83-027 ORD CERTIFICATE FOR ORDINANCE

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I 3 i lien on and pledge of the Pledged Revenues hereafter created and made to secure and pay any Prior Lien Additional Bonds (as defined in Section 23 hereof) hereafter issued, and the ~ Pledged Revenues are further pledged irrevocably to the ~ establishment and maintenance of the Funds created by this ~ Ordinance, and any Funds created by any ordinance authoriz- ~ ing the issuance of any Additional Bonds. The Bonds and any ~ ~ Additional Parity Revenue Bonds (as defined in Section 23 : hereof) are and shall be secured by and payable from the ~ ~ Pledged Revenues, in the manner and to the extent provided ; in the ordinances authorizing their issuance, but they are ~ not and will not be secured by or payable from a mortgage or ~ ; deed of trust on any real, personal, or mixed properties ; constituting the System. ~ R ` Section 9. SYSTEM FUND. That there is hereby created ~ and there shall be established and maintained on the books ; i= of the City, aiid accounted for separate and apart from all ` ~ r, other funds of the City, a special fund to be entitled the ~ '"City of Paris Waterworks and Sewer System Fund" (the ~"System Fund"). All Gross Revenues shall be credited to the ; Systetr, Fund immediately upon receipt, unless otherwise ' x provided in this Ordinance. All current e*penses of opera- ; tion and maintenance of the System shall be paid from such s Gross Revenues credited to the System Fund as a first charge against same. Before making any deposits hereinafter ' required to be made from the System Fund, the City shall retain in the System Fund at all times an amount at least y` equal to one-sixth of the amount budgeted for the then w ?i current fiscal year for the current operation and mainten- ' ance expenses of the System. ? Section 10. INTEREST AND SINKING FUND. That for the ; s sole purpose of paying the principal of and interest on all s bonds which are payable from Pledged Revenues, there is hereby created and there shall be established and maintained ~ on the books of the City, and accounted for separate and ~ apart from all other funds of the City, a separate fund to be entitled the "City of Paris Waterworks and Sewer System ~ Revenue Refunding Bonds Interest and Sinking Fund" (the s~ "Interest and Sinking Fund" ) . ; Section 11. PRIOR LIEN ADDITIONAL BONDS RESERVE FUND. ~ That there is hereby created, and if, in the future, any ~ ~ry Prior Lien Additional Bonds are issued by the City, there ~ c9 shall be established and maintained, at the same bank where ~ the Reserve Fund created pursuant to Section 12 is kept, a ; separate fund to be entitled the "City of Paris Waterworks ' ` and Sewer System Prior Lien Additional Bonds Reserve Fund" (the "Prior Lien Reserve Fund"). The Prior Lien Reserve Fund shall be used to pay the principal of and interest on ~ any Prior Lien Additional Bonds when and to tfie extent the : amounts in the Interest and Sinking Fund are insufficient ' for such purpose, and may be used for the purpose of finally retiring the last of any Prior Lien Additional Bonds. Section 12. RESERVE FUND. That there is hereby ` created and there shall be established and maintained initially at the City's official depository bank, a separate fund to be entitled the "City of Paris Waterworks and Sewer System Bonds and Additional Bonds Reserve Fund" (the "Re- serve Fund"). The Reserve Fund shall be used to pay the s; principal of and interest on any Bonds or Additional Bonds ( when and to the extent the amounts in the Interest and i; Sinking Fund available for such payment are insufficient for ~i such purpose, and may be used for the purpose of finally ' retiring the last of any Bonds or Additional Bonds. ~4 ? ; Section 13. IMPROVEMENT AND CONTINGENCY FUND. That ~ ; there is hereby created and there shall be established and ~ ~ maintained on the books of the City, and accounted for ' ' separate and apart from all other funds of the City, a ~ { E 92 ~ 4 ~ ~7 i ~ / I ~ _ _ _ . . . . . . . . . ~ . .