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Acquisition and Construction of Extensions and Additions Waterworks authorizing Revenue Bonds to Provide Cost thereof
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Acquisition and Construction of Extensions and Additions Waterworks authorizing Revenue Bonds to Provide Cost thereof
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5/13/2014 9:56:23 AM
Creation date
5/12/2014 10:44:42 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/23/1960
Ord-Res Number
4321-60
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(b) The extensions and additions shall be contracted <br />for and constructed to the approval of Clyde E. Williams & <br />Associates, Inc., Consulting Engineers of South Bend, Indiana, <br />and Callix E. Miller, Architect- Engineer of South Bend,Indians, <br />now employed by the City, or such other consulting engineers as <br />may hereafter be employed by the City. All estimates.for work <br />done and material furnished shall first be checked by the <br />consulting engineers before being approved by the City. <br />(c) The City shall, at all times, maintain said water- <br />works in good condition and operate the same in an efficient <br />manner and at a reasonable cost. <br />(d) So long as any of the bonds herein authorized are <br />outstanding, the City shall maintain insurance on the insurable <br />parts of the waterworks of a kind and in an amount such as is <br />usually carried by private companies engaged in a similar type <br />of business. All insurance shall be placed with responsible <br />insurance companies qualified to do business in the State of <br />Indiana, and any insurance proceeds collected shall be used in <br />replacing the property destroyed or damaged, or if not needed <br />for that purpose, shall be deposited in the Depreciation Account. <br />(e) So long as any of the bonds herein authorized <br />are outstanding, the City shall not mortgage, pledge or other - <br />wise encumber its waterworks or any part thereof, and shall not <br />sell, lease or otherwise dispose of any portion thereof except <br />such equipment which may become worn out or obsolete, and shall <br />be replaced, and except such real estate which shall no longer <br />be necessary for use; nor shall the City execute or issue any <br />-21- <br />
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