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Ordinance 1139-85
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Ordinance 1139-85
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4/3/2018 11:37:02 AM
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4/3/2018 11:36:47 AM
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Ordinances
Ordinance Number
1139-85
Date
6/5/1985
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Revenue Fund shall be made on or before the twentieth (20th) day <br /> of each month as follows: <br /> ( 1) Beginning with the month of June, 1985, and <br /> continuing through December, 1985, an amount which, with <br /> Assessment Income deposited and other moneys available <br /> therefor in the Debt Service Account, will be equal to at <br /> least one-seventh ( 1/7th) of the interest on the Bonds to <br /> become due and payable on January 1, 1986; <br /> (2 ) Beginning with the month of January, 1986, and con- <br /> tinuing for as long as any of the Bonds are outstanding and <br /> unpaid, an amount which, with Assessment Income deposited and <br /> other moneys available therefor in the Debt Service Account, <br /> will be equal to at least one-sixth ( 1/6th) of the interest <br /> to become due and payable on the next interest payment date <br /> on all of the Bonds then outstanding; <br /> (3 ) Beginning with the month of July, 1985, and <br /> continuing through June, 1986, an amount which, with <br /> Assessment Income deposited and other moneys available <br /> therefor in the Debt Service Account, will be equal to at <br /> least one-sixth ( 1/6th) of the principal of the Bonds <br /> (exclusive of Term Bonds) to become due and payable on the <br /> next principal payment date; and <br /> (4) Beginning with the month of July, 1986, and <br /> continuing for as long as any of the Bonds are outstanding <br /> and unpaid, an amount which, with Assessment Income deposited <br /> and other moneys available therefor in the Debt Service <br /> Account, will be equal to at least one-twelfth ( 1/12th) of <br /> the principal of the Bonds (exclusive of Term Bonds) to <br /> become due and payable on the next principal payment date. <br /> B. Sinking Fund Accounts. The 1985 Sinking Fund Account is <br /> hereby created in the Revenue Bond Fund for the purpose of <br /> -19- WMD202 85/06/10 <br />
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