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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 /> 244882 <br /> 25 <br />