ORD1984509'1; -a
ORDINANCE #509
AN ORDINANCE TO AMEND ORDINANCE #I28
PROVIDING FOR THE ISSUANCE, SALE AND PAYMENT OF
CITY OF MUSKEGO AND OTHER DETAILS WITH RESPECT THERETO
SEWERAGE SYSTEM MORTGAGE REVENUE BONDS OF THE
THE COMMON COUNCIL OF THE CITY OF MUSKEGO, WISCONSIN, DO ORDAIN
AS FOLLOWS:
Section 1: The first paragraph and its three subsections of
Section 3 of Ordinance 128 are hereby amended to read as
follows:
Section 3. Income and Revenue Funds. The income and
revenues to be derived from the operation of the System,
including payments received from the City for services
rendered it, shall be set aside into separate and special
funds hereby establish'ed and are to be used and applied for
the following purposes and in the following proportions:
18% of the income a.nd revenues therefrom is presently
necessary and shall be set aside in the "Sewerage System
Operation and Maintenance Fund" for the reasonable and
proper operation and maintenance of the System;
17% of the income and revenues therefrom is presently
necessary and shall be set aside in the "Sewerage System
Depreciation Fund" as a proper and adequate depreciation
account;
65% of the income and revenues therefrom is presently
necessary and shall be set aside in the "Sewerage System
Bond and Interest Slecial Redemption Fund" (herein
referred to as the "Special Redemption Fund"), and
applied to the payment of the principal of and interest
on the Bonds.
Section 2: All ordinances or parts of ordinances inconsistent
with or contravening this ordinance are hereby repealed.
Section 3: This ordinance shall be in full force and effect
from and after its passage and publication.
PASSED AND APPROVED THIS - DAY OF xm~d,p,\ , 1984. ,
, .. . Salentine, Mayor
_. .. Official Notice ..~. . . . . " - -
ORDINANCE NO. 509
N.4VCE NO. 128 PiLOVIDING FOR THE AX ORDINANCE M AMEND ORDI-
SEWERAGE SYSTEM MORTGAGE
ISW.4NCE. SALE AND PAYMENT OF
REVENUE BONDS OF THE CITY OF MUSKECO AND OTHER DETAILS WITH
RESP%CT THERETO 7HE COMMON COUNCIL OF THE CITY OF MUSKEGO. WISCONSIN. W ORDAIN. AS FOLLOWS:
SBcrion 1: ?%e first paragraph and ita
rhree subsections of :'&ion 3 of Ordinance
I28 am hereby amended to rend (LB follows:
seaion 3. Inmme and Revenue Funds.
Tbe inmme and revenues to be derived hm
Lhe operstion of the System. including
psyrremts received fmm the City for seMcea
aad spbcial funds hereby established and rendered it. shall be set aside into aeparate
purprxes and in the :following pmporliom:
are to be used and nipplied far the following
18% dthe inmme and revenues therefrom
is prrsrntly necessary and Bhall be set aside
in Ihz Sewerage System operation and
MaiDtenance Fund" for the reananable and
proper operation and maintenance of ihe
SysrCm;
is presently neceseary and shall be set aside
174 dthe inmme >ind revenues rf;erefrorn
in the 'Sewerage System Depreciation
tim amt;
Fd s a proper rrnd adequate deprecia-
65% dlbe inmme imd revenues therefrom
ia p-dy ne~ssary and shall be set aside
in the -erage Syutem Bond and interest S+ Redemption Fund" (herein referred
to 1y1 tbe Spffial kdemption Fund' ), md
appw UI the payment of the principal of
and intmrrt on the Bonds.
%d.m 2: All o;&anaa or parts UP
incornistent with or mntraven- mP thi= ordinance am hereby repealed.
fom anl effect fmm and aRer its passage
Section 3: This onlinance shall be in full
and ouhkation~ ~-~-
DAY OF November, 1984.
PAssm AND APPROVED THIS 27th
/dWajne G. Wentine. Mayor