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Home My WebLink About02095•e by mailing; a like notice at the same time to McLean & Company, Inc. at its office in Tacoma ',Iashington, or to the successor in business, if any, of said comnany at its main office. Interest on any Bond or Bonds so called for redemption shall cease on such redemption date unless the same are not redeemed upon presentation made pursuant to such call. At the time of giving any such notice the City Clerk is hereby requested to send copies thereof to Standard & Poor's Corporation and Moody's Investors Service, Inc. at their offices in New York, New York, however, the giving of such notice shall not be a condition pre- cedent to the redemption of the Bonds being called. Section 9. A special fund of the City to be knot -in as the "Port Townsend 1967 Sewer Construction Fund" is hereby created. The moneys received from the sale of the Bonds (except for accrued interest, which shall be paid into the 1967 Bond Redemption Fund) shall be paid into the Construction Fund for the uses and purposes provided in Section 5 hereof. Any other moneys which the City may receive or have on hand for the purposes for which the Bonds are issued shall also be paid into the Construction Fund. All moneys remaining in the Construction Fund after the pay- ment of the costs of all of the additions and improvements to and exten- sions of the System as hereinbefore provided and the payment of all costs incidental thereto shall be transferred to the 1967 Bond Redemption Fund for the uses and purposes herein provided. Section 10. There has heretofore been created a special fund of the City known as the "Olympic Gravity Water Fund" (hereinbefore defined as the "Water Fund"), into which Fund the City has obligated and bound itself and does hereby obligate and bind itself to pay the gross earnings and revenue of the System as collected. All costs of maintaining and operating the System, all pay- ments required by Ordinance No. 1379 to be paid into the Parity Bond Redemption Fund, and all payments required by this ordinance to be made 7.