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CO Section 12 . So long as any Series 2001 Bonds are ® outstanding under the provisions of this Ordinance, the City shall not issue or attempt to issue any bonds claimed to be entitled to a priority of lien on System Revenues over the lien securing the Series 2001 Bonds . The City reserves the right to issue Additional Bonds to finance or refinance the cost of constructing any future extensions, betterments or improvements to the System, but the City shall not authorize or issue any such Additional Bonds ranking on a parity with the outstanding Bonds unless and until there shall have been procured and filed with the Trustee a statement by an independent certified public accountant not in the regular employ of the City reciting the opinion, based upon necessary investigation, that Net Revenues for the fiscal year immediately preceding the fiscal year in which it is proposed to issue such Additional Bonds shall equal not less than 120% of the maximum annual principal and interest requirements on all the then outstanding Bonds payable from System Revenues and the Additional Bonds then proposed to be issued. For the purposes of the computation required by this paragraph, additional amounts may be added to the Net Revenues of the completed fiscal year immediately preceding the issuance of Additional Bonds, as follows : If, prior to the issuance of the Additional Bonds and subsequent to the first day of such preceding fiscal year, the City shall have increased its rates or charges imposed for services of the System there may be added to the Net Revenues of such fiscal year the additional Net Revenues which would have been received from the operation of the System during such fiscal year had such increase been in effect throughout such fiscal year, as reflected by a certificate of a duly qualified consulting engineer not in the regular employ of the City and approved by the Trustee. Section 13 . When the Series 2001 Bonds have been executed and the seal of the City impressed as herein provided, they shall be delivered to the Trustee, and the Trustee shall authenticate them and deliver them to the Underwriter upon payment in cash of the purchase price of $3 , 394 , 637 . 95 plus accrued interest to the date of delivery ( "total sale proceeds") plus funds provided by the Commission. The Trustee shall disburse such funds as set forth in detail in a letter of delivery instructions and delivered to the Trustee as follows : (1) The Trustee shall deposit the amount of the accrued interest in the Bond Fund. (2) The Trustee shall deposit into a special trust account or shall transmit to the trustee for the 1995 Bonds the amount necessary to provide for the discharge of the 1995 Bonds . ® 15