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Before issuing any such Additional Parity Bonds, there shall have been obtained and filed with the County a certificate of an independent firm of certified public accountants of suitable experience and responsibility: (i) stating that the books and records of the County relating to the collection and receipt of the Revenues and the Operating Expenses have been audited by them for the Fiscal Year immediately preceding the date of sale of the proposed obligations or for any twelve (12) consecutive month period out of the eighteen (18) consecutive months immediately preceding the date of sale of the proposed obligations; (ii) setting forth the Revenues, the Uniform Charges, the Operating Expenses and the Net Revenues for the audited period referred to in (i) above, with respect to which such certificate is made; and (iii) stating that: (a) during such audited period, the County was in compliance with the rate covenant previously discussed; and (b) the Net Revenues, as adjusted as hereinafter provided, were equal to at least 1.20 times the largest amount of principal and interest which will mature and become due in any Fiscal Year thereafter on all Bonds then outstanding, including the proposed Additional Parity Bonds; and when the Revenues include receipts and revenues in addition to Uniform Charges, the Uniform Charges less Operating Expenses, adjusted as hereinafter provided, were equal to at least 1.00 times the largest amount of principal and interest that will mature and become due in any Fiscal Year thereafter on all Bonds outstanding, including the proposed Additional Parity Bonds. For purposes of (iii) above: (A) Revenues, Uniform Charges and Operating Expenses may be adjusted so as to fairly represent the operation of the System, provided that the amount and a detailed reason for each such adjustment is set forth in such certificate; (B) Net Revenues may also be adjusted for (i) the pro forma effect of rates implemented prior to issuance of the Additional Parity Bonds, (ii) new customers added to the System during the test period, (iii) already existing occupied residences or operating business establishments which will be connected to the System upon completion of projects under construction or to be funded with bond proceeds, and (iv) Net Revenues attributable to customers for whom Impact Fees have been paid, and which will be connected to the System upon completion of projects under construction or to be funded with bond proceeds (provided that while the Series 1989 Bonds are outstanding and the Bond Insurance Policy is in effect, not more than 40% of the Net Revenues described in this subclause (iv) shall be used as an adjustment under this clause (B) without the consent of the Bond Insurer); and (C) any amounts owed by the County to the issuer of a Reserve Account Credit Instrument as a result of a draw thereon, as appropriate, shall be added to the principal and interest payable thereon on the Bonds to determine compliance with the foregoing test. 14