Ordinances-1965-58

(Form of Coupon) Tiffin, Iowa No. ________ $____________________ On ____________, 19_____, the Treasurer of the Town of Tiffin, Iowa, will pay to bearer out of the future net revenues of its sewage works and facilities, ______________ Dollars, at the office of the Town Treasurer, Tiffin, Iowa, for semi-annual interest then due on its Sewer Revenue Bond (provided said bond has not been previously prepaid) dated December 1, 1965, No. ________. __________________________________________ Town Clerk (Form of Town Treasurer's certificate to be printed on the back of each bond.) STATE OF IOWA ) COUNTY OF JOHNSON ) ss. TOWN TREASURER'S CERTIFICATE TOWN OF TIFFIN ) This bond duly and properly registered in my office as of the First day of December, 1965. __________________________________________ Town Treasurer Section 3. The bonds hereby authorized shall each be signed by the Mayor and attested by the Town Clerk with the seal of the Town affixed and the interest coupons thereto attached shall each be executed with the signature of the Town Clerk or a facsimile thereof and said officials are hereby authorized and directed so to execute said bonds and coupons and when so executed, said bonds shall be delivered to the Town Treasurer and shall be by him registered and delivered in exchange for and upon surrender and cancellation of a like aggregate amount of outstanding temporary sewer revenue obligations of said Town authorized to be refunded in this ordinance. Section 4. That upon the issuance of the bonds hereby authorized and thereafter so long as any of said bonds or any additional bonds ranking on a parity therewith are outstanding the municipal sewage works and facilities of said Town of Tiffin shall be operated as a revenue producing and self-liquidating undertaking and the revenues derived from the rates and charges for sewer services furnished by and through said system shall be set aside into a separate special fund to be used (1) to pay the reasonable expenses of operation, repair and maintenance of the works and facilities; (2) to pay when due the interest on and principal of the bonds hereby authorized and any additional bonds ranking on a parity therewith from time to time outstanding; (3) to accumulate and maintain a margin of safety and reserve for the payment of said bonds and interest thereon; and (4) to pay the cost of additional sewage works and facilities and sewage treatment plant or necessary improvements and extensions to the sewage works and facilities of said Town or bonds issued for account thereof or for any lawful purpose, as hereinafter provided.