Approving and Authorizing a lease for construction and equipping of a new public works service center

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~ a percent (10%) of the proceeds of the Bonds, within the meaning of Section 148(d) of the Internal Revenue Code of 1986, as amended (the "Debt Service Reserve Requirement"), and thereafter no deposit shall be made into the COIT Reserve Fund so long as there shall be on deposit therein an amount equal to the Debt Service Reserve Requirement. (c) COIT Excess Fund. Any remaining COIT Revenues distributed to the City pursuant to the Act shall be deemed excess funds and shall be deposited in the COIT Excess Fund for appropriation and use as permitted by law. In the event of any deficiency at any time in the (i) COIT Obligations Fund for the purposes of paying the rentals on leases or interest on or principal of bonds, which by their terms are payable from COIT Revenues or the (ii) COIT Reserve Fund for purposes of maintaining in said fund the Debt Service Reserve Requirement with respect to bonds -which contain such a requirement, funds may be withdrawn from the COIT Excess Fund for deposit into said COIT Obligations Fund or COIT Reserve Fund in the amount of such deficiency. All moneys in said funds shall be segregated and kept separate and apart from all other funds of the City and shall be deposited in lawful depositories of the City and continuously held and secured or invested as provided by law. Interest earned in each such fund shall be credited to such fund except that the amount of interest earned on the COIT Reserve Fund when added to the amount on deposit in the COIT Reserve Fund shall not exceed the Debt Service Reserve Requirement, and any such excess shall be deposited into the COIT Excess Fund. 9. The City reserves the right to enter into additional leases or authorize and issue bonds, payable out of its COIT Revenues, ranking on a parity with the rentals payable under the Lease, for the purpose of financing the cost of additional projects (the "Parity Obligations"). The authorization and issuance of Parity Obligations shall be subject to the following conditions precedent: (a) Rental payments under all leases and the principal of and interest on all bonds which are, respectively, in accordance with their terms, payable from COIT Revenues shall have been paid in accordance with their terms. (b) All required deposits into the COIT Obligations Fund and the COIT Reserve Fund shall have been made in accordance with the provisions of this Ordinance. (c) Either: (1) the COIT Revenues distributed to the City pursuant to the Act in the fiscal year immediately preceding the entering into or issuance of any such Parity Obligations shall be not less than one hundred thirty-five percent (135%) of the maximum annual interest and principal requirements of all the then outstanding obligations, including without limitation the Lease, payable from amounts that the City receives from COIT Revenues and the additional Parity Obligations; or (2) the COIT Revenues distributed to the City pursuant to the Act for the first full fiscal year immediately succeeding the issuance of any such Parity Obligations shall be projected by a certified public accountant to be at least equal to one hundred thirty-five percent (135%) of the total of the maximum annual rentals ::oDMn~cDOCS~ssDOCS~~ss9o6~z - 4 -