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Ordinance 3946-23
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Ordinance 3946-23
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4/14/2023 1:23:36 PM
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4/14/2023 1:20:24 PM
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Ordinances
Ordinance Number
3946-23
Date
4/12/2023
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506242089.1 <br /> <br /> -21- <br /> <br />The City shall provide all equipment, connections and appurtenances together with all <br />work as may be incidental and necessary to complete the Projects. The Project facilities shall be <br />integrated into the System as required to provide a fully operational facility. <br /> The City may make such changes in or additions to the Projects or in the construction or <br />design of other facilities of the System as may be found necessary or desirable. Implementation <br />or completion of any specified improvement shall not be required if the Council determines that, <br />due to substantially changed circumstances, it has become advisable or impractical. If the <br />Projects have either been completed, or its completion duly provided for, or their completion <br />found to be impractical, the City may apply the Bond proceeds or any portion thereof to other <br />improvements to the System, as the Council in its discretion shall determine. In the event that <br />the proceed of sale of the Bonds, plus any other moneys of the City legally available, are <br />insufficient to accomplish all of the Projects provided by this section, the City shall use the <br />available funds for paying the cost of those improvements for which the Bonds were approved, <br />deemed by the Council most necessary and to the best interest of the City. <br /> The City shall acquire by purchase, lease or condemnation, all property, both real and <br />personal, or any interest therein, or rights-of-way and easements that may be found necessary to <br />acquire, construct and install the Projects. <br /> (b) Bonds. For the purpose of paying costs of the Projects, funding the Reserve <br />Requirement, if any, or purchasing a Surety Bond as Qualified Insurance to meet the Reserve <br />Requirement and paying a proportionate share of the costs of issuance related thereto, the City <br />shall issue its Improvement Bonds. For the purpose of refunding the Refunded Bonds, funding <br />the Reserve Requirement, if any, or purchasing a Surety Bond as Qualified Insurance to meet the <br />Reserve Requirement and paying the costs of issuance related thereto, the City shall issue its
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