Ordinance 3955 - Laserfiche WebLink

as set forth herein, for sewage disposal service, from the sale of by-products from the sewer treatment plant or from any other source of rental, use, or services rendered by such utility hall be credited to and paid into such fund . All engineering expenses incurred by the Engineering De- partment in planning, designing, supervising and admin .s- tering any work on the Everett Municipal Sewer System, and all expenses of_ _-,aintenance and operation of the Sewer System and Sewer Department, including but not limited to all improvements, additions, betterments , extensions, repairs , replacements, except when the same are financed by the issuance of bonds, and amounts required to pay and secure the payment of principal and interest on sewer revenue bonds and coupon warrants, shall be paid out of said fund . " (e) The term "Bond Redemption Fund" shall mean the Everett Sewer Revenue Bond Redemption Fund created by Section 7 of Ordinance No. 3768 for the purpose of paying and securing the payment of the principal of and interest on the Outstanding Parity Bonds , the Bonds and any Parity Revenue Bonds . (f) The term "Reserve Account" shall mean the account of that name created in the Bond Redemption Fund by Section 8 of Ordinance No. 3768 . (g) The term "Parity Revenue Bonds" shall mean any revenue bonds of the city other than the Outstanding Parity Bonds and the Bonds issued under an ordinance wherein the city pledges that the payments to be made out of the gross revenue of the System or Sewer Revenue Fund to pay and secure the payment of the principal of and interest on such Parity Revenue Bonds will be on a parity with the payments required by Ordinance No. 3768 and this ordinance to be made out of such gross revenue or Sewer Revenue Fund into such Bond Re- demption Fund and Reserve Account to pay and secure the payment of the principal of and interest on the Outstanding Parity Bonds and the Bonds, respectively. Section 2 . The Council of the City of Everett hereby finds and determines as required by Section 11 of Ordinance No. 3768 as follows: 3 ,.