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42//fJ Sectiœ. 8.08. Security of Funds. - All IJ:JODeYS on deposit in the fimds refem:d to in this 0rdÏnaD/;::e shall be secured in the IIJaIJner and to the fulIest extent requixed by the 1a\W of the State ofT c:xas fer the security of public funds, and ~ œ deposit in such funds sball be used cnly fir the pu¡poses permitted by this 0rdÏnaD/;::e. Secticn 8.09. Inv~t.. (a) 1vfuoey in the Interest and Sinking Fund and the Reserve Fund, at the optiœ of the City, may be invested in such securities er ob1igaticns as permitted under applicab}e law. (b) Any securities er obligatioos in which IDoCÐeY is so invested shall be b:pt and held in trust fir the beœfi:t of the Owners and shall be saId and the proceeds of sale sball be timely applied to the making of all payments required to be made fia:n the fund fia:n which the in vesIme:Dt \W.S made. Sectiœ. 8.1 0 . Investment Inrome. Jnt:erest and income derived ftom. investment of any fund created by this Ordinance shall be credited to such fund. * * * Sectiœ. 9.01. Issuance of Additional Parity ObIi"Ations Authorized In additi.cn to the right to issue obligations of inferier lien as authorized by the 1a\W of this State, the City :reserves the right to issue Additiooal Parity Obligatiœs whicl1, ...wen duly autbaized and issued in C1YI'1p1ÎJmc.e with law and the tenDs and cmditim.. beteÏDafter appearing, sball be on a parity with the Boods be:re:in authorized, pa~ fia:n and equally and ratabiy secured by a lien on and pledge of the Net Revenues of the Systcn; and the Bmds and Additional Parity Obligations sball in all respects be of equal dignity. The Additional Parity Obligatiœs may be issued in ODe er moce instRnrT1ð1t.., provided, however, that none sball be ~ unless and lmtil the following CCI1ditiœs have been met ~ (a) The City is not then in default as to any rovenant, condition er obligatiœ prescnòed in an crdinanœ authcrizing the issuance of the ootstHT}liiDg Pricrity Obligatiœs er Parity Revenue Obligations. (b) The ¡xoposed Additional Parity Obligations sball have been ~ved by the At:tarney Gene:ral ofTexas. (c) Eacl1 of the Funds created fir the payment, security and benefit of the Pricrity Obligatiœs and Parity Revenue Obligatiœs cœtains the amount of IDoCÐeY then required to be en deposit tben:in. (d) The City bas secured fu:m a Certified Public Accoontant a certificate er report ref1ect:ing that fer the fiscal year next preceding the date of the ¡xopœed Additiooa.1 Parity Obligatiœs er a çoo<;PM.Itive twelve (12) IIIODth period out oftbe fifteen (15) mooth period next preceding the mœth in which the crdinanœ autbocizmg the ¡xoposed Additional Parity Obligations is adopted, the "!let revenues" of the System were equal to at least 1.20 times the canbined waage annual ¡xincipal and interest requireme:nís on all Parity Revenue: Obligatioos to be OIrt..tRWIing after the issuance of the proposed Additional Parity Obligations. In making a dete:rminaíiœ of such net revenues, the Certified Public Accoontant may take into consideration a clJange in the rates and charges fir serviœs and facilities affixded by the System that became effective at least sixty (60) days ¡xier to the Jast day of the period fer which such net revenues arc dete:múned and, for pu¡poses of satisfying such net revenues test, make a pro forma determination of such net revenues fir the period of time rovered by the certificate cc report based upon such clJange in rates and cl:iarges as being in effect for the entire period rovered by the certificate er re¡xxt. The term. "net revenues" as used in this Sectiœ. 9.02 sball mean the gross revenues of the System after dedJlCtioo. of maintí."!1Rl1N". and opemtiDg expenses, but not deducting de¡n:ciaticn er expenditures which, under staDdani =mting practiœs, are classed as capital expenditures. -: (e) The Additiooal Parity Obligatiœs are made to mature on Fdxuaxy 15 cc August 15, either cc both, of each year in which they are schedulro to mature. (f) The crdinanœ authcrizing the Additiooal Parity Obligatiœs provides (i) that the Jnt:erest and Sinking Fund be 8J!g¡nentffi by amounts adequate to Arnm1ll1At,. the sum required to pay the ¡xincipal and interest on such obligatiœs as the same sball becane due; and (ii) the amount to be accumulated and maint"int">"! in the Reserve F1.IDd, ()[" such amount tDgethe:r with the amount ()[" amounts any Surety Policy er Policies, sball be increased to an amount not Jess than the avaage 8IJIlual ¡xincipal and interest require:menís of all Parity Revenue Obligatiœs to be OlIt..tRWIing after giving effect to the issuance of the proposed MÆtim,'¡ obligAtirnq, and any JldditiCYIR) amount required to be maintRiTlt'd in the Reserve Fund shall be accumulated within sixty-œe mœtbs fu:m the date of delivery of such Additiooal Parity Obligatioos. 20