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<br /> <br /> <br /> <br /> <br /> <br /> Revenues which is subordinate to the liens of the <br /> Outstanding Refunding Bonds, Additional Bonds, <br /> Prior Lien Bonds and Prior Lien Additional Bonds, <br /> when and in the amounts required by any ordinance <br /> authorizing the issuance of such subordinate lien <br /> bonds; and <br /> 6. to the Improvement and Contingency Fund, when and <br /> as required by Section 19 of this Ordinance. <br /> <br /> Section 16. INTEREST AND SINKING FUND REQUIREMENTS. <br /> (a) That there has been created and there shall be <br /> established and maintained, a separate account within the <br /> Interest and Sinking Fund to be known as the "Prior Lien <br /> Additional Bonds Account", for the sole benefit of such <br /> bonds including the Prior Lien Bonds authorized by this <br /> Ordinance. Deposits shall be made to the credit of said <br /> Account monthly, on or before the lOth day of each month <br /> while any Prior Lien Bonds or any Prior Lien Additional <br /> Bonds are outstanding, in amounts sufficient, together with <br /> any other funds on hand therein, to pay all of the interest <br /> or principal and interest coming due, or required to be <br /> redeemed prior to maturity pursuant to any mandatory redemp- <br /> tion requirements, on the next succeeding June 15 or Decem- <br /> ber 15, respectively, all as required by any ordinance <br /> authorizing any such Prior Lien Additional Bonds. Such <br /> deposits shall be made in approximately equal monthly <br /> installments to the extent practicable. <br /> (b) That there has been created and there shall be <br /> established and maintained a separate account within the <br /> Interest and Sinking Fund to be known as the "Bonds and <br /> Additional Bonds Account", for the sole benefit of such <br /> bonds being the Outstanding Refunding Bonds. On or before <br /> July 10, 1983, and monthly, on or before the lOth day of <br /> each month thereafter, while any Bonds or Additional Bonds <br /> are outstandinq, deposits shall be made to the credit of <br /> said Account in amounts sufficient, together with any other <br /> funds on hand therein, to pay the interest or principal and <br /> interest cominq due, or required to be redeemed prior to <br /> maturity pursuant to the mandatory redemption requirements <br /> for the Outstanding Refunding Bonds, Bonds and Additional <br /> Bonds, on the next succeeding June 15 or December 15, <br /> respectively, all as required by this Ordinance and any <br /> ordinances authorizing any Additional Bonds. It is specifi- <br /> cally ordained that such deposits shall be sufficient to <br /> provide the funds necessary to redeem prior to maturity the <br /> principal amounts of the Bonds, respectively, when required <br /> to be redeemed pursuant to the mandatory redemption require- <br /> ment set forth on the faces of the Bonds and in the Form of <br /> Bonds, if any. Such deposits shall be made in approximately <br /> equal monthly installments to the extent practicable. <br /> 28 <br />