Ordinance 3768 - Laserfiche WebLink

• • NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1 . As used in this ordinance the following words shall have the following meanings : (a) The word "System" shall mean the existing sewerage system of the city as the same will be added to, improved and ex- tended as authorized and provided in this ordinance and as the same may be added to, improved and extended for as long as any of the Bonds and any Parity Revenue Bonds are outstanding, which additions, improvements and extensions shall include the water system of the city should such sewerage system ever be combined with such water system. (b) The word "Bonds" shall mean the $2, 700,000 of sewer revenue bonds of the city issued pursuant to and for the purposes provided in this ordinance. (c) The words "Parity Revenue Bonds" shall mean any reve- nue bonds of the city, other than the Bonds, issued under an ordi- nance wherein the city pledges that the payments to be made out of the gross revenue of the System or the Sewer Revenue Fund of the city into the Bond Redemption Fund and Reserve Account therein to pay and secure the payment of the principal of and interest on such revenue bonds will be on a parity with the payments required by this ordinance to be made out of such gross revenue or Sewer Revenue Fund into such Bond Redemption Fund and Reserve Account to pay and secure the pay- ment of the principal of and interest on the Bonds . (d) The words "Sewer Revenue Fund" shall mean that certain fund of the city of that name created by Section 5 of Ordinance No. 3731, which section provides as follows : "Section 5 . CREATION OF SEWER REVENUE FUND. That there be and is hereby created a special fund of the city to be known as the 'Sewer Revenue Fund' . Any and all con- nection charges and revenues received for the use of sewers 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 -2-