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I <br /> • <br /> 1 <br /> Section 3. That there be and is hereby created a special fund <br /> of the City to be known as the Service Facility Operating and <br /> Debt Redemption Fund into which shall be deposited all rentals <br /> accrued from rentals derived from the use of said property. <br /> All liabilities of an operating and maintenance nature as well <br /> as debt service shall be paid directly from this fund under <br /> the standard BARS operating chart of accounts, including a re- <br /> serve account for debt redemption. <br /> Section 4. That the City Treasurer be authorized to make semi- <br /> annual interest payments and be further authorized to negotiate <br /> annual interest rates on a quarterly basis not to exceed, with- <br /> out Council approval, the rate of 7% per annum. <br /> Section 5. That a User Committee be formed by the Building Faci- <br /> lities Director to negotiate those rentals and operating and main- <br /> tenance costs on an annual basis. <br /> Section 6. That Ordinances 156-71 and 318-74 are hereby repealed. <br /> Section 7. That an emergency is hereby declared to exist, and <br /> this ordinance shall take effect upon becoming valid. <br /> 62.1P-41( <br /> MAYOR <br /> ATTEST: <br /> 1 )77: \{ <br /> City Clerk . <br /> Passed: / (1 C� • cF /l 7 <br /> Valid: ,5 (p ( 9 7 (/ <br /> Published: 9 ( 7 V <br />