Ord 1699 10/11/1954ORD I FIANCE NO. 1
AN ORDINANCE SETTING ASIDE FROM THE REVENUES OF THE
PUBLIC UTILITIES OF THE CITY OF WICHITA FALLS SUF-
FICIENT FUNDS TO PROVIDE FOR THE CITY DEBT SERVICE
FUND FOR THE FISCAL YEAR 1955 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
1$158,384.00 to pay Public Utility Obligations accruing in the
fiscal year 1955 on the outstanding water bond issue in the sum
of X2,842,000.00, 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
;$48,398.00 for.the payment of Public Utility Obligations accruing,
in the Fiscal year of 1955 on the outstanding sewer bond issue
inthe sum of 4,810,000.00, 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 X158,384.00 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 $13,223.67.
SECTION 4. That said total sum of $46,398.00 herein
set aside beginning October 1, 1954, be divided into twelve (12)
equal installments and paid into the funds, rovided in the bond
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order each month in the sure of 411,3,033.16.
SECTION 5. The immediate need to continue the normal
operations of the business of the City creates an emergency and