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Section 10. After making the payments into the ADFA Bond Fund required by <br /> Section 9 hereof, there shall be paid from moneys in the Revenue Fund the Financing Fee to the <br /> • Authority. The Financing Fee shall be payable on each date interest on the bond is due and shall <br /> be calculated on the same basis as interest on the bond. The payment of the Financing Fee is <br /> expressly made subordinate to the payment of the principal of and interest on the bond. <br /> Section 11. The City shall assure that there will be no Private Business Use of <br /> the Improvements that will cause the bond to be a "private activity bond" within the meaning of <br /> Section 141 of the Internal Revenue Code of 1986, as amended. <br /> As used in this Section, "Private Business Use" means use directly or indirectly in <br /> a trade or business carried on by a natural person or in any activity carried on by a person other <br /> than a natural person, excluding, however, use by a state or local governmental unit and use as a <br /> member of the general public. <br /> Section 12. The principal and interest installments shall be prepayable prior to <br /> maturity as provided in the bond form in Section 5 hereof. <br /> Section 13. As long as the bond is outstanding, the City shall not issue or <br /> attempt to issue any bonds having or claimed to be entitled to a priority of lien on Revenues over <br /> the lien securing the bond, including any and all future extensions, betterments and <br /> improvements to the System except as provided in this Section. <br /> The City may issue additional revenue bonds having a priority on or on a parity <br /> • with the lien on Revenues in favor of the bond to finance or pay the cost of constructing <br /> extensions, betterments and improvements to the System or to refund outstanding System Bonds <br /> if there shall have been procured and filed with the City Clerk and the Bondholder a statement by <br /> a certified public accountant not in the regular employ of the City ("Accountant") reciting the <br /> opinion that (i) the Net Revenues (Net Revenues being gross Revenues less operation and <br /> maintenance expenses, but not including depreciation) for the fiscal year preceding the year in <br /> which such additional bonds are to be issued were not less than 110% of the maximum annual <br /> debt service requirements (including principal, interest and financing and administrative fees) on <br /> all outstanding System Bonds and the bonds then proposed to be issued or (ii) the Net Revenues <br /> for the fiscal year succeeding the year in which such additional bonds are to be issued are <br /> projected to be sufficient in amount, taking in consideration any enacted increase in Revenues, to <br /> be not less than 110% of the maximum annual debt service requirements (including principal, <br /> interest and financing and administrative fees) on all outstanding System Bonds and the bonds <br /> then proposed to be issued. <br /> The additional bonds, the issuance of which is restricted and conditioned by this <br /> Section, shall not be deemed to mean bonds the security and source of payment of which are <br /> subordinate and subject to the priority of the bond and such additional bonds may be issued <br /> without complying with the terms and conditions of this Section. <br /> 8 <br />