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,-. <br />-� <br />bond counsel, as appropriate, the City must provide documentation that it has met the ,�,,, <br />procurement requirements under the Disadvantaged Business Enterprises program; <br />Pled�e Conditions For The Loan <br />36. the Obligations must contain a provision that provides as follows: <br />a. if system revenues aze actually on deposit in the Interest and Sinking Fund in <br />advance of the time when ad valorem talces are scheduled to be levied for any <br />year, then the amount of taxes which otherwise would have been required to be <br />levied and collected may be reduced to the extent and by the amount of revenues <br />then on deposit in the Interest and Sinking Fund; or <br />b. if surptus revenues are based upon budgeted amounts: <br />i. the Obligations must include a requirement that the City transfer and <br />deposit in the Interest and Sinking Fund each month an amount of not less <br />than 1/12th of the annual debt service on the Obligations until the amount <br />on deposit in the Interest and Sinking Fund equals the amount required for <br />annual debt service on the Obligations; further, that the ordinance <br />authorizing the issuance of the Obligations mnst include a requirement <br />that the City shall not transfer any funds from the City's pledged system <br />revenues to any fund other than the Interest and Sinking Fund until such � <br />time as an amount equal to the annual debt service on the Obligations for <br />the then-current fiscal year has been deposited in the Interest and Sinking ' <br />Fund; <br />ii. the Obligations must include a requirement that for each year the <br />Obligations are outstanding, and prior to the time taxes are to be levied for <br />such yeaz, the City shatl establish, adopt, and maintain an annual budget <br />that provides for either the monthly deposit of sufficient surplus pledged <br />revenues and/or tax revenues, the monthly deposit of any other legally <br />available funds on hand at the time of the adoption of the annual budget, or <br />a combination thereof, into the Interest and Sinking Fund for the repayment <br />of the Obligations; and <br />Exhibit A, Page 9 of ] 0 <br />