O-1962-641 - Laserfiche WebLink

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~--_....... ....\ . . ~ become due. Provided, also, that no free service or services of the '-.-' -' -- ---~, .. ......;:;/ . .... /' . System shall be allowed, and should the City or any of its agencies or instrumentalities make use of the services, and facilities of the System, payment of a reasonable value thereof shall be made by the City out of funds derived from sources other than revenues and .in- come of the System. 10.02 - USE OF REVENUES: The City will deposit, as collected, all revenues derived from the operation of the System into a separate account (herein called the "System Fund"), which shall be kept '. separate andapaI1t from all other funds of the City. The System Fund shall be administered as follows: (a) Maintenance and Operation: From the moneys in the System Fund, the City shall pay the expenses of operation and rnain- tenance, including all salaries, labor, materials, interest, and such repairs and extensions, as in the judgment of the governing body of the City, are necessary to keep the plant or utility in operation and render adequate service to such City and the in- habitants thereof, or such as might be necessary to meet some ." physical accident or condition which would otherwise impair the original security. (b) Bond Fund: There is hereby created and established a special ~und ~or the payment o~ the principal o~ and interest on the Bonds, to be known as CITY OF LA PORTE WATERWORKS AND SEWER SYSTEM REVENUE BOND INTEREST AND SINKING FUND, hereinafter referred to as the "Bond Fund." After the payment of all expenses provided for in the next preceding paragraph, the City, on or before the lOth day of each month, beginning with the month of April, 1962, and " continuing until all the Bonds have been finally paid, both as to -14~