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Additional Parity Bonds or which the Issuer shall be acquiring from <br />proceeds of such Additional Parity Bonds, and which has been operating <br />for a part of the Fiscal Year or twelve (12) month period referred <br />to above. (ii) In the event a change has been made in the rate <br />schedule for services from the Facilities prior to the issuance of <br />the proposed Additional Parity Obligations for a part of said Fiscal <br />Year or twelve (12) month period referred to above, and such change <br />has resulted in an increase in Net Revenues, by adding thereto such <br />amount of additional Net Revenues, which the Consulting Engineer <br />estimated would have been received by the Issuer during said Fiscal <br />Year or twelve (12) month period if such change in such rate schedule <br />had been in effect during the entire Fiscal Year or twleve (12) month <br />period, and in the event a change ahs been made in the rate schedules <br />for services from said Facilities prior to the issuance of the <br />proposed Additional Parity Obligations for a part of the Fiscal Year <br />or twelve (12) month period referred to above, and such change has <br />resulted in a decrease in Net Revenues, by subtracting therefrom <br />such amount of the Net Revenues which the Consulting Engineer <br />estimates would not have been received by the Issuer during such <br />Fiscal Year or. twelve (12) month period referred to above if such <br />change in such rate schedule had been in effect during said entire <br />Fiscal Year or twelve (12) month period. <br />(2) The Net Revenues as estimated by the Consulting <br />Engineers for the first twelve (12) months following completion of <br />the project for which the Additional. Parity Bonds are issued shall <br />equal at least 1.25 times the largest amount of principal and interest <br />which will become due in any succeeding Fiscal Year on the Obliga- <br />tions and those proposed to be issued. <br />Each resolution authorizing the issuance of Additional <br />Parity Obligations will recite that all of the covenants herein con- <br />tained will be applicable to such Additional Parity Obligations. <br />The Issuer shall not be in default in performing any of <br />the covenants and obligations assumed hereunder, and all payments <br />herein required to have been made into the accounts and funds, as <br />provided hereunder, shall have been made to the full extent required. <br />-29- <br />