83-027 ORD CERTIFICATE FOR ORDINANCE

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~ s ~ ~ p the delivery of any installment or issue of Additional Bonds ~ shall be funded, within not more than five years from the a=',date of such delivery, by deposits of Pledged Revenues in ~ 1a,approximately equal semiannual installments on or before the ; lOth day of each June and each December. Principal amounts ~ 1! of the Bonds and any Additional Bonds which must be redeemed ~ pursuant to any applicable mandatcry redemption requirements ~ ; shall be deemed to be maturing amounts of principal for the ; y purpose of calculating principal and interest requirements on such bonds. When and so long as the amount in the ~ # Reserve Fund is not less than the Required Reserve Amount no ~ deposits shall be made to the credit of the Reserve Fund; ; but when and if the Reserve Fund at any time contains less i' than the Required Reserve Amount, then the City shall ; transfer from Pledged Revenues in the System Fund, and ; deposit to the credit of the Reserve Fund, semiannually on ; or before the lOth day of each June and of each December, a : ; sum equal to 1/10th of the Required Reserve Amount, until ~ the Reserve Fund is restored to the Required Reserve Amount. ~ The City specifically covenants that when and so long as the ~ ; Reserve Fund contains the Required Reserve Amount, the City ' shall cause all interest and income derived from the deposit or investment of the Reserve Fund to be ~deposited to the ~ ~ credit of the Bonds and Additional Bonds Account in the ~ Interest and Sinking Fund. ~ E; Section 19. IMPROVEMENT AND CONTINGENCY FUND REQUIRE- ~ ~ MENTS. That after delivery of the Bonds and subject to the priorities and deposits provided for and required under ~ Section 15 of this Ordinance, the City will, at the end of i i: each fiscal year, cause all remaining surplus Pledged ~ ' Revenues from the System Fund to be transferred and ; deposited to the credit of the Improvement and Contingency ? Fund, to be used as provided or permitted in Section 13 of ? ~ ± this Ordinance. ; Jl ~ ; Section 20. DEFICIENCIES; EXCESS PLEDGED REVENUES. (a) That if on any occasion there shall not be sufficient ; F' Pledged Revenues to make the required deposits into the In- ~ terest and Sinking Fund, the Prior Lien Reserve Fund, or the ; ~ Reserve Fund, then such deficiency shall be made up as soon e as possible from the next available Pledged Revenues. ; ? (b) That, subject to making the required deposits to ~ m the credit of the various Funds when and as required by this Ordinance or any ordinance authorizing the issuance of Addi- ~ tional Parity Revenue Bonds, any surplus Pledged Revenues ~ may be used by the City for any lawful purpose. ~ ; Section 21. PAYMENT OF BONDS AND ADDITIONAL PARITY ~ z REVENUE BONDS. On or before June 10, 1984, and semiannually € = on or before each December 10 and June 10 thereafter while y ~ any of the Bonds or Additional Parity Revenue Bonds are x outstanding and unpaid the City shall make available to the ± Paying Agents therefor, out of the Interest and Sinking c Fund, or if necessary, out of the Reserve Fund, or the Prior Lien Reserve Fund, as applicable, money sufficient to pay, ' on each of such dates, the principal of and interest on the ' ~ Bonds and Additional Parity Revenue Bonds as the same matures and comes due, or to redeem the Bonds or Additional ~ Parity Revenue Bonds prior to maturity, either upon manda- Y; ~ tory redemption or at the option of the City. The Paying ; ; Agents shall destroy all paid Bonds and Additional Parity Revenue Bonds, and the coupons appertaining thereto, and ~ furnish the City with an appropriate certificate of can- cellation or destruction. ; Section 22. FINAL DEPOSITS. (a) That any Bond or fi Additional Parity Revenue Bond shall be deemed to be paid, ~ i` retired, and no longer outstanding within the meaning of ? this Ordinance when payment of the principal of, redemption ~ premium, if any, on such Bond or Additional Parity Revenue ~ s ~ ~ 11 ; ~ ; ~ ; ~ ~