Laserfiche WebLink
~i} the first Fiscal Year in which the City will <br />have scheduled payments of interest an or principal of <br />the series of Additional Bonds to be issued for the <br />payment of which provision has not been made as <br />indicated in the report of such Airport Consultant from <br />proceeds of such series of Additional Bonds, investment <br />income thereon or from other appropriated sources bother <br />than Net Revenues}; and, <br />tb} that the estimated Net Revenues far each Fiscal <br />Year are equal to at least 125 percent of the Debt Service <br />Requirement in each such Fiscal Year on all Outstanding <br />Bonds, including the series of Bands to be issued; or <br />6.3.2. the chief financial officer of the City <br />certifies that, for any consecutive 12 out of the most recent 24 <br />months, Net Revenues were equal to at least: <br />ta} 125 percent of the maximum Debt Service <br />Requirement for any future Fiscal Year on all Outstanding <br />Bonds plus <br />fib} 125 percent of the maximum Debt Service <br />Requirement for any future Fiscal Year on the Additional <br />Bonds proposed to be issued. <br />G.4. Completion Bonds, If the Additional Bonds <br />are being issued to pay~the cost ~~of~completing any project, and <br />the casts of completing that project were expected to be paid <br />from proceeds of a prior series of Bonds has indicated in the <br />Project Certificate far that prior series}, then in lieu of the <br />requirements of paragraph 6,3 of this Section and prior to the <br />issuance of such Additional Bonds the City may provide: <br />~a} a certificate from the engineer or architect <br />engaged by the City to design the project for which the <br />Additional Bands are to be issued, stating that such project <br />has not been materially changed in scope since its Project <br />Certificate was originally filed and setting forth the <br />aggregate cost of the project which, in the opinion of such <br />engineer or architect, has been or will be incurred; and <br />~ b} a certificate of the chief financial officer of <br />the City stating that: <br />~i} all amounts allocated to pay the costs of <br />the project in the Project Certificate for the prior <br />series of Bonds were used or are still available to be <br />used to pay costs of such project, <br />iii} the aggregate cost of that project has <br />indicated in the certificate described in clause ~a} of <br />Page 43 - ordinance <br />