Ordinance 4113 - Laserfiche WebLink

• having a lien upon the money in the Water System Fund junior and inferior to the Bonds and any Parity Bonds . g. To the Capital Improvement Fund as required in Section 8 of Ordinance No. 3633 of the City until October 1 , 1969, at which time such Fund may be abolished. h. For any money in lieu of taxes or contributions to the General Fund of the City which it may require to be made out of the Water System Fund; provided, however, that normal and proper payments made for services performed for the Water Department of the City by other City departments and the employees thereof shall be considered as a normal cost of maintenance and operation of the System. i . To retire by redemption or purchase water revenue bonds of the City outstanding as authorized in the various ordinances of the City authorizing the issuance of the same , or to make necessary addi- tions , betterments , improvements and repairs to or extensions and replacements of the System, or for any other proper City purposes connected with the operation of the System for which such money may be lawfully used. In the event the City ever issues any water revenue bonds for the purpose of refunding any part or all of the issues of the Prior Lien Bonds , the Bonds and any Parity Bonds , such refunding bonds shall retain the same lien status on the money in the Water System Fund as the lien status of the bonds so refunded. Section 11 . The City hereby covenants and agrees with the owner and holder of each of the Bonds for as long as any of the same remain outstanding as follows . a. That it will establish, maintain and collect rates and charges for water supplied for as long as any of the Prior Lien Bonds , the Bonds and any Parity Bonds are outstanding and for as long as the P . U. D. No . 1 Payments are required to be made , that will make 13.