Ord 1998 10/22/1962 ORDINANCE NO./99)7
AN ORDINANCE SETTING ASIDE FROM THE REVENUES OF THE PUBLIC UTILITIES OF
THE CITY OF WICHITA FALLS SUFFICIENT FUNDS TO PROVIDE FOR THE CITY DEBT
SERVICE FOR THE FISCAL YEAR 1962-63 TO PAY PUBLIC UTILITY OBLIGATIONS;
PROVIDING FOR A METHOD OF PAYMENT; AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS,
TEXAS:
SECTION 1. THAT THERE BE SET ASIDE FROM THE REVENUES OF THE PUBLIC
UTILITIES OF THE CITY OF WICHITA FALLS THE SUM OF, $159,018 TO PAY PUBLIC
UTILITY OBLIGATIONS ACCRUING IN THE FISCAL YEAR 1962-63 ON THE OUTSTANDING
WATER BOND ISSUE IN THE SUM OF $2,136,000, SAID' SUM OF MONEY TO BE SET UP
IN A FUND To BE KNOWN AS WATER DEPARTMENT DEBT SERVICE FUND.
SECTION 2. THAT THERE BE SET ASIDE FROM THE REVENUES OF THE PUBLIC
UTILITIES OF THE CITY OF WICHITA FALLS THE SUM OF $50,095 FOR THE PAYMENT
OF PUBLIC UTILITY OBLIGATIONS ACCRUING IN THE FISCAL YEAR 1962-63 ON THE
OUTSTANDING SEWER BOND ISSUE IN THE SUM OF $560,000, SAID SUM OF MONEY TO
BE SET UP IN A FUND TO BE KNOWN AS SEWER DEPARTMENT DEBT SERVICE FUND.
SECTION 3. THAT SAID TOTAL SUM OF $159,018 HEREIN SET ASIDE IS TO BE
DIVIDED INTO TWELVE (12) EQUAL INSTALLMENTS AND PAID INTO THE FUNDS PRO-
VIDED IN' THE BOND ORDER EACH MONTH IN THE SUM OF $13,251.50.
SECTION 4. THE SAID TOTAL SUM OF $50,095 HEREIN SET ASIDE BEGINNING
OCTOBER 1, 1962, BE DIVIDED INTO TWELVE (12) EQUAL INSTALLMENTS AND PAID
INTO THE FUNDS PROVIDED IN THE BOND ORDER EACH MONTH IN THE SUM OF
$4,174.60.
SECTION 5. THE IMMEDIATE NEED TO CONTINUE THE NORMAL OPERATIONS OF
THE BUSINESS OF THE CITY CREATES AN EMERGENCY AND IN ORDER TO PROTECT THE
PUBLIC HEALTH, WELFARE AND TO PRESERVE THE PEACE, THIS ORDINANCE SHALL
TAKE EFFECT IMMEDIATELY, AND IT IS SO ORDAINED.
PASSED AND APPROVED THIS THE 22ND DAY OF OCTOBER, A. D. 1962.
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ATTEST: a°7
A. L. FITTS, eITY CLERK
APPROVED AS TO FORM
H. P. HODGE, JR., CITY ATTORNEY