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02-23-15 Agenda, Packet & Committee Meeting Notice
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02-23-15 Agenda, Packet & Committee Meeting Notice
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2/23/2015 3:02:23 PM
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2/19/2015 2:00:20 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
2/23/2015
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be received, is at least equal to 150% of the principal and interest requirements on <br />all outstanding EDIT Bonds, including the proposed issue of Additional Bonds, for <br />each respective year during the term of such outstanding EDIT Bonds. In <br />determining the other available revenues to be received in any future year, the <br />Certifier shall base his calculation on estimates, believed by the Certifier to be <br />reasonable, including without limitation estimates of investment earnings. For <br />purposes of this paragraph, "Other Available Revenues" shall mean, to the extent <br />such amounts have been set aside and designated for such purpose, amounts held in <br />any debt service reserve accounts for outstanding EDIT Bonds, other than the <br />proposed Additional Bonds. <br />SECTION 3. Severabilitv. If any section, paragraph or provision of this Ordinance shall <br />be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such <br />section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. <br />SECTION 4. Interpretation. Unless the context or law clearly requires otherwise, <br />references herein to statutes or other laws include the same as modified, supplemented or <br />superseded from time to time. <br />SECTION 5. Effectiveness. This Ordinance shall be in full force and effect from and after <br />its passage. <br />(THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK) <br />1 <br />� <br />i l a15 i <br />'Near <br />
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