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above stipula.ted., asnounts equivalent to such deficiencies s:zall be set aDart <br />and paid into said ilunds from the first available and unallocated revenues of <br />the folloi,ring fiscal year or years, and such payjnents shall be in addition to <br />the amourits hereinabove provided to be othei^v,rlse paid into said Funds during <br />such fiscal year or years. <br />la, (EXCE:33 jc~VLiJUES) Any revenues in excess of t,zose <br />required to establish ar.d maintain the runc?s as above required may be used <br />^ for the redemption of Bonds or Additioi:al Bonds then eligible for prior re- <br />demptiori, or ior the par-Aer.t of any lawfuily issued subordir-ate lien water <br />, and sewer bonds, or for extensior.s of the Systeni to the extent riow or nereafter <br />permitted by law, and if, in the opiniori of a couLpeLent and generaliy recogniz- <br />ed engineer, such elttensions will produce sufficient revenues to vay for their <br />r;aintenarace and operation and w;yll impose no additional expense on the ther <br />existing system, or for anf other lawftiil purpose, <br />19. {;;:;CuitilTY GI' rUIV-DS) All funds created by this <br />ordinance sha11 be secured in the manner and to the fullest extent permitted <br />by the laws oi the Sta.te of Texas for the securi:ty of public funds, and su:h <br />I'unds sha11 be used only for the punposes permitted in ti:is ordinance. <br />20. (ADDITIGI"~AL 3UNDS) The City reserves the right to <br />' issue Additional Bonds, which vrhen issued, shall be secured by and payabie <br />from a first lien on and pledge of the r~et revenues of the systern in the same <br />~ manrier and to the same extent as are the bonds authorized by this ordinance and <br />' such bonds sliall be in all respects of ekaal dignity wit'li the 3onds. 'I'he <br />Additiondl 3unds r.iay be issued ii, one or r:Lore installments provided, however, <br />'Uhat n one of the Additi onal '3onds sliall be is sue d unle s s: <br />(a) Lach of the Funds created by this ordinance contains <br />the anount of uoney then required to be on deposit therein; <br />(b) The Net Larnings of the Syster.l for the twenty four <br />months .zext preceding the date of the issuance are equal to at least 1-1/2 <br />tixr.es the requirements for the payinent of principal and interest on the then <br />outstanding Bonds and Additional Bonds for the year when the arnour,t of such <br />requirements is greatest, as such Net Earnings are shown by a report of a <br />ce:tified public accountant, `l're tem ":Jet Earnings" as used in this Section <br />