1258 ORD PROVIDING FOR ISSUANCE OF COP WATERWORKS AND SEWER IMPROVEMENT AND EXTENSION REVENUE BONDS SERIES 1952

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_ _ . I 13. (~,VEtirliE FUIJ1.)) A11 revenues of every naturre re- ceived thrcugl-i the operation of the S,yst en, sha,ll be deposited frorr: day to daZT, as collected, into the Revenue Fund, and the reasonable and proper ex- penses of operatirig and raaintaininr the S,yster:, including sc.].ari.es, labor and materials sha71 be paid therefrom upon a;:>proval of the Ovity Council, The ` City Treasurer shall not n?ake any disbursernent from said Furd for repa.irs in : excess of 0250.00 or for extensions, except pursuant to a resolution adopted by Lhe City t%our.cil declaring that it is the judgerwnt of the i.ity Couricil that such repa.irs or extensions are necessarf to keep the pl.ant or utility in operation and rerdex adequate service to the Cit,y and the inliubitanrt,s tiiereoi, or t hat such repairs or externions are ne cessary to :w.et scirte phSTsical accident or condi-t ion which wo l:.d otherwise impair tY:e ~orx~s and such resolution, in either ca.se, shall recite the facts and reasor.s for such judgnent. Certified copies cf such resolution shall be flzrnished without cost to rsondholders requestirig the sarne. Such resolution shall not be binding or oonclusive upon a-ny 3ondholderQ The rever.ues oi the System r,ot actually required to pa,y expo-nse5 and costs incurred as pericit+ed ty this aection shall be deposited, to the extent required, in the other furxls created by this or- ciimnce, each of which shall Yave priority t'r..ereto in the order in which they ; are treated i.n the follovn_ng sectic:as, 14. (IT1z`E~~EST ru,-li iZEDaiYTIOIV FUNU) On or before the 10th da,r of cach montr., beginning january lU, 1952 and contir.uing through `s ' September lU., 1952, t'_ne ',ity shall deposit in the Interest and :6'edemption Furrl an amount of r, one.y not less thar~ one-ninth of the riext installxnent o_~ principal and iiiterest ar.d b,~ginnink: Uctober 10, 1952, nand on o: before the lOth da;;T of each month thereafter, the "V'ity shali deposit izi the Interest and ' riedemption r'und an amoLu:t of ^:oriev not less than one-sixLh of the next semi- anriual installnient of interest and one-twelfth of the riext ;ziaturing principal, The arriour;t receivec, from tlie purchaser of the bonds a.s interes-t accrued thereon to the date of delivery, and the proceeds of the borids found rDt to be required far the completion of the waterworks ar.d sewer imprevements and extensions, shall also be placed in the lnterest ancl tiedemption Fund, which sha.ll re(ilce by such araount the sums which would otherwise be required to be pla.ced ir_to