O-1988-1595 - Laserfiche WebLink

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e e required to be made from such Fund. All such investments shall at all times be a part of the Fund from which the moneys used to acquire said investments shall have come. All earnings on such investments shall be credited to, and losses thereon charged against, such Fund~ provided, however, when the Bond Fund, the Reserve Fund or the Contingency Fund contains the full amount required at the time to be in such Fund, any earnings shall be deposited in the Revenue Fund. Notwithstanding any provision hereof to the contrary, any investment of moneys in the Bond Fund shall be made so as to mature or be .subject to redernption at the option of the owner or holder thereof on or prior to the date or dates on which money therefrorn will be required. All Funds provided for by this Resolution shall be secured in the manner and to the fullest extent required by law for the security of public funds, and such Funds shall be used only for the purposes and in the rnanner permitted or required by this Resolution. Section 8. ADDITIONAL BONDS. 8.01. Generally. The Authority expressly re- serves the right hereafter to issue additional parity bonds and other evidences of indebtedness now or hereafter autho- rized by the Legislature of Texas (collectively, "Additional Bondsll), and Additional Bonds, when issued, may be secured by and payable from a first lien on and pledge of the Net Revenues in the same manner and to the same extent as are the Bonds~ and the Bonds authorized herein and the Additional Bonds shall in all respects be of equal dignity. It is provided, however, that no installment or series of Additional Bonds shall be issued pursuant to this Section 8.01 unless: (a) A certificate is executed by the President of the Board and the General Manager of the Authority to the effect that no default. exists in connection with any of the covenants or requirements of this Resolution or the resolutions authorizing the issuance of all Additional Bonds then outstanding~ (b) A certificate is executed by the President of the Board and the General Manager of the Authority to the effect that the Bond Fund, the Reserve Fund and the Contingency Fund each contain the amount then required to be on deposit therein~ (c) At the time of the adoption of the resolution authorizing the issuance of Additional Bonds, the Net 022DESAO/024C04 -25-