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ing facilities, with power to fix and collect charges
<br />sufficient to provide for the payment of this bond
<br />and the interest thereon, and to apply the revenues
<br />in conformity with the provisions of said Act and or-
<br />dinance.
<br />The City further covenants that all of the income
<br />and revenues of said Project 1969 facilities shall be
<br />set aside daily, as received, into a separate and spe-
<br />cial fund to be designated as "Parking Fund - Project
<br />1969 "; that out of said fund there shall be paid the
<br />cost of operation, maintenance and repair of the fa-
<br />cilities for the current calendar month and a suffici-
<br />ent amount reserved to pay such cost for the calendar
<br />month then next succeeding; that the balance of the
<br />moneys in said fund shall be deemed to be the net rev-
<br />enues of the facilities and shall, on the first day of
<br />each calendar month, be transferred and set aside into
<br />a separate and special fund designated as "Parking Sink-
<br />ing Fund - Project 1969" to the extent provided in said
<br />ordinance; that on the first day of each calendar month,
<br />beginning July 1, 1969, it will set aside revenues de-
<br />rived from its on- street parking meters into said Sink-
<br />ing Fund to the extent provided in said ordinance.
<br />The bonds of this issue maturing on January 1,
<br />2000, are redeemable prior to maturity at the option
<br />of the City from available revenues, in whole, or from
<br />time to time in part, by lot in such manner as the City
<br />determines to be fair and equitable, on January 1, 1984,
<br />or any interest payment date thereafter, at the princi-
<br />pal amount thereof and accrued interest to the date
<br />fixed for redemption, plus the following premiums:
<br />3% if redeemed on January 1, 1984, or there-
<br />after on or before July 1, 1987;
<br />2% if redeemed on January 1, 1988, or there-
<br />after on or before July 1, 1991;
<br />1% if redeemed on January 1, 1992, or there-
<br />after on or before July 1, 1995;
<br />0% if redeemed on January 1, 1996, or there-
<br />after prior to maturity;
<br />and, from any funds regardless of source, in whole only,
<br />on January 1, 1984, or any date thereafter, at the prin-
<br />cipal amount thereof and accrued interest to the date
<br />fixed for redemption, plus the following premiums:
<br />5% if redeemed on January 1, 1984, or there-
<br />after on or before December 31, 1987;
<br />4% if redeemed on January 1, 1988, or there-
<br />after on or before December 31, 1991;
<br />2% if redeemed on January 1, 1992, or there-
<br />after on or before December 31, 1995;
<br />1 %.if redeemed on January 1, 1996, or there-
<br />after prior to maturity.
<br />Notice of such redemption shall be published in a news-
<br />paper published in the City of South Bend, Indiana, and
<br />- 11 -
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