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2013/01/23 Council Agenda Packet
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2013/01/23 Council Agenda Packet
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Council Agenda Packet
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1/23/2013
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3 <br /> (h) Amendment of Notice Provisions. The foregoing notice provisions of this section, <br /> including but not limited to the information to be included in redemption notices and the persons <br /> designated to receive notices, may be amended by additions, deletions and changes to maintain <br /> compliance with duly promulgated regulations and recommendations regarding notices of <br /> redemption of municipal securities. <br /> Section 6. Revenue Fund; Priority of Payments from Revenue Fund; Coverage <br /> Stabilization Account. <br /> (a) Revenue Fund. A special fund of the City known as "Fund 401 Public Works — <br /> Utilities Fund, including subaccounts therein (the "Revenue Fund") has heretofore been <br /> established in the office of the Designated Representative into which shall be deposited the <br /> Revenue of the System as collected, except the interest earned and income derived from <br /> investments of money in the Revenue Bond Fund and the accounts therein. The Revenue Fund <br /> shall be held separate and apart from all other funds and accounts of the City. <br /> (b) Priority of Payments from the Revenue Fund. The Revenue of the System <br /> deposited in the Revenue Fund shall be used only for the following purposes and in the following <br /> order of priority: <br /> First,to pay the Costs of Maintenance and Operation; <br /> Second, to make all payments required to be made into the Debt Service Account to pay <br /> the interest on any Parity Bonds, including reimbursements to the issuer of a Credit Facility if the <br /> Credit Facility secures the payment of interest on Parity Bonds and the ordinance authorizing <br /> such Parity Bonds provides for such reimbursement; <br /> Third, to make all payments required to be made into the Debt Service Account to pay <br /> the principal of any Parity Bonds, including reimbursements to the issuer of a Credit Facility if <br /> - 9� P:\20287_CM\M20287_9RC 01/02/13 <br />
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