|
Pao -e 19
<br />0
<br />(e) When the moneys held in the 1961 !,1,-3.terT-,7orks Revenue Bon"a'
<br />Fund, including the reserve for contin4-enc-es, shall be and remain
<br />'D -I-
<br />sufficient to pay the principal of--_�nd interest on all the bon, -:',,s
<br />then outs tandlin-0, and -the payin- agent's fees
<br />'D I.:) , the Treasurer shall
<br />not be obli,-P-6 to make any further?,ayments into the said 1961 TFater-
<br />xqor'.-\s 11evenue Bond Fund.
<br />iiioneys in the 1961 Wateri,7orks Revenue Bond Fu-nC-L
<br />shall be use( -_1 solely for the purpose of -)-yin- -,--he principal of
<br />and interest on the bonds of this issue an0l the p,:,,yin, ,;gent's fees
<br />CD �� :0
<br />ea:cept as herein s-,Deci_J_--ic,-,IIY ?,rovi6ed a surplus shall exist
<br />in the 1961 Waterworks Revenue Bond Fund over anc'l above the
<br />amount requires,
<br />for malking all -princiDal
<br />C, and interest payments on
<br />all out-standin,- bonds, and the paying agent's Nees, as the same be-
<br />come due and payable, and over and" above the reserve for contingencies,
<br />such surplus may be a),)Iied. to the -,3ayme-nt of the princi-Dal of and.
<br />interest on any bonds that may be caller' for redemption prior to
<br />maturity or for the construction of extensions, betterments and
<br />imi-orove-menL-s to the System, or for any other lawful municipal L3ur)ose.
<br />(C-) It shall be the duty of the Treasurer to withdraw
<br />from the 1961- 1,),7atervor'_,s Revenue Bond Fund It least t, --,n (10) days
<br />before the maturity date of any bon-.,. or interest coupon issue, here-
<br />uncier and to U'e--)os-j'_-C_ with the paying agent an amount equal to the
<br />amount of such bond or coupon for 'the sole i)ur-pose of:)ayin- -. the
<br />1 4D
<br />same, together with the fee,, and paying g agent's J no withdrawal of
<br />-L
<br />fun6s from said 1961 Waterx,,?orks ",evenue Bonct Fund shall be male for
<br />,any other purpose exce)t as otherwise authorized in -1-his ordinance.
<br />Such 6�eposit shall be at tree sole risk of the City and shall not.
<br />operate as a -payment of the bonds or coupons until so a -D -31 -ed.
<br />
|