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<br /> <br /> <br /> <br /> <br /> <br /> payable from the Bonds and Additional Bonds Account in the <br /> Interest and Sinking Fund and shall be payable from and <br /> secured by an irrevocable lien on and pledge of the Pledged <br /> Revenues, subject and subordinate only to any Prior Lien <br /> Additional Bonds then outstanding or thereafter issued, <br /> equally and ratably on a parity with the Bonds and all other <br /> outstanding Additional Bonds. Also the Additional Bonds <br /> shall be additionally secured equally along with the Bonds <br /> by the Reserve Fund, as provided in Sections 12 and 18 <br /> hereof. <br /> (d) That the principal of and interest on all Addi- <br /> tional Parity Revenue Bonds must be scheduled to be paid or <br /> mature on June 15 and/or December 15 of the years in which <br /> such principal and interest are scheduled to be paid or <br /> mature. <br /> Section 24. FURTHER REQUIREMENTS FOR ADDITIONAL PARITY <br /> REVENUE BONDS. That Additional Parity Revenue Bonds shall <br /> be issued only in accordance with this Ordinance, and no <br /> installment, Series, or issue of Additional Parity Revenue <br /> Bonds shall be issued or delivered unless: <br /> (a) The Mayor of the Issuer and the City Secretary <br /> sign a written certificate to the effect that the Issuer is <br /> not in default as to any covenant, condition, or obligation <br /> in connection with all then outstanding Bonds and Additional <br /> Parity Revenue Bonds, and the ordinances authorizing same, <br /> and that the Interest and Sinking Fund, the Prior Lien <br /> Reserve Fund, and the Reserve Fund each contains the amount <br /> then required to be therein. <br /> (b) An independent certified public accountant, or <br /> independent firm of certified public accountants, acting by <br /> and through a certified public accountant, signs a written <br /> certificate to the effect that, in his or its opinion, <br /> during either the next preceding fiscal year, or any twelve <br /> consecutive calendar month period ending not more than <br /> ninety days prior to the passage of the ordinance authoriz- <br /> ing the issuance of the then proposed Additional Parity <br /> Revenue Bonds, the Pledged Revenues were: <br /> (1) if the then proposed bonds are to be Prior <br /> Lien Additional Bonds, at least 1.25 times an amount <br /> equal to the average annual nrincipal and interest <br /> requirements, of Prior Lien Additional Bonds which are <br /> payable from Pledged Revenues and which are scheduled <br /> to be outstanding after the delivery of the then <br /> proposed Prior Lien Additional Bonds, or <br /> (2) if the then proposed bonds are to be Addi- <br /> tional Bonds, at least equal to the aggregate of 1.10 <br /> times an amount equal to the average annual principal <br /> 33 <br />