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Section -1 of this ordinance.
<br /> Section 3; That it is proposed that the said city of
<br /> Averett, for the purpose of providing funds for the payment for the
<br /> system or plan proposed as set forth in Section 1 of this ordinance,
<br /> shall issue special water revenue fund bonds in the sum .of one mill
<br /> ion one hundred thousand ($1,100,000) dollars , bearing interest at a
<br /> rate not exceeding six per cent per annum, payable semi-annually,
<br /> payable by the said city of . verett setting aside annually- the sum
<br /> of one hundred thousand (4100,000) dollars out of sixty per cent of
<br /> the gross revenues of said water system, which said sum out of said
<br /> proportion of the gross revenues is to be set aside and obligated
<br /> for the payment of the principal and interest of said special water
<br /> revenue fund bonds, said bonds maturing as follows;
<br /> onds numbered 1 to 140 inclusive, aggregating the principal sum
<br /> of $70,000, maturing six years from date.
<br /> ✓✓✓✓✓✓ Bonds numbered 141 to 280 inclusive, aggregating the principal sum
<br /> ,/ of $70,000, maturing seven years from date.
<br /> Bonds numbered 281 to 420 inclusive, aggregating the principal sum
<br /> of $70,000, maturing eTEEt years from date.
<br /> Bonds numbered 421 to 560 inclusive, aggregating the principal sum
<br /> of $70,000, mate 3ng nee years from date.
<br /> Bonds numbered 561 to700 inclusive, aggregating the principal sum
<br /> of $70,000, matung ten years from date.
<br /> Bcnds numbered 701 to850 inclusive, aggregating the principal sum
<br /> of $75 ,000, maturng eleven years from date.
<br /> Bonds numbered85l to 980 inclusive, aggregating the principal sum
<br /> of $65 ,000, maturing twWTve years from date.
<br /> Bonds numbered 981 to 1110 inclusive, aggregating the principal sum of
<br /> 65 ,000, maturing thirteen years from date.
<br /> Bonds numbelred 1111 to 1240 inclusive, aggregating the principal sum
<br /> of $ 65 ,000,. maturing fourteen years from date.
<br /> Bonds numbered1241 to1370 inclusive, aggregating the principal sum
<br /> of $ 65,000, maturing fifteen years from date.
<br /> Bonds numbered 1371 to 1510 inclusive, aggregating the principal sum.
<br /> of $ 70,000, matur ng sixteen years from date.
<br /> Bonds numbered 1511 to 1650, inclusive, aggregating the principal sum
<br /> of $ 70,000, matur ng seventeen years from date.
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