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2011/03/02 Council Agenda Packet
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2011/03/02 Council Agenda Packet
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Council Agenda Packet
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3/2/2011
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1 0 <br /> (c) Words importing persons shall include firms, associations,partnerships (including <br /> limited partnerships),trusts, corporations and other legal entities, including public bodies, as well <br /> as natural persons; <br /> (d) Any headings preceding the text of the several articles and Sections of this <br /> ordinance, and any table of contents or marginal notes appended to copies hereof, shall be solely <br /> for convenience of reference and shall not constitute a part of this ordinance, nor shall they affect <br /> its meaning, construction or effect; and <br /> (e) All references herein to "articles,""sections" and other subdivisions or clauses are <br /> to the corresponding articles, sections, subdivisions or clauses hereof. <br /> Section 2. Compliance with Parity Conditions The Council hereby finds and <br /> determines, as required by Section 11 of Ordinance No. 2607-02, Section 11 of Ordinance <br /> No. 2690-03, Section 9 of Ordinance No. 2870-05 and Section 10 of Ordinance No. 3123-09, as <br /> follows: <br /> (1) That the Bonds are being issued for the purpose of providing funds to acquire, <br /> construct, reconstruct, install, or replace equipment, facilities, additions, betterments, or other <br /> capital improvements to the System for which it is authorized by law to issue revenue bonds; <br /> (2) There is not now and there will not be, at the time of the issuance of Bonds, any <br /> deficiency in the Revenue Bond Fund or any accounts therein. <br /> (3) There are no assessments levied in any utility local improvement district to pay <br /> for additions and improvements to and extensions of the System which will be constructed from <br /> the proceeds of the Bonds. <br /> (4) The principal of and interest on the Bonds is payable out of the Revenue Bond <br /> Fund. <br /> 9210- P:\20287 CMW\20287 960 02/07/11 <br />
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