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Additional. Bonds shall not be redeemable earlier than the first- redeffiption <br />clate for the Improvement Bondso <br />7.'Yie Bonds shall be payable solely from the revenues and properties of <br />the Utility and ahall be secured only, but equally and x°atabl,y- urithout <br />priority of one over another by reason of number or of date of Boncl; saley <br />execution or delivexay, by the Mortgsge constituting a lien upon said x°evenu?s <br />and properties, aftex° provision for the reasonei.ble operation and maintenance <br />ezcpenses of the Utility, and by the franchise hereinafter provided for under <br />whieh, in case of foreclosure of the Mortgage, the purchaser may opea°ate the <br />Utility; and anything in the Mortgage, in this ordinance ox° in the Bond.s to <br />the contx°ary notwithstanding, neither the general resous°ces of the Municipality <br />shall be required to be used, nor the general credit of the Municipalit;y <br />pledged for the performance of any duty under the Mortgage, this orclinaza.ce <br />or the Bonds, but any payment to be made under the Mortgage, this ordinance <br />or the Bonds sha11 be made only from the properties and revenues of the <br />Utility; provided, however, that if otherw3se lawful, nothing herein shall <br />be deemed to prohibit the Municipal.ity from using, of its own volition, any <br />of its general resources for the fulfillment of any of the terms and eonditions <br />of° the Mortgage, this ordinance or the Bonds. <br />Section $. Covenants af Municipality -- The Munieipality, by issua.nce of <br />the Improvement Bonds, shall covenant with the holders of the Bonds and urith <br />the Trustee that: <br />(A) It will at all times prescribe and charge such rates fox° the <br />services of the Utility, and will so restrict operation and maintenance <br />easpenses of the Utility, as shall z'esult in Utility revenues at least adequate, <br />a,fter meeting such operation and maintenance ezcpenses to provide for (i) the <br />payments required by this Ordinance and to be made into the Debt $ervice Fund, <br />Debt Service Reserve Fund, or other SPECldi1. FUT1dS (ii).proper improvement and <br />replacement reserves, and (iii) sufficient eo,rnings coverage to pexZUit the <br />issue of the Additional Bonds required for the construction of necessary or <br />advisable extensions or impxovements; will adopt and keep in force appropriate <br />legislation to require all improved propearties having reasonable access to <br />the Utility facilities to connect wl.th and use the same for disposal of sanitary <br />sewage; will permit no free service of Utility facilities; and urill at a].1 <br />tiuea cause the collection of Utility rates and cYiarges to, be enforeed by a.1l <br />lawful means, including the imposition and enforcement of Tiens upon the 1ots <br />and lands of users of the Utility. <br />(B) It will furnish to the Trustee and to the Origina]. Purchasers <br />semiannuel reports of the aperation and income of the Utility and a].so on <br />or befare egch Max°ch first an annual report prepared by a certified pulalic <br />accountant of the books, accounts and operations of the Utility, and will <br />permit the authorized representatives of the Trustee, of the Original Purchasers, <br />or of any holder or holders of ten per centum of the amount of the Bond.s at <br />2i <br /> <br />