Laserfiche WebLink
set aside into the Bond Interest and Redemption <br />Fund an amount equal to one - twelfth (1/12) of <br />the aggregate yearly amount necessary to pay the <br />next maturing installment of principal of the <br />bonds of this series, and an amount equal to <br />one -sixth (1/6) of the amount necessary to pay <br />the next maturing installment of interest on said <br />bonds. <br />(c) Surplus Fund. There is hereby created and <br />shall be maintained the Off- Street Parking District <br />No. 1 Surplus Fund ", herein called Surplus Fund. <br />To this fund there shall be transferred monthly any <br />surplus in the Off- Street Parking Revenue Fund after <br />payments have been made therefoom as provided in <br />subdivisions (a) and of this section. The moneys <br />in th�s fund shall constitute a further security for <br />the payment of the bonds and the interest thereon. <br />Moneystherein shall be used to meet any delinquency <br />in the bond interest and redemption fund. Any balance <br />may be used for: <br />(i) The call or purchase and redemption <br />of bonds of this issue, <br />(ii) Additional off - street parking lots <br />and facilities in Parking District No. 1, or <br />(iii) The improvement of the off-street <br />parking lots and facilities to be acquired <br />from the proceeds of the bonds of this issue. <br />22. Central Business District Meter Revenue Fund. <br />There is hereby created and shall be maintained a special <br />fund to be known as "Central Business District Meter Revenue <br />Fund ", herein called Meter Revenue Fund, into which shall be <br />paid, on or before the first day of each month following the <br />receipt thereof, all fees, tolls, charges, rentals and other <br />revenues, and other revenues and profits of any kind, derived <br />frcm street meters both within and without Parking District <br />No. 1 but within the Central Business District of the City, <br />now installed and maintained or to be installed and maintained, <br />together with any interest earned thereon, and from the ser- <br />vices and facilities of parking lots heretofore acquired out- <br />side Parking District No. 1 but within the Central Business <br />District of the City. So long as any of said bonds of this <br />issue are outstanding, or any interest thereon is unpaid, <br />said fund shall be administered and disbursements shall be <br />made therefrom in the manner and in the order as follows: <br />-14- <br />