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IV. THAT THE FINANCE COMMITTEE OF THE CITY BE AND IT IS HEREBY AUTHORIZED TO PREPARE AND DISPOSE OF THE ISSUE AS A WHOLE OR IN INSTALLMENTS, AT PAR OR MORE, ANY SALE TO BE RATIFIED AND APPROVED BY THE COUNCIL. V. THAT THE PROCEEDS OF THIS ENTIRE ISSUE OF SAID BONDS SHALL BE USED EXCLUSIVELY FOR IMPROVING AND INCREASING THE WATER SUPPLY OF SAID CITY AND THE ENTIRE PROCEEDS OF THE SALE OF SAID BONDS SHALL BE PLACED TO THE CREDIT OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE WHO SHALL DISBURSE THE SAME UPON PROPER WARRANTS FOR THE PURPOSES AFORESAID. VI. IT IS HEREBY DETERMINED THAT THE EARNINGS OF THE EXISTING WATER SUPPLY SYSTEM OF THE CITY OF CHARLOTTESVILLE WHICH IS TO BE IM- PROVED AND INCREASED WITH THE PROCEEDS OF SAID $875,000.00 WATER IM- PROVEMENT BONDS - SERIES OF 1949, ARE SUFFICIENT TO PAY FOR COST OF OPERATION AND ADMINISTRATION (INCLUDING INTEREST ON BONDS HERETOFORE ISSUED THEREFOR), AND THE COST OF INSURANCE AGAINST LOSS BY INJURY TO PERSONS OR PROPERTY 0 AND AN ANNUAL AMOUNT TO BE COVERED INTO A SINKING FUND SUFFICIENT TO PAY, AT OR BEFORE MATURITY, ALL BONDS HERETOFORE ISSUED ON ACCOUNT OF SAID UNDERTAKING, AND IT IS FURTHER DETERMINED THAT FOR A PERIOD OF FIVE YEARS FROM MARCH 24, 1949, SAID $875,000000 WATER IMPROVEMENT BONDS - SERIES OF 1949, BEING ISSUED PURSUANT TO THE PROVISIONS OF SECTION 127 (B) OF THE CONSTITUTION OF VIRGINIA, SHALL NOT BE INCLUDED IN DETERMINING THE LIMITATION OF THE POWER OF THE CITY OF CHARLOTTESVILLE TO INCUR INDEBTEDNESS. WHILE THE SAID BONDS OR ANY OF THEM SHALL REMAIN OUTSTANDING OR UNPAID, THERE SHALL BE LEVIED AND COLLECTED FROM THE USERS OF CITY WATER A WATER RATE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST AS THE SAME BECOMES DUE AND PAYABLE. SHOULD THE REVENUE FROM THE WATER WORKS BE INSUFFICIENT IN ANY YEAR TO PAY THE COST OF OPERATION AND ADMINISTRATION OF SUCH PLANT (INCLUDING INTEREST AND INSTALLMENTS OF PRINCIPAL OF BONDS ISSUED THEREFOR, AND THE COST OF INSURANCE AGAINST LOSS BY INJURIES TO PERSONS OR PROPERTY), THERE SHALL BE LEVIED UPON ALL TAXABLE PROPERTY OF SAID CITY SUCH TAXES AS MAY BE NECESSARY TO PROVIDE FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST OF SAID BONDS AT MATURITY. VII. THIS ORDINANCE SHALL TAKE EFFECT IMMEDIATELY. CLERK ADOPTED BY THE COUNCIL APRIL 4, 1949 AYES: MR. ADAMS, MR. BARR, MR. HADEN, MR. HAMMp AND MR. TEBELL NOES: NONE SIDENT AN ORDINANCE AMENDING AND RE-ENACTING SUBSECTION (3)OOFSECTION 63 (A) OF CHAPTER 18 OF THE CHARLOTTESVILLE CITY CODE 1945 HERETOFORE ADOPTED BY ORDINANCE RE-ENACTED THE 21ST DAY OF MARCH 1945 BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE THAT SUBSECTION (3) OF SECTION 63(A) OF CHAPTER 18 OF THE CHARLOTTESVILLE CITY CODE OF 1945 ADOPTED BY ORDINANCE ENACTED THE 21ST DAY OF MARCH, 19497 BE AND THE 0