Laserfiche WebLink
undetaking is sufficient to pay the costs of operation and administration in- <br /> <br />cluding interest on bonds issued therefor and the post of insurance against loss <br /> <br />by injury to persons or property and an annual amount to be covered and paid into a sink- <br /> <br />ing fund sufficient to pat at or before maturity all bonds issued on account of said <br /> <br />undertaking including those now outstanding as well as those to be issued hereunder. <br /> <br />While the said bonds or any of them shall remain outstanding or <br /> <br />unpaid there shall be levied and collected from the users of City Water a Water <br /> <br />rate sufficient to provide for the payment of the principal and interest as the same <br /> <br />become due and payable. Should the revenues from the water works plant be in- <br /> <br />sufficient in any year to pay the cost of operation and administration of such plant <br /> <br />(including, interest on bonds issued therefor, and the cost of insurance against <br /> <br />loss by injuries to persons or property, and an annual amount to be covered and <br /> <br />paid into a sifting fund sufficient to pay at or before maturity all bonds Issued <br /> <br />on account of said undertaking, there shall be annually levied upon all the <br /> <br />taxable property of said city such taxes as may be necessary to provide for the payment <br /> <br />of the principal and interest of said bonds at maturity. <br /> <br />Aopted by the Council March 17, 1924. <br />Ayes, Brown, Morris and Joachim, Noes None. <br /> <br />Clerk Signature <br />President Signature <br />