Ordinance 4113 - Laserfiche WebLink

• a. The word "System" shall mean the existing water supply and distribution system of the City as the same will be added to and improved out of the proceeds of the sale of the Bonds and as the same shall be added to, improved and extended for as long as any of the Bonds and any Parity Bonds are outstanding. b . The words "Water System Fund" shall mean that special fund of the City created by Section 9 of Ordinance No. 1663. c. The words "Prior Lien Bonds" shall mean the outstanding 6 g otry $365,000 principal amount of water revenue bonds of the City issued 3,`i 70, e10-0. under date of July 1, 1952, and the outstanding $,3.,}95,000 principal amount of water revenue refunding bonds of the City issued under date of April 1, 1963. The Prior Lien Bonds are the only water revenue bonds outstanding at this time for the payment of the principal of and in- terest on which the money in the Water System Fund has been pledged. d. The words "Prior Lien Bond Redemption Fund" shall mean the special funds of the City known as the "Everett Special Water Revenue Bond Redemption Fund No . 7" created by Ordinance No. 3380 of the City and the "Everett 1963 Water Revenue Refunding Bond Redemption Fund" created by Ordinance No. 3945 of the City for the payment of the Prior Lien Bonds respectively, and shall include the reserve accounts created in each such fund by such ordinances . e . The word "Bonds" shall mean the $12 ,000,000 of water revenue bonds of the City issued pursuant to this ordinance for the purposes fixed in the Plan and System Ordinances . f. The words "1965 Bond Redemption Fund" shall mean the special fund of the City created in this ordinance for the purpose of paying the principal of, premium if any, and interest on the Bonds and of and on any Parity Bonds . g. The words "Reserve Account" shall mean the account of that 2.