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<br />l;;j::;;': <br /> <br />bond reserve fund sufficient to provide for the accumulation therein of the increased reserve <br />requirement by not later than 60 months from the date of the issuance or such additional bonds. <br /> <br />The City also reserves the right to issue bonds, notes or other obligations secured in whole or in <br />part by liens on Net Revenues that are junior and subordinate to the liens on Net Revenues securing <br />payment of Prior Lien Bonds for any lawful pu,rpose, as well as revenue bonds secured by liens on and <br />pledges of revenues and proceeds derived from Special Projects. <br /> <br />Net Revenues Available for Debt Service <br /> <br />The following schedule sets forth the Net Revenues of the System for the Fiscal Years ended June <br />30, 1985, 1984 and 1983, and for the six months ended December 31, 1985, and was prepared by the <br />City Controller in conformity with the provisions of the City of Houston.s ordinances authorizing its <br />water revenue bonds. This Schedule, as it relates to annual periods, was derived from the Statements <br />of Revenues, Expenses and Changes in Fund Equity of the Water Revenue Fund which are presented <br />in a combining fonnat with the City's other Enterprise Funds in the City's Comprehensive Annual <br />Financial Reports for the respective Fiscal Years. This schedule should be read in conjunction with <br />Appendix A of this Official Statement. <br /> <br />6 <br />