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• <br /> cost and expense of acquiring and maintaining the said water system, <br /> as specified and set forth in this ordinance. There shall be set <br /> aside from the Averett water System Rund into the Averett Water <br /> System Special Revenue Bond fund during each year until the whole of <br /> said bonds shall have been paid, the sum of one hundred thousand <br /> (4100,000) dollars , out of sixty per cent of the gross revenue <br /> for said year, and the Averett Water System Special Revenue Bond <br /> fund shall be used solely for the payment of the principal and <br /> interest on the r;verett Water System Special Revenue Fund bonds <br /> herein authorized to be issued against the .ver. ett water system,as <br /> the same shall fall due, said bonds to be paid out of said fund <br /> in the order of their maturity, as set forth in section 3 of this <br /> ordinance. <br /> Section 10: That the said Special Revenue Fund bonds <br /> herein authorized, are, and will continue the first and direct lien <br /> against the sum of one hundred thousand ($100,000) d:alars, payable <br /> out of sixty per cent of the gross revenues of the said water system, <br /> yearly, prior to the lien of any future indebtedness which may be <br /> created by said city and payable out of the revenues of said water <br /> system; and it is expressly covenanted by the said city that any <br /> future indebtedness which may be created and payable out of the <br /> revenues of said water system, shall contitute a junior lien to <br /> the charge created by this ordinance. <br /> Section 11: That the city of Averett hereby irrevocably <br /> binds and obligates itself not to sell, lease or in any manner dis- <br /> pose of its said water system, including any additions or extensions <br /> that may be made thereto, until all the bonds issued against the <br /> revenues of said system, with interest thereon, shall have been paid <br /> in full, unless and until provision shall have been made for the. <br /> payment of all sai d bonds and interest in full. And the city of <br /> .tverett further covenants and agrees to and with the holders of said <br /> bonds, to maintain in good condition, and operate its said water <br />