Laserfiche WebLink
• <br /> the first succeeding date on which they may be called, plus <br /> accrued interest. <br /> Section 5 . Priority of Payments from Water and Sewer <br /> Revenue Fund. The Revenue Fund has heretofore been established <br /> in the office of the Treasurer of the City into which shall be <br /> deposited the Revenue of the System as collected. The Revenue <br /> Fund shall be held separate and apart from all other funds and <br /> accounts of the City and the Revenue of the System deposited in <br /> such Fund shall be used only for the following purposes and in <br /> the following order of priority: <br /> First, to pay the Costs of Maintenance and Operation of <br /> the System; <br /> Second, to pay the principal of and interest on the <br /> Refunded Bonds, if any payments should be required, in the <br /> order of priority and from the sources provided in the <br /> ordinances authorizing the issuance of such Refunded Bonds; <br /> Third, to pay the interest on any Parity Bonds; <br /> Fourth, to pay the principal of any Parity Bonds; <br /> Fifth, to make all payments required to be made into <br /> the 2007 Sinking Fund Account to make the scheduled <br /> amortization payment described in paragraph B of Section 6 <br /> of this ordinance and to make all payments which may <br /> hereafter be required to be made into any future Sinking <br /> Fund Account under any schedule for the amortization of <br /> Future Parity Term Bonds or for the purchase of "Government <br /> obligations, " as such obligations are now or hereafter <br /> defined in Ch. 39 . 53 RCW, sufficient to accomplish such <br /> amortization; <br /> Sixth, to make all payments required to be made into <br /> the Reserve Account created to secure the payment of Parity <br /> Bonds; <br /> -9- <br />