Ord 1991-021 - Laserfiche WebLink

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revenue bonds, Bonds and Additional Bonds then proposed to be issued, as such principal and interest are scheduled to become due, as certified to by an Independent Consulting Engineer. (f) The ordinance authorizing the Additional Bonds provides: (i) for payments of principal thereof on January I of the appropriate year or years and for payments of interest thereon on January I and July 1; (ii) for an identical flow of funds as prescribed by this Ordinance; (iii) that all revenues deposited in the special funds and accounts as created and established by this Ordinance shall be comingled¡ and (iv) for appropriate additional or larger payments to be made into said special funds and accounts so that the security of the Outstanding Bonds, Bonds and any Additional Bonds will not be impaired. ARTICLE IX INVESTMENTS Section 9.01. Investments. (a) Money in each fund created by this Ordinance, at the option of the City, may be invested in such securities or obligations as permitted herein. (b) Any securities or obligations in which money is so invested shall be kept and held in trust for the benefit of the Bondholders and shall be sold and the proceeds of sale shall be timely applied to the making of all payments required to be made from the fund from which the investment was made. Section 9.02. Investment Income. Interest and income derived from investment of the Interest and Sinking Fund shall be credited td such Fund. ARTICLE X PARTICULAR REPRESENTATIONS AND COVENANTS Section 10.01 Rates and Charqes. The City further covenants and agrees that, so long as any of the Outstanding Bonds, Bonds and Additional Bonds remain outstanding and unpaid, it shall fix and maintain rates and collect charges for the facilities and services afforded by the System which will produce income and revenues sufficient at all times: (a) To pay all reasonable and necessary costs of operation, repairs, maintenance and insurance of the System; 4172f -26-