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f< f <br /> <br /> <br /> <br /> ~ <br /> ' <br /> tAdditional 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 /> ~ sha11 be additionally secured equally along with the Bonds ' <br /> by the Reserve Fund, as provided in Sections 12 and 18 j <br /> hereof. <br /> !3 <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. 1 <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 in- ~ <br /> stallment, Series, or issue of Additional Parity Revenue <br /> J; Bonds shall be issued or delivered unless: <br /> ; <br /> (a) The Mayor of the City and the City Clerk sign a ~ <br /> written certificate to the effect` that the City is not in ~ <br /> } default as to any covenant, condition, or obligation in ; <br /> ` connection with all then outstanding Bonds and Additional I <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 /> ~s then required to be therein. ~ <br /> (b) An independent certified public accountant, or in- <br /> dependent firm of certified public accountants, acting by ~ <br /> ~D and through a certified public accountant, signs a written ~ <br /> certificate to the effect that, in his or its opinion, 6 <br /> during either the next preceding fiscal year, or any twelve E <br /> consecutive calendar month period ending not more than ~ <br /> ninety days prior to the passage of the ordinance author- " <br /> ~ izing the issuance of the then proposed Additional Parity ; <br /> ~ Revenue Bonds, the Pledged Revenues were: j <br /> , <br /> ~ (1) if the then proposed bonds are to be Prior ; <br /> ~ Lien Additional Bonds, at least 1.25 times an amount ~ <br /> ~ <br /> equal to the average annual principal 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 /> and interest requirements of all then outstanding bonds s <br /> of any nature or lien which are payable from Pledged ~ <br /> Revenues and which are scheduled to be outstanding ~ <br /> ~ after the delivery of the then proposed Additional ~ <br /> ~ Bonds. ~ <br /> , <br /> It is specifically provided, however, that in calculat- <br /> i ing the amount of Pledged Revenues for the purposes of this <br /> ~ subsection (b), if there has been any increase in the rates <br /> ~ or charges for services of the System which is then in ; <br /> effect, but which was not in effect during all or any part E <br /> of the entire period for which the Pledged Revenues are € <br /> being calculated (hereinafter referred to as the "entire & <br /> 9 period") then the certified public accountant shall deter- ~ <br /> ? mine and certify the amount of Pledged Revenues as being the ¢ <br /> a, total of (i) the actual Pledged Revenues for the entire ~ <br /> ' period, plus (ii) a sum equal to the aggregate amount by <br /> which the actual billings to customers of the System during ~ <br /> y" the entire period would have been increased if such in- ~ <br /> creased rates or charges had been in effect during the <br /> entire period. ~ <br /> tl <br /> 13 <br /> ~ <br /> i <br />