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 �re hereinafter mentioned all 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 succeedin� month, which shall include, without limiting the gener- ality of the foregoing, salaries, wages, cost o� materials and supplies, purchase of power, including one-twelYth of ar�y insurance premiums, and all other incidental eacpenses. (b) There shail be credited each month to the Bond and Interest Sinking Fund Account an amount equal to one- aixth of the interest becoming 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 pavment date, and be- �inning not later than September 1, ��7'�;��and monthly thereafter, there ahall be credited to said account an �mount equal to one-twelf'th of the a�gre�ate yearly amount of principal due and payable on all outstanding bonds on the next succeeding principal maturity date, including the amount required to pay the principal on the outstanding bonds issued pursuant to the terms of this ordinance, until there shall be accumulated in the Bond_.�.nd-�-�z�.t est Sinking Fun ecount on �or before th@ dJy_..i=1rP�Prl i nr� -.-s......_'..�...�,�. such curren�'"`ma�"�ri�""�a�o�`"�n�r� - or r ci �unt sufficient to pay t e sa d in- erest �r rrip�iDB�. or o , o a on�s issue�`"�re- under and heretofore issued or that may hereafter be issued pursua,nt 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 sufficient 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 oP 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 interest or principal, or both, oP said bonds, together with fiscal agency fees, sha.11 be transmitted to the Payin� Agent not less than 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 1, 1972, the amount of the monthly credit shall be camputed at the rate of one- third of the a,mount of interest which will be due and pay�ble on September 1, 1972 on the bonds herein authQrized. (c) Beginning not later than September 1, 1972, there shall be credited to the Depreciation Account the -12-