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

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sum of $6000 each month until such account aggregates the sum of $500,000, and thereafter no additional funds shall be credited to such account except that when any money is paid out of such account payments into said ac- count shall be resumed and continued until such account has been restored to the aggregate a,mount of 500,000, such monthly amount to be inclusive of and $1 00 in addi- tion to the amount of the monthly credit required by Ordinance Number 25?4, adopted on June 2, 1955, referred to in the preamble hereof, and said maximum amount re- quired to be credited to said account being inclusive of and $1�7,200 in addition to the maximum credit re- quired by said Ordinance Number 257�. The moneys to the credit of such account shall be used for the payment of the cost of necessary repairs and replacements for the payment of which no other funds are available in order that said waterworks system may at all times be able to render efficient service. Each expenditure to be made from said Depreciation Account shall be made only after certification by a consulting engineer employed for that purpose that such expenditure is necessary to the con- tinued effective operation of the system. (d) Beginning not later than September 1, 1972, there shall be c�edited to the Bond and Interest Reserve Account the sum of $6500 each month, which said amount is inclusive of and $2000 in addition to the a.mount of the monthly credit required to be made to said account by the provisions of said Ordinance Number 257�, adopted on June 2, �955, referred to in the preamble hereof, and said monthly credits sh�ll continue until said ac- count aggre�ates either the sum of $833,000 (such amount being inclusive of and $�73,000 in addition to the maxi- mum amount required to be credited to said .account by said Ordinance Number 257�), or that a.mount constituting the maximurn principal and interest requirements for any twelve month period on all the water revenue bonds of the C y which may be outstanding, whichever figure is th and thereafter no additional funds shall be cred ted to said account except that when any money is paid out thereby reducing the amount credited to said account, such credits to said account sha11 be resumed and continued until such account has been restored to the aggregate amount of $833,000 or that a,mount consti- tutin� the maximum principal and interest requirements �r any twelve month period on all the water revenue bonds of the C y whi h may be outsta�ding, whichever figure is th , provided, however, if the a,mount credited to said account is equivalent to the aggregate amourYt of all principal and interest requirements to maturity of all the then outstanding bonds no further funds shall be credited to said account and the funds credited to said account shall be used for the payment of the prin- cipal and interest of the then balance of the outstanding bonds as the principal and interest of said bonds mature, The moneys credited to said account shall be used to pay principal or interest of any of the water revenue bonds of said City at any time when there are insufficient funds available in the Bond and Interest Sinking Fund Account to pay such principal and interest as the same becomes due. (e) All moneys remainin� in the Water Fund of the City of Decatur each month, after crediting the required amount to the respective accounts hereinabove provided for, shall be credited to the Surplus Account and the funds in said account shall be held and used only for makin� improvements and extensions to the said waterworks -13-