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4D <br />40 <br />0 <br />(C) Subsection 3.04(J) of the Original Resolution provides for the <br />issuance of additional parity obligations under the terms, limitations and <br />conditions provided therein. <br />(Q) The Issuer has complied with the terms, limitations and <br />conditions contained in the Original Resolution. The Issuer is, therefore, <br />entitled to issue the Bonds as additional parity obligations within the <br />authorization contained in the Original Resolution. <br />(E) The revenues to be derived annually for the rates, rentals, fees <br />and other charges made and collected for the services and facilities of the <br />System are expected to be sufficient to pay, as the same shall become due and <br />payable, the principal of and interest on the Bonds and the Parity Obligations <br />and the Operating Expenses. Prior to the issuance of the Bonds, the Issuer <br />shall find and determine the estimated annual Gross Revenues, Operating Expenses <br />and principal of and interest on the Bonds. It is estimated that the period of <br />usefulness of the System will exceed 41 years. <br />(F) It is deemed necessary and desirable to pledge the Pledged Funds <br />to the payment of the principal of an(' interest on the Bond,. No part of the <br />Pledged Funds have been pledged or hypothecated except with respect to the Bonds <br />and the Parity Obligations. <br />(G) The Bonds will be on a parity and rank equally as to lien on and <br />source and security for payment from the Pledged Funds with the Parity <br />Obligations. <br />- 4 - <br />