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thereon shall bear the facsimile signature of the Fiscal Officer. When used in this Ordina,nce, "Ececutive" shall mean the Mayor, "Fiscal Officer" sha11 mean the Director of Finance and "Legal Officer" sha11 mean the Solicitoro Any of'ficer or boaxd which hereafter succeeds, by operation of law, to the powers and duties of any such officers sha11 be deemed included in the applicable official designation while having such powers and dutieso 7he Mox°tgage referred to herein is the Indenture of Mortgage securing the Bonds, hereinaf°ter provided for, between the Municipality and the Trustee aforem saido Section 3. Sale of Bonds -- The Tmprovement Bonds are hereby awarded and sold to John Nuveen & Co. (Ixic.) and .Associates of New York, New York, in aceordance with the terms of their written propasal dated October 18, 1960, heretofore sub- mitted to and accepted by Council by Resolution passed October 18, 1960; and said bonds shall be delivered by or under the instructions of the Fiscal Officer upon gayment of the purchase price provided in said proposal, with accrued interest to ds.te of such delivery. Said purchasers, or manager of the purchasing graup, to whom the bonds ax°e awaxded in the menner aforesaid are referred to in this ordinance as the "Origina.l Purchasers". Section 4. Revenue Fund and AUlication Thereof; Special. Funds -- So long ..-.,...- ,•------ as any Bonds secured by the Aortg?ge rema.in outstanding, all revenues derived from the operation of the Utility, as now constituted or hereafter improved or extended, shall be transferred or deposited to the "Sewer Revenue Fund.", which shall b e maintained, in the name of the Municipality, in a bank deposit separate and distinct from a7.1 other funds of the Municipal.ity. Out of said Fund, and after reserving therein an adeque.te sum as working capital for the Utility, the follow- ing payments only sha11 be mad.e and in the following order, to wit: First: Al1 reasonable and proper expenses of operating and maintaining the Utility and a11 of its appurtenences, such expenses to exclude thpse of ary other utility of the Municipa,lity, whether or not such othkr utility shall be operated as a single unit with the Utility and to exclude depreciation and capital replacements. Second: Quarterly on the fifteenth days of February, May, August and November, into the Debt Serv3ce Fund: (1) beginning August 15, 1962, one-half of the amount necessary to provide for payment of the interest due on the next ensuing intexeat payment date upon all Bonds outstanding; and (2) beginning on February 15, 1964, the equal quarter-annual sum necessary to prqvide far payment of the next ensuing principal maturity of all Bonds outstanding. Third: Qua,rterly as aforesai.d, beginning August 15, 1961, into the Debt Service Reserve F1znd the following sums: (1) for the 2d co-