5675 AUTHORIZING AND PROVIDING FOR THE ISSUE OF $8,000,000 WATER REVENUE BONDS

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. �� . any further official action or direction, and in the order in which said accounts axe hereinaPter mentioned a11 moneys held in the Water Fund, in accordance with the following provisions : (a) There shall be credited to the Operation and Maintenance Account an amount sufficient to pay the reasonsble expenses of operation, maintenance and re- pair of said waterworks system for the next succeeding month, which shall include, without limiting the gener- ality of the foregoing, salaries, wages, cost of materials and supplies, purchase of power, including one-twelfth of any insura,nce premiums, and all other incidental expenses. (b) There shall be credited each month to the Bond and Interest Sinking F`und Account an axnount equal to one- sixth of the interest becomin� due and payable on all outstanding bonds authorized hereunder, and in addition all other amounts that may now or hereafter be required to be set aside to pay interest on the water revenue bonds of said City heretofore issued and outstanding on the next succeeding interest payment date, and be- ginning not later than September 1, 1972, and monthly thereafter, there shall be credited to said account an �mount equal to one-twelPth of the aggregate yearly amount of principal due and payable on all outstanding bonds on the next succeeding principal maturity date, including the a,mount required to pay the principal on the outstanding bonds issued pursuant to the terms of this ordinance, until there shall be accwnulated in the Bond and Interest Sinking Fund Account on or before the day preceding such current maturity date of interest - or principal an amount sufficient to pay the said in- terest or principal, or both, of all bonds issued here- under and heretofore issued or that may hereafter be issued pursuant to the terms of this ordinance and m�turing by their terms on such current maturity date. Payments into the Bond and Interest Account may be ' suspended in any fiscal year at such time as there shall be suPficient money in said account to pay principal and interest on all outstanding bonds for the ensuing twelve months, but such payments shall again be resumed at the beginning of the new fiscal year. All moneys in said account shall be used only for the purpose of payin� interest and principal on the bonds of said City which are payable by their terms only from such revenues as the same shall become due. Funds sufficient to pay intereat or principal, or both, of sa,id bonds, together with fiscal agency fees, sha,ll be transmitted to the Payin� Agent not less tha.n fifteen days prior to each current maturity date of either principal or interest, or both. For the period from the date of the bonds herein authorized up to September l, 1972, the amount of the monthly credit shall be computed at the rate of one- third of the a,mount of interest which will be due and pay33ble on September 1, 1972 on the bonds herein authflrized. (c) Beginning not later than September 1, 1972, there shall be credited to the Depreciation Account the -12-