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<br />I <br /> <br />I <br /> <br />I <br /> <br />L <br /> <br />Section 8.08. Security of Funds. <br /> <br />All moneys on deposit in the funds referred to in this Ordinance shall be secured in the <br />manner and to the fullest extent required by the laws ofthe State of Texas for the security of public <br />funds, and moneys on deposit in such funds shall be used only for the purposes permitted by this <br />Ordinance. <br /> <br />Section 8.09. Investments. <br /> <br />(a) Money in the Funds established by this Ordinance, at the option of the City, may be <br />invested in such securities or obligations as permitted under applicable law. <br /> <br />(b) Any securities or obligations in which money is so invested shall be kept and held in <br />trust for the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied <br />to the making of all payments required to be made from the fund from which the investment was <br />made. <br /> <br />Section 8.10. Investment Income. <br /> <br />Interest and income derived from investment of any fund created by this Ordinance shall be <br />credited to such fund. <br /> <br />ARTICLE IX <br /> <br />ADDITIONAL OBLIGATIONS <br /> <br />Section 9.01. Issuance of Additional Parity Obligations Authorized. <br /> <br />In addition to the right to issue obligations of inferior lien as authorized by the laws of this <br />State, the City reserves the right to issue Additional Parity Obligations which, when duly authorized <br />and issued in compliance with law and the terms and conditions hereinafter appearing, shall be on <br />a parity with the Bonds herein authorized, payable from and equally and ratably secured by a lien on <br />and pledge of the Net Revenues of the System; and the Bonds and Additional Parity Obligations <br />shall in all respects be of equal dignity. The Additional Parity Obligations may be issued in one or <br />more installments, provided, however, that none shall be issued unless and until the following <br />conditions have been met: <br /> <br />(a) The City is not then in default as to any covenant, condition or obligation prescribed <br />in an ordinance authorizing the issuance of the outstanding Parity Revenue Obligations. <br /> <br />(b) The proposed Additional Parity Obligations shall have been approved by the Attorney <br />General of Texas. <br /> <br />SANMARCOS/WWWSRev2006-2: Ordinance <br /> <br />31 <br />