Ordinance 4113 - Laserfiche WebLink

The words "revenue available for debt service and P. U. D. No. 1 Payments" as used in subparagraph 3 above shall mean such en- gineer' s estimate of the net revenue to be derived by the City from customers actually added to the System from the end of said twenty- four-month period to the date of his certificate and from existing customers which will be connected to extensions of the System and to the improvements to be constructed out of the proceeds of sale of such Parity Bonds up to the time the construction of such extensions and improvements is completed, together with additional revenue to be derived by the City from a. Any special contracts entered into after said twenty-four-month period whereunder the City agrees to supply a certain customer or customers with water for certain fixed rates ; b . Any increase in water rates authorized by the City Council to become effective after said twenty-four-month period; c . Rates to be received by the City from present cus- tomers under water purchase contracts beyond the term of such contracts if it can be reasonably anticipated that there will be a continuity of water service beyond such contract term. B. Nothing herein contained shall prevent the City from issuing water revenue bonds or warrants (coupon or otherwise ) which are a charge upon the money in the Water System Fund junior and in- ferior to the payments required to be made out of such Fund into the 1965 Bond Redemption Fund and Reserve Account , or from issuing water revenue bonds to refund maturing water revenue bonds or coupon war- rants for the payment of which moneys are not otherwise available . Section 14 . The Bonds shall be in substantially the follow- ing form: 18.