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<br /> "7 A (?; <br /> Section 8.07. Excess Revenues. <br /> - <br /> Any revenues in excess of those required to establish and maintain the Funds as above required may be <br /> used to purchase and retire Parity Revenue Obligations in the open market at not exceeding the market value <br /> thereof, the redemption of such obligations, or for any lawful purpose now or hereafter provided by law. <br /> Section 8.08. Security of Funds. <br /> All moneys on deposit in the funds referred to in this Ordinance shall be secured in the manner and to <br /> -~ the fullest extent required by the laws of the State of Texas for the security of public funds, and moneys on <br /> deposit in such funds shall be used only for the purposes permitted by this Ordinance. <br /> Section 8.09. Investments. <br /> (a) Money in the Funds established by this Ordinance, at the option of the City, may be invested <br /> in such securities or obligations as permitted under applicable law. <br /> (b) Any securities or obligations in which money is so invested shall be kept and held in trust for <br /> the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied to the making of all <br /> payments required to be made from the fund from which the investment was made. <br /> Section 8. 10. Investment Income. <br /> Interest and income derived from investment of any fund created by this Ordinance shall be èredited to <br /> such fund. . <br /> ARTICLE IX <br /> ADDITIONAL OBLIGATIONS <br /> Section 9.01. Issuance of Additional ParitY Obligations Authorized. <br /> In addition to the right to issue obligations of inferior lien as authorized by the laws of this State, the City <br /> reserves the right to issue Additional Parity Obligations which, when duly authorized and issued in compliance <br /> with law and the terms and conditions hereinafter appearing, shall be on a parity with the Bonds herein <br /> authorized, payable from and equally and ratably secured by a lien on and pledge of the Net Revenues of the <br /> System; and the Bonds and Additional Parity Obligations shall in all respects be of equal dignity. The Additional <br /> Parity Obligations may be issued in one or more instalhnents, provided, however, that none shall be issued unless <br /> and until the following conditions have been met: <br /> (a) The City is not then in default as to any covenant, condition or obligation prescribed in an <br /> ordinance authorizing the issuance of the outstanding Parity Revenue Obligations. <br /> (b) The proposed Additional Parity Obligations shall have been approved by the Attorney General <br /> of Texas. <br /> 1lo~\WWU"""""""'o.t»IŒm 24 <br />