Ord 1926 10/10/1960 ORDINANCE NO. 1926
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 1960-61 TO PAY PUBLIC UTILITY OBILGATIONS; PROVIDING FOR A
METHOD 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 $157,458.00 TO PAY PUBLIC UTILITY OBLIGATIONS
ACCRUING IN THE FISCAL YEAR 1960-61 ON THE OUTSTANDING WATER BOND ISSUE IN THE SUM OF
$2,329,000.00, 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 $52,282.00 FOR THE PAYMENT OF PUBLIC
UTILITY OBLIGATIONS ACCRUING IN THE FISCAL YEAR 1960-61 ON THE OUTSTANDING SEWER
BOND ISSUE IN THE SUM OF $630,000.00, 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 $157,458,00 HEREIN SET ASIDE IS TO BE
DIVIDED INTO TWELVE (12) EQUAL INSTALLMENTS AND PAID INTO THE FUNDS PROVIDED IN THE
BOND ORDER EACH MONTH IN THE SUM_OF $13,121.50.
SECTION 4. THE SAID TOTAL SUM OF $52,282.00 HEREIN SET ASIDE BEGINNING
OCTOBER 1, 1960, BE DIVIDED INTO TWELVE (12) EQUAL INSTAL M NTS AND PAID INTO THE
FUNDS PROVIDED IN THE BOND ORDER EACH MONTH IN THE SUM OF $4,356.83.
SECTION 5. THE IMMEDIATE NEED TO CONTINUE THE NORMAL OPERATIONS OF THE
BUSINESS OF THE CITY CREATES AN EMERGENCY AND IN ORDER TO PRTECT THE PUBLIC' HEALTH,
WELFARE AND TO PRESERVE THE PEACE, THIS ORDINANCE SHALL TAKE EliT'ECT IMMEDIATELY, AND
IT IS SO ORDAINED
PASSED AND APPROVED THIS, THE 10th DAY OF OCTOBER, A. D. 1960.
= ;
Bpi iMss• .; Jr., Mayor 'rote 1
AT TEST:
A. L. Fitts, City Clerk