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based on those bids, sufficient to complete the Golf <br />Course. To the extent that all or any portion of said <br />acquisition costs will not, pursuant to the foregoing <br />covenant, be paid or financed from the proceeds of the <br />Bonds, whether on a temporary or permanent basis, the <br />Council hereby finds that the City has other City funds <br />which are available and sufficient, and which are <br />hereby appropriated by the Council, for such purposes. <br />18. Additional Bonds. The City reserves the right to <br />issue additional bonds payable from the Debt Service Account and <br />secured by the covenants set forth in this Resolution on the <br />terms and conditions specified in this paragraph. <br />(a) Purpose of Bonds• Gross Revenues. Additional <br />bonds may be issued only to finance the acquisition and <br />betterment of improvements or additions to the Golf <br />Course, including necessary maintenance equipment, or <br />to refund bonds issued for such purposes. All revenues <br />derived from any such improvements or additions shall <br />be Gross Revenues of the Golf Course and subject to the <br />provisions of paragraph 16. <br />(b) Parity Lien Bonds. Such additional bonds may <br />be made payable from the Debt Service Account and the <br />Gross Revenues pledged thereto on a parity as to both <br />principal and interest with all other bonds payable <br />therefrom only if: <br />(1) in the last complete Fiscal Year of the <br />City immediately preceding the issuance of the <br />bonds, the amount of Gross Revenues deposited in <br />the Gross Revenue Account was: (A) equal to not <br />less than 125% of the total amount of principal <br />and interest to become due in any future Fiscal <br />Year on all Outstanding bonds payable from the <br />Debt Service Account and all additional bonds to <br />be issued, but excluding any bonds to be refunded <br />by such additional bonds; and (B) sufficient to <br />pay when due all costs and expenses payable from <br />the Operating Account in such last complete Fiscal <br />Year; provided that for purposes of this paragraph <br />the Gross Revenues for any Fiscal Year may be <br />increased to reflect any increase in the rates and <br />charges described in paragraph 17(a) which have <br />been put into effect prior to the issuance of any <br />additional bonds but were not in effect for all of <br />such last complete Fiscal year; and <br />Z«8Bz <br />25 <br />