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5/6/74 <br /> <br /> The City may deposit money received from any source in the Construction Fund. The money <br />set aside and placed in the Construction Fund shall remain therein until from time to time expended <br />for the purposes for which the bonds were issued. Money in the Construction Fund may be invested in <br />any authorized investments, provided that the maturity or maturities thereof shall not be later than <br />the date or dates on which money must be available to meet scheduled Construction Fund expenditures. <br />If any sum remains in said Construction Fund after the full accomplishment of the purposes for which <br />the bonds were issued, it shall be transferred to and placed in the Reserve Fund to the extent necessary <br />at that time to bring the Reserve Fund up to an amount equal to the maximum amount of annual debt <br />service and, as to any remaining balance, to the Revenue Fund. <br /> <br /> (b) Revenue Fund. The Director of Finance shall, on or before the last business day of each <br />calendar month deposit the gross revenues of the enterprise in the Revenue Fund. The Director of Finance <br />shall transfer moneys from the Revenue Fund to the following funds in the following order of priority. <br /> <br /> (c) Interest Fund. On or before the last business day of each calendar month so long as any of <br />the bonds are outstanding the Director of Finance shall set aside out of the Revenue Fund into the Interest <br />Fund, at least one-sixth (1/6th) of the interest which will become due and payable on the outstanding <br />bonds of this series within the next ensuing six (6) months. Such sums shall be so transferred that at <br />least the full mount required to pay the interest on said outstanding bonds shall be set aside in the <br />Interest Fund prior lo the date the installment of interest becomes due. <br /> <br /> Any amount required to be set aside, transferred to and placed in the Interest Fund may be prepaid <br />in whole or in part by being earlier set aside, transferred to and placed in the Interest Fund, and in that <br />event the monthly transfer which has been so prepaid need not be made at the time appointed therefor. <br />In any event prior to the due date of any installment of interest on outstanding bonds all stuns required for <br />the payment thereof must be in the Interest Fund. <br /> <br /> Money in the Interest Fund may be invested in any authorized investments, provided that the <br />maturity or maturities thereof shall not be later than the date or dates on which money must be available <br />in the Interest Fund. <br /> <br /> The interest coupons shall recite that they are payable from the Revenue Fund, but said coupons <br />notwithstanding such recital shall be paid from the Interest Fund which is derived from the Revenue Fund. <br /> <br /> If after all of the outstanding bonds have been redeemed and cancelled or paid and cancelled there <br />are any moneys remaining in the Interest Fund said moneys shall be transferred to the Revenue Fund; <br />provided, however, that if said moneys are part of the proceeds of refunding bonds said moneys <br />shall be transferred to the fund or account created for the payment of the principal of such refunding bonds. <br /> <br /> (d) Retirement Fund. For the payment of the outstanding serial bends of this series on or before <br />the last business day of each calendar month so long as any of such bonds are outstanding the Director of <br />Finance shall set aside out of the Revenue Fund into the Retirement Fund, at least one-twelfth (1/12) of <br />the principal amount of such bonds which will mature and be payable within the next ensuing twelve (12) <br />months. Such sums shall be so transferred that at least the full amount required to pay any maturity <br />or installment of principal of such bonds shall be set aside in the Retirement Fund prior to the date the <br />installment of principal becomes due. <br /> <br /> Amy amount required to be set aside, trt/nsferred to and placed in the Retirement Fund may be <br />prepaid in whole or in part by being earlier set aside, transferred-to and placed in the Retirement Fund, <br />and in that event the monthly transfer which has been so prepaid need not be made at the time appointed <br />therefor. In any event prior to the due date of any installment of principal on such serial bonds all sums <br />required for the payment thereof must be in the Retirement Fund. <br /> <br /> The bonds shall recite that they are payable from the Revenue Fund, but said bonds notwithstanding <br />such recital shall be paid from the Retirement Fund which is derived from the Revenue Fund. <br /> <br /> <br />