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Ordinance 536-78
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Ordinance 536-78
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10/3/2018 10:00:13 AM
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10/3/2018 10:00:02 AM
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Ordinances
Ordinance Number
536-78
Date
8/9/1978
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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 /> any sinking fund or bond retirement account hereafter created <br /> for the payment of the principal of Parity Bonds which are <br /> Term Bonds; <br /> Sixth, to make all payments required to be made into <br /> the Reserve Account created to secure the payment of the <br /> Parity Bonds; <br /> Seventh, to make all payments required to be made into <br /> any revenue bond redemption fund or revenue warrant redemp- <br /> tion fund and debt service account or reserve account created <br /> to pay and secure the payment of the principal of and interest <br /> on any revenue bonds or revenue warrants of the City having <br /> a lien upon the Revenue of the System junior and inferior to <br /> the lien thereon for the payment of the principal of and <br /> interest on Parity Bonds; <br /> Eighth, to retire by redemption or purchase in the open <br /> market any outstanding revenue bonds or revenue warrants of <br /> the City, to make necessary additions, betterments, improve- <br /> ments and repairs to or extensions and replacements of the <br /> System, or for any other lawful City purposes. <br /> Section 7 . Payments into Revenue Bond Fund. A special fund <br /> of the City to be known as the "1978 Water and Sewer Revenue Bond <br /> Fund" (the "Revenue Bond Fund" ) is hereby created in the office <br /> of the Treasurer of the City for the purpose of paying and secur- <br /> ing the payment of the Bonds and any future Parity Bonds. <br /> A. Payments into Debt Service Account. A Debt Service <br /> Account is hereby created in the Revenue Bond Fund for the pur- <br /> pose of paying the principal of, premium if any, and interest on <br /> the Bonds and any future Parity Bonds. <br /> -14- <br />
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