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ti <br /> water system (as hereinafter defined, the "Net Revenues") , <br /> provided that the amounts thereof so pledged to the payment of <br /> the Bonds shall not exceed amounts necessary, when combined <br /> with other funds available for such purposes in the Debt <br /> Service Account, to pay the principal of and interest on the <br /> Bonds, when due; (5) all collections of any ad valorem taxes <br /> hereafter levied for the payment of the Bonds; (6) all <br /> investment earnings on funds held in the Debt Service Account; <br /> and (7) any amounts received by the City upon termination of <br /> the Escrow Account. The foregoing funds are hereby pledged to <br /> the Debt Service Account, but only in such amounts and at such <br /> times as may be necessary, together with other available funds <br /> therein (and the same shall be used solely) , to pay the <br /> principal of and interest on the Bonds, when due. <br /> As used in this paragraph 15(ii) , the term Net Revenues <br /> means the gross revenues derived by the City from the <br /> operation of its municipal water system, including all charges <br /> for service, use, availability, and connection to said system, <br /> and all monies received from the sale of any facilities or <br /> equipment of said system or any by-products thereof, less all <br /> normal, reasonable, or current costs of owning, operating, and <br /> maintaining the system. If any payment of principal or <br /> interest on the Bonds shall become due when there are not <br /> sufficient funds in the Debt Service Account to pay the same, <br /> the City Finance Director shall pay such principal or interest <br /> from the general fund or other available fund of the City, and <br /> such fund shall be reimbursed for such advances from the <br /> proceeds of the Net Revenues or of any general ad valorem <br /> taxes hereafter levied for such purpose, when collected. The <br /> City hereby covenants that it will impose and collect charges <br /> for the service, use, and availability of and connection to <br /> the City's municipal water system, at the times and in the <br /> amounts required to produce Net Revenues adequate, together <br /> with other sources of funding available to the Debt Service <br /> Account, to pay all principal of and interest on the Bonds, <br /> when due. <br /> Nothing contained herein shall be deemed to preclude the City <br /> from making further pledges and appropriations of the Net Revenues <br /> of the City's municipal water system for the payment of other or <br /> additional obligations of the City, provided that it has first been <br /> determined that the estimated Net Revenues of the City's municipal <br /> water system will be sufficient, in addition to all other sources, <br /> for the payment of the Bonds and such additional obligations, and <br /> any such pledge and appropriation of said Net Revenues may be made <br /> superior or subordinate to, or on a parity with, the pledge and <br /> appropriation herein; and the Council hereby makes said finding <br /> with respect to issuing the Bonds on a parity with the Prior Bonds. <br /> No portion of the proceeds of the Bonds shall be used directly <br /> or indirectly to acquire higher yielding investments or to replace <br /> funds which were used directly or indirectly to acquire higher <br /> 238053 <br /> 17 <br />