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-14- <br />accordance with the 2017 Installment Purchase Contract does not decrease below 1.00 times <br />annual Debt Service on the Bonds and Parity Obligations, and Maintenance and Operation <br />Costs of the Enterprise and, within 120 days after the date such violation is discovered, the City <br />hires an Independent Municipal Finance Consultant to review the revenues and expenses of the <br />Enterprise and abides by such consultant’s recommendations to revise the schedule of rates, <br />fees and charges and to revise any Maintenance and Operation Costs of the Enterprise insofar <br />as practicable and to take such other actions as are necessary so as to produce Net Revenues to <br />cure such violation for future compliance; provided, however, that if the City does not cure <br />such violation within twelve (12) months succeeding the date such violation is discovered, an <br />Event of Default shall be deemed to have occurred under the 2017 Installment Purchase <br />Contract. <br /> <br />Additional Debt <br /> <br />No Senior Obligations Payable from Net Revenues. So long as any Bonds are Outstanding, <br />the City may not issue or incur any obligations payable from Net Revenues or the Revenue <br />Fund senior or superior to the 2017 Installment Payments and interest thereon. <br /> <br />Additional Bonds. In addition to the Bonds, the Authority may, by Supplemental <br />Indenture, issue one or more series of Additional Bonds secured by Revenues on a parity with <br />the Bonds, and may issue and deliver such Additional Bonds in such principal amount as shall <br />be determined by the Authority, but only upon compliance by the Authority with the following <br />specific conditions, among others: <br /> <br />(a) Supplemental Indenture. The Authority and the Trustee shall have executed <br />a Supplemental Indenture which (i) sets forth the terms and provisions of such <br />Additional Bonds, including the establishment of such funds and accounts, which may <br />be separate and apart from the funds and accounts established under the Indenture for <br />the Bonds, as shall be necessary or appropriate, and (ii) requires that prior to the <br />delivery of such Additional Bonds the reserve requirement with respect to such <br />Additional Bonds, if any, shall be on deposit in a reserve fund established under such <br />Supplemental Indenture. <br /> <br />(b) Payment Dates. The scheduled principal and interest payable with respect to <br />such Additional Bonds shall be payable only on Interest Payment Dates applicable to the <br />Bonds. <br /> <br />(c) Amendment of Installment Purchase Contract. The 2017 Installment <br />Purchase Contract shall have been amended, if necessary, to (i) increase or adjust the <br />2017 Installment Payments due and payable on each Installment Payment Date to an <br />amount sufficient to pay the principal, premium (if any) and interest payable with <br />respect to all Outstanding Bonds, including all Additional Bonds as and when, if any, <br />the same mature or become due and payable, and (ii) make such other revisions to the <br />2017 Installment Purchase Contract as are necessitated by the issuance of such <br />Additional Bonds (provided, however, that such other revisions shall not prejudice the <br />rights of the Owners of Outstanding Bonds as granted them under the terms of this <br />Indenture). <br /> <br />(d) No Default of Authority. The Trustee shall have received a Certificate of the <br />Authority that no Event of Default under the Indenture relating to the Authority exists <br />(or any event which, once all notice or grace periods have passed, would constitute an <br />Event of Default). <br /> <br />8.C. - Page 39