Ord 1988-018 - Laserfiche WebLink

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Section 1.02. Other Definitions. The term "City" shall have the meaning assigned in the preamble to this Ordinance. Section 1.03. Findings. The declarations, determinations and findings declared, made and found in the preamble to this Ordinance are hereby adopted, restated and made a part of the operative provisions hereof. Section 1.04. Table of Contents. Titles and Headings. The table of contents, titles and headings of the Articles and Sections of this Ordinance have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof and shall never be considered or given any effect in construing this Ordinance or any provision hereof or in ascertaining intent, if any question of intent should arise. Section 1.05. Interpretation. (a) Unless the context requires otherwise, words of the masculine gender shall be construed to include correlative words of the feminine and neuter genders and vice versa, and words of the singular number shall be construed to include correlative words of the plural number and vice versa. (b) This Ordinance and aH the terms and provisions hereof shaH be 1iberaHy construed to effectuate the purposes set forth herein to sustain the va1idity of this Ordinance. ARTICLE II SECURITY FOR THE BONDS Section 2.01. Pledge of Revenues. The Bonds herein authorized are "additional bonds or obligations" described in the Ordinances authorizing the Outstanding Bonds, and the principal thereof and the interest thereon, together with the principal of and interest on the Outstanding Bonds, are and shall be payable from and secured by an irrevocable first lien on and pledge of the net revenues to be derived from the operation and/or ownership of the System. Current Expenses shall include all reasonable and necessary costs of operation, repairs, maintenance, and insurance, but shaH exclude depreciation, payments into the Water and Sewer System Junior Lien Revenue Bond Interest and Sinking Fund and the Water and Sewer System Replacement and Repair Fund hereinafter created. Section 2.02. Special Obligations. The Bonds and the interest thereon shall constitute special obligations of the City, payable solely from the Net Revenues 2387f -3-