3146 Ordinance - Laserfiche WebLink

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thereon shall besr the taesimile signaturt of the lriscal Ofricer. iben used in thia Otdinance, "]Dcecutive" ahall mean tht Nwor, "lriscal Otficer" shall rneari the Director o2' Finsace and "Legal QtYicer" shall rAmi the 8olicitor. Any officer or board uhich hereafter succeeda, by aperatioa of lav, to the poMSre and duties of aeV auch ofY'icers shall be deeseQ iaclwded in the applicable olricial deaignation ikile having sueh pawers aad duties. The liortgW reterred to herein is the InBeature cf MortMe securiag the Bonda, hereinfter pravided for, betMeen the Mualaipality aad the Ttvstee afaore_ seid. Bectson 3. Sa1e or 8oucls -- The Tmproti?Neat BozKL are her*by aMUrdeQ sad ? aold to John M=veen i o. c. ) aAd Associates of lleW Yoiic, Ilw Yorfc, in a,cco:dance ti+iLh the Leres of t.heir vritten Droposal dated October 18, 19600 bereto?ore sub- mitted to arid a,ecepted by Council by Aeaolution pasaed October 18, 1960; anQ •aid bonds shall be deliv+ered by or under the instnwtioas ef tbt l?1ice1 Ottiaer upon p4ynoent of the purchase price prarin said propos<1, vith secrued interest to date ot such delivery. Asid purcbasen, or arnager of the purr.h"lag irou?, to vhft the bonds me avarcled in the ioaarier atoresaid are referred to in thi• wdiasoce aa tbs "Original Purchaaers". BeeLion 4.. Aevenue Fund aud lication 1lureof• ft*cW Iunds -- 80 leog is arq BQdi NC LZi! Xbrtgage 2'ld1A 011LS T!rlII1LH 8!2'it1" S'1vm the opentioai of the Uti,lity, aa ncyw coastituttd or hereaftor iVrovrd oar sxtead,ed, sball be tnasftrred or deposited to the "AeMer Reveaw TLmd", ihich shall b e mwlAtaintd, in the nw of the Municipality, in a bank depwit separate and distinct trom all aCber tlinds ot the Maaicipalltar. OuL of Wd FLad, mod after reserving therein aa adeqwte sur as wrkiM aopital for the Utility, the tallow- in8 PWmats only shal.l be made and in the lallwing order, to vit : Tirst: All rssaooable wd praper apenses of vperating and maiatsinins the Utility and a11 cf ita appvuteaaoees, sucb mpensoi to eulude tbase ot acq other utilit3r of the llunieipalitr, *ttber or twt ouch otblr utility aba,ll be cyperat,ed Y a•lagls unit with the 1Ttility aad to exclude deprecistion aaQ capital zrpla,emeeuta. 8econd: 4uarterljr ca the lifteenth dWs of Ftbruary, Mqr, August aad lloveaber, inLo the Debt 8ei-riee FLnd: (1) bsginnin6 Aygust 15, 1962, ane-half of the aeamt aectsaary to prori8e !ar payrnt of the iut*rest dw en the nact enAuiag interest pyrMat date 4paa all Boads outstanding; and (2) bsgianiag an ftbruar7 15, 19", the equal quarter-amual suo nmersary Lo yrowide far py?ment of the -uet emuisg primipal maturity ot sll DoAs autat.andins. 2birb: Qrrt.erl,jr as atosesaid, begimin hqpwt 15, 1961 iato the Debt dervic* 11oserro Fund the toll,otiing sur: (l$ !or the 2d ? .? w-?.??.?.•?,?. ? ? + • < .: ` ? ; . . ; ?, ? . . , _. . . ' • ? ? ' f 1? ? ; .