Ordinance 2058 - Laserfiche WebLink

o 110.1663 and 1728 of the City of '',verett for the payment Of principal iu interest on pry issue of ,'.viter :evenue O'und Bonds in the sum of :'71,025,000,00 4 until all of asid bonds and the interest thereon have been pad in run and it if:), expressly covonented by 1 the said City of ;,',ve.rett that any future indebtodneos .-41.1ch nay be 2 created and payola out of the revenues of naid water system from 3 date of i sous of avid bonds until all of the b onds of thinssue„ 4 together with interest tl-olreon shall have been paid in funtsbail 5 eonstitute, a junior charge to the *barges created by this issue 6 ef bonds, 7 rile said T- trerott horeby irrevocably binds and 8 obligates itself not to nell, lease or in any manner disuose of 9 its eatd water system, including, any and all additions, bettermoto, 10 extensions and improvements that may be made thereto until all of 11 the bards insued against the revenuen of said system with the 12 intoreot thereon shall havo been paid in full, wages and until 13 provis, omi shall have been owade for t.Lo ot.voiont of J.l of f3aid 14 bonds and the interest in full and the sad ity of :verett 15 further covenante and agrees to and with the holders of said 16 bOrdS to maintain in good condition and to operate its void 17 water mister,. and to maintain its rates and chaMee for rater no 18 that the poyments herein provide_ for, out of the gross revenuer3 19 of mad systoto & al be sufficient Lo make the paymente into 20 ,zia funds hereinabove mentioned , no that nold funds shall be 21 utfIcient to pa,y said bonds an they nature end the interest 22 thereon an it accrues. 23 It in hereby declared that 'sold bonds are inoued 24 pureuan t to and in rtrIct c otopli oriou 4th tho oneti tuti on and 28 the lawn Of the 3tate of ,rasc.A.n,7,,ten and of the alai-ter of the 26 City of ':tverett and the ordinances of sold :;Ity of -'Verett 27 erred to in this bond. and printed hereon ram that all acts, 28 29 30 31