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<br />and five-tenths (1.5) times the average annual debt service requirements of the then <br />Outstanding Bonds, as certified by a Certified Pub1ic Accountant; and <br /> <br />(e) The annual net revenues of the System will be equal to at least one <br />and five-tenths (1.5) times the average annual amount required for payment of <br />principal of and interest on all outstanding revenue bonds, Bonds and Additional <br />Bonds then proposed to be issued, as such principal and interest are scheduled to <br />become due, as certified to by an Independent Consulting Engineer. <br /> <br />Provided, however, that is shall not be necessary for the City to meet the <br />above requirements as to the average annual debt service requirements if the City <br />obtains the written consent of the owners or holders of at least seventy-five percent <br />(75%) of the Outstanding Bonds, Bonds and Additional Bonds then outstanding. <br /> <br />(f) The ordinance authorizing the Additional Bonds provides: (i) for <br />payments of principal thereof on January 1 of the appropriate year or years and for <br />payments of interest thereon on January 1 and July 1; (ii) for an identical flow of <br />funds as prescribed by this Ordinance; (iii) that all revenues deposited in the special <br />funds and accounts as created and established by this Ordinance shall be comingled; <br />and (iv) for appropriate additional or larger payments to be made into said special <br />funds and accounts so that the security of the Outstanding Bonds, Bonds and any <br />Additional Bonds will not be impaired. <br /> <br />ARTICLE IX <br />INVESTMENTS <br /> <br />Section 9.01. Investments. <br /> <br />(a) Money in each fund created by this Ordinance, at the option of the <br />City, may be invested in such securities or obligations as permitted herein. <br /> <br />(b) Any securities or obligations in which money is so invested shall be <br />kept and held in trust for the benefit of the Bondholders and shall be sold and the <br />proceeds of sale shall be timely applied to thé making of all payments required to be <br />made from the fund from which the investment was made. <br /> <br />Section 9.02. Investment Income. <br /> <br />Interest and income derived from investment of the Interest and Sinking Fund <br />shall be credited to such Fund. <br /> <br />ARTICLE X <br />PARTICULAR REPRESENTATIONS AND COVENANTS <br /> <br />Section 10.01 Rates and Charges. The City further covenants and agrees <br />that, so long as any of the Outstanding Bonds, Bonds and Additional Bonds remain <br />outstanding and unpaid, it shall fix and maintain rates and collect charges for the <br /> <br />2906f <br /> <br />-23- <br />