to pay the principal of and interest on the Revenue Bonds to the extent of any deficiency in the Revenue Bond Interest and Sinking Fund. Any amounts so applied shall be replaced by equal monthly deposits over the period of time determined in the ordinance authorizing such Revenue Bonds. (e) That all calculations of principal and interest requirements of any bonds made in connection with the issuance of any then proposed Revenue Bonds shall be made as of the date of such Revenue Bonds; and also in making calculations for such purpose, and for any other purpose under this Ordinance, principal amounts of any bonds which must be redeemed prior to maturity pursuant to any applicable mandatory redemption requirements shall be deemed to be maturing amounts of principal of such bonds. The Issuer has reserved the right to issue, not to exceed $9,900,000, as Revenue Bonds, for improvements and extensions to the System, without complying with paragraph (b) of this Section. Section 26. GENERAL COVENANTS. The Issuer further covenants and agrees that in accordance with and to the extent required or permitted by law: (a) Performance. It will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions contained in this Ordinance, and each ordinance authorizing the issuance of the Bonds, and any Revenue Bonds; that it will promptly pay or cause to be paid the principal of and interest on the Bonds, and any Revenue Bonds, on the dates and in the places and manner prescribed in such ordinances and Bonds, and Revenue Bonds; and that it will, at the times and in the manner prescribed, deposit or cause to be deposited the amounts required to be deposited into the Revenue Bonds Interest and Sinking Fund and the Revenue Bonds Reserve Fund; and any holder of the Bonds, and any Revenue Bonds may require the Issuer, its officials, and employees, to carry out, respect, or enforce the covenants and obligations of this Ordinance, or any ordinance authorizing the issuance of Revenue Bonds, by all legal and equitable means, including specifically, but without limitation, the use and filing of mandamus proceedings, in any court of competent jurisdiction, against the Issuer, its officials, and employees. (b) Legal Authority. The Issuer is a duly created and existing home rule city of the State of Texas, and is duly authorized under the laws of the State of Texas to create and issue the Bonds, and any Revenue Bonds; that all action on its part for the creation and issuance of the said obligations has been or will be duly and effectively taken, and that said obligations in the hands of the holders and owners thereof are and will be valid and enforceable special obligations of the Issuer in accordance with their terms. 28