O-1965-719 - Laserfiche WebLink

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..~ t t. . .. .- - .. . e Section 8. That, in addition to all other amounts re- by the ordinance above mentioned, authorizing the Outstand- " 'ng Bonds, there shall be deposited into the Interest and Sinking nd, created for the benefit of said Outstanding Bonds and all dditional Bonds, the following: (l) On or,before the lOth day of each month beginning with August 10, 1965 and continu- ing through June, 1975, deposit $1,215 per month; -- (2) On or before July lO, 1975', and on or before the 10th day of each mo~th thereafter to and including the month of June, 1979, an amount which is not less than $l,675 per month; and (3) On or before July 10, 197~"and on or before the 10th day of each month thereafter, until all the Bonds have been finally paid, both as to principa~ and interest, an amount which is not less thap $2,500 per month. Section 9. The amount to be accumulated and maintained 'n the Reserve Fund shall be increased by an amount equal to ot less than the average a~nual principal and interest require- this issue of Additional Bonds, and the monthlY,deposits' Reserve Fund shall be increased by an amount equal to ne-sixtieth (1/60th) of the increased amount to be accumulated, nd such increased paymepts shall be made upon the passage of his Ordinance and on the, lOth day of each month thereafter; t is provided, however, the Reserve Fund shall not be required t 'any time to exceed the average annual requirement for the ayment of principal of and interest on the outstanding Bonds and dditiona1 Bonds. _ ..__S_ect:iqn lO,.. .That, in addition to all other amounts equired by the ordinance authorizing the, Outstanding Bonds, here shall be deposited into the Contingency Fund" created for