O-1948-357 - Laserfiche WebLink

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.e e charge and colleot tor servioes rendered by said System, rates . suffioient to pay all ma1ntenance, depreoiation, replacement, betterment and 11'1terest charges, and tor Interest and Sinking F'und suffioient to pay the interest and prlncipal of sald bonds as such prinoipal and interest matures and accrues and any out- stand1ng indebtedness againat the system, as 1s required by Article 1113, Revised CIvil Statutes ot Texas, 1925, and amend- ments thereto. For the benefit of the 01'ig1ne.l purchaser, and for the benefit of any and all subsequent holders ot said bonds, coupons, or any part thereof, and in 8dd.ition to all other pro- visions and covenants in the laws of the State of Texas and 1n this ordinance, lt is expressly stipulatod: A. lU\1E~1 '!'he City shall fix and maintain re.tes Bnd coll~ct charges tor the faollities and sel'Vices afforded by the System whioh vill prOVide revenues sufficient at all timesl (1) To pay all operat1ons, maintenanoe, depreciation, replacements and betterment charges of the System. (2) To establish and maintaIn the Bond Fund. (3) To pay all outstandIng indebtedness against the System, other than bonds, as and when the same becomes due. Provided also, that no free service ot the System shall be allowed, and. should the City or any of its agencies or instrumentalities make use ot the services and facilities of the System, payment ot the reasonable value thereot ahall be made by the City out at funds derived '\l\ trom sources other than the revenues and income of the S78tem. B. USB 01' ~~I Tbe City v1l1 deposit 8S oollected all revenues derived from the operation ot the S7stem into 8 separate acoount (herein called the "System Fund") which shall be kept separate and apart from all other funds of the City. The System Fund shall be adll1j n18tered as tolloVSI