HomeMy WebLinkAboutO-120ORDIMVICI UO, 120,
N f" Mn t1t e% 1 11 :T^ I
V XILIM !& Wl; A nV ML "J.-I 1#414 M 4 M.) T L U A MW
FOR TH& M-Mi,140-9 (JF XMITY ON THOUSAM
DOLLARS ($91t0OO.00) Of RMMl WUDU OP
Tom* TOWN OF FArRIMPNO IN 'M& COUNTY OF
BAD-WINt -,;T,'T-1` (JF WIDI-R TRE FW-
VISIONS OF ACT 110. 102# GXWIUL ACTS OF
aAB.,*J4As APPRQV.Ld) 299 19339 FOR THN
MRPOJZ CY DMAYING THS C0,433T OF CO.1-
STRUCT1,'.4G A '49N WAT0W(,RK8 MD Xw, ii3i, ,GH
3YJ*TW M T119 T(WN OF rA1WWP, PHZSCRI-
B114G TIC DETAILS OF BONDU# PROVIUiNG
FOR THA COLLSCTI0640 3WRvWtTIOX PM UI3-
7RIBUTION OF THE RIMULB OF "MCH 4ATIR-
4J AND "MMAGI SYSTAM# PROVIDING 10P
TKU PATUMT CY T:',& i'RINGIY,L CF :',ND INT014,,'-M
ON 3ATP R02M)3$ ,Nl; rorl THE iUHI,I*v-Sp
AMiAil, it has become nocess,pry and is deemed advisable 'that
the Town of Fairhope, In the Ofounty of Baldwin, I;ti)te of tUftbomev
oonstruct a waterworks and sewerage system In and for &aid Coven of
Fairhope so as to provide a waterworks Pnd sewerage systera for said
Town of vairhops and its inhabitants, there being now no adequate. md
sanitery waterworks end sewerage system. in said Town of Falrbope and
that the cost thereof to the amount of Ansty Onc ThousnA L'ollars
0,"919000,00) be defrRyfid by 1;he lsz;unnoe of revenue bonds of said
Town of Fairhope to the anjunt of "'Anety Cao Thousand Pollars ( 910000o
and;
WHIRU96 an estimate has been vinde of the probable cost of the
eontemplated IMrovements, whi h sim! eativiato In One Hundred Twenty
Thous9nd l'ollars($1P.0,000,00); and
R the contemplated lz>iprovo.-.At, to re as follows:
Consisting of a well, serntor,, concreto reservoir, tank one, tovier,
fire pumps, service ItL.-pa, cost iron alstribut Ion 3:,�stem,
Jewerage systen:
'- collecting system, wand dlsposi.,il plant.
NO',;` TIWWUH,tq 7-:'S IT i,-RDA1MZ UY M114 T(AX CMUCIL OF rA1HHQP.,.,,
AIAIANAj tin follown:
�.;eotion 1, Thnt it to aaeess,ry t)nd for the beat interest of this
Towa of 7nirbope thet the Impr,momants �ibovo described be ours t:,actnd,
Thnt the cost of ,,viid inpr-ws.rasnts has been ost1z*t,d
402-
by engineers waj.tloyed 1�-x that purpose to be One Hundred Twenty Thousand
Dollars (�120,000.00) tand the estimated at:st of wid imProvwznn'ts is
found. deter ined (-Ind declared tO 0 e (Fne Hundred Tweaty Thoussnd
Lira (1-1l"U'000.00)
Jection Z, Met the plans and spec if describing said im-
pr--_vom�pits In detail now on file with the Town Clark awl : rese.ritly be-
fore this Counoll be and the are hereby adoj)VA tind approved, -nd
such plans ',,nd specifications at till roa,,�(_nsble times tilit,11 bo open to
the inspection of the ublia at the ,ffloe of the "'.1carke
Thy? s,,id laris heroby ndoptod and ,> pproved are the plans lud speal-
f t il,.ms i)ropared b., J*B, ("onv,;.,,rse & Co., !no. as subrdittqd
to tiie A to Bon 0 of health of the otata of ,Iabarwa and the federal
;ublic orks ttdjaiuistritton under jook%% j;6762, together with any plans
or ;i.;�eclf ion Lions that _ay be �ovelopod to amplify and detail the above
described s approved (,,-)r to be apr ;-,ovA by
plana mind spe� ifications, till a
the t to B< erd of lioalth o.0 the jtntoof and the feder I kubl,c
<,orks .,,d.*a1nIstr;jtion.
4. That s,id Improvewunts des orlbt-,d in said Anna vnd
avecifioationti ore described in genoi-al way -,�ts follows:
. - 1 eterwrks as Stems
Consisting of vvell, mer;4t;;r concrete reservoir., tvink snd tower,
fire pW1.1p,, service pu,,..,' a, cLzt^ �,�iron pipe, distribution �yxtfao
1P
.Iewerage
'j system and disposel.
,ection 5, That for the pur ose of dofrayine in art he oost of
such inprove_aents, Viere b1p .,.nee the re Eire authorized to be isaued
aterworks and ystem (Revenue) B,'-Inds of -,a id Town of Fairbops
under the provisions of ct No. 102, tGunernl -of of Aqbjdag approved
,.,irch 29, rind the principal of Pm interest upon 9,3id b,.nda L-hall
be; -:.iiyable ,,olaly frxa the gross raven. es to v 9 derived from the oper tion
of ajid wntkirworks and sewerage system, as hey6laafter provided, that
they be desiguated",k'aterviorks and ;.)eweraee i3ysten (Revenue) rands", be
dated July 19 1'J349 be i'.a tPhe ag -ragate princlpal umunt -. f inety Ono
Thousand _"ollars (. 91000,00)ti be of the oonorainat0n of One Thous nd
Dolly rs (g,1000.00) each* be nUmbered oonseoutively from one (1) to 5
Ninety ono (91), 1ith
Inclusive, bear Intere. t
at the rate of ff)ur per oantum (4%) per annUaq
payable Janunry 1. 19Z5, and -;emi-Finnually therenfter f,,,n the first
days of July rind Janunry of each year, be coupon to Lilorms ond mature
In the tmounts rind .)n the datog cis follows:
bond Numbors
lee
304
5j6t7
a 10
li'.1291Z
14615016
170 v3s 19
20 $ 21 t 22
"Zo 249 25
26$ 79 '18
zt. $.'50 9 31
329339Z4
35936037
38939,40
4lt4?t43t
44945946
47048 49
.50951:52
53954,55
56, 5 7 0 .4Y i
59560*61
62, 6a 9 64
65v66967
6P069070071
717t73974j75
76j,77078j,79
00qii1jS298Z
84sG5j86vi-,7
889899V0091
,,mount
Maturity
�2000000
July
19
1934
L'Ot'.0.00
,Tuly
it
1937
3000,00
July
It
1936
3000.00
Tuly
It
1939
3000.00
July
It
1940
3000.00
rely
10
1941
WO0000
Tuly
10
1942
3000.UO
JUly
19
1943
.1000,00
Tuly
19,1944
-'000.00
"Puly
19
lV46
3000 1 00
July
lg
1940
Z100U.00
Tuly
1,
1947
6000.00
Tuly
1:
19468
3000.00
July
19
1949
.3000600
ruly
is
1950
'6000000
rely
1,
9
1951
�000.uo
Tuly
10
1952
.3000100
July
19
1953
:3000100
Tuly
1
19.54
.000000
July
1:
1955
�Ooo'00
July
It
1. �' r4
3000.100
July
19
1957
5000.00
Tuly
10
1958
4000000
July
10
1959
4000.00
Tuly
19
1960
40001UO
Tuly
IS
1961
4000,00
'Tuly
It
1962
4000,00
July
It
1963
4000,00
Tuly
is
1964
,action 6. That the bonds nh4l be payable$ Guth as to iIrincipal
and interest rit the office of th- troasuror of the Town of Pairhope,
klabomas Pairhope, :.labawa.
The bonds shall ve Paynble to 'bourer, provided, however, t hat, so
to principal only, said bonds }hall be stAbjeot to regist at ion In the
nnme of the holder on �V'he books of wan id Ifok# of in the offloe
or its Clerk, such regivtrnttan beirg..,; not-ed �n the bnok of the 'tx)nd by
the Clerk, rifter 1hioh no trarisfer shall be vo-tlld unissil, r4ti4e (in arid
books Panct almiltirly note.:d on the bond, :.)ut amid bond a*k-y be discharged
from such regist, :Aion by belna, t ,insforred to bearer., niter i0t ch it
shall be transferable by delivery, imt It may w.,,nin be registered as
beforci,
The reglst.,�'-ition of anid bonds on to princi al shall not restrain
tine n*7,ot1nbility of the coupons by dolt ry, orely, ,(Ad t) ands shall
be a Igned by the Mayor oknd sealed wl th the eorpornto senl of sal d Tom
-4-
of i1rhops and attested by the Clark, .)na the interest coupons at-
tp.�chad to slid bonds shall be executed with the facsimile signature
of the !,,',ijyor and said Clark, and sriid officialaq by the execution or
shall adopt no end iear their mm ro,er rAgntiture their
res,Peotive fassimlle signatures appearing on said ccupons,' rovlded*
however, that in case of tiny of the officers whose signatures or
a;,_1unter signatures qppenr on the 4.,nxlr. or crupong sivAll cease to-i,,be
such officers before the delivery of such bonds, such signatures or
counter n Ignatures sht-111 nevertheless be valid - rid suff Iol: nt I or all
purposes the Wizao an If they livid rerisined in office until such 6eliveryo
of acid bonds, together with the interest ttiet,00n ah-Al -e Payable
out (-J' tha '14aterworks and -ewerage Ilystem (Revenue) Bond And Interest
tion Fund" of the Iowa of Fairhope, ro-
vided Pir, and shiill be f) valid clitim �A' the holder the roof only against
said 'Fund T.d the, fixed and dotermined rtlnmunts of the gross revenues
of said waterworks and sewerage system of said Town of Fnlrhope pledged
to acid 11md, nad smid bonds shell not constitute an indobtedness of said
Town of ?n Lrbtope lithin ny strAte constitutional 1,rovision or statutory
lii:UViti,)n.
section ?,,' That said I.), nda, and do 0_upons fnd certificate tlmr;-
on appenrinq,, sftql1 be in nubstantially the following fozMto-wit:
UNITM (,F
6T;CT� OF ALAWXi�
COUNTY c,F B.,JAIWIN
To �14 CF IFAIRHCJ�'S
W�4.T RKAKS
=1 I
4%
July lg 1934*
"000.00
X30*',Q ALL MIN 13Y TTMA HIJUT3.-
That the Town of P'r-1rhope,, in the ,.aunty of Baldwin, AAe of
,,Idbars, hereby aaknawledf,-es itoolf to owes one. for value re-celved,
_5,AM
hereby promises to key to th- be-rer(or, If this bond '-)e reg-istared,
to that registered holder theroof), the sum of One Thcueand Dollars
41000900) on, the first day of Tuly, i�nd to ,-ay Interest
thereon at the rnte of f".ur per ,ieatum (4%) per annum. payable se,7:J_
annually ca the first days of Tanutiry -ind JUly of each year, upon
Pres .,atation and surrondor of the n,.iaexed Iatoy*,,srt oe)uprinz as the
Katie severally suture, both the principal end Interest on this bwA
being ,sayable In any ooin or currency, which on the date of poyment
hereof is legal tender Vor the payxrftnt of !ublic and r:rlyste debts,
at the Office of the Town freas�,rer in Fo1rhope, .-lebma aro Dub jeot
to the conditions <And 11mitzitiona herein net out
Phis series of 1),,:)nds -qg��reaating Nir*ty One Thous,lnd Dollars
0000.00) IS
insuod
by said
Town of Frjirhc)pe under the provisions
of
at Moe 102,
G(-nsril
etc:
of klabaza, approved -nrch Mv 1ID330 end
in full cOmPlifincO with the existing Constitution andthe -Aetutes of
the t-Ite of Alabana, and pursuant to -.nd in 3onforAty with an ordi-
nanes duly 3nictL-d by the POWA C`0=011 the reof on the 14th dray of
,Iu�,,-U-it, 19.34,, for the purpose of defrayinf.; :r tfie. otost cons truct lng
a r%aterviork-s and, sev*3114p systea In -.ind for amid 4'own of tali tope,
which ordinance is now In full force nnd effect, tind foference thereto
Is hereby i-aade ;_,Ith the wims force and effoct as though set out her-itija
In full.
This bond Is payable only from a OPSGLal fund Identified as the
"Waterworks and -J-ewernige (Rnvenue) Bond and interest Redemption Aind,,
of the Town of Fa1rhope, -Inbs'n. into which the,.Fe ;ire to be paid frrm
the (,., 4. �L
f
rose r,�venues to be darivel', ru. the operation of the said anter-
w)rks Raid sewerage s;rstem SAxed sums ilufficient to when dus the
principal of &,ad Interest upon the series of toads .,,f which this is
one, Which fund is to be ap,,,,lied unlely to Lhe payment of the snid
principal and lnterrat aml nolthr thi-, nor the Is-ue of vihich It
fume a part constitute an indebtedness of iviid Town of Feirhope Y,Itliin
any constitutional provision Or stntutoVy limitation of the .Aete of
Alabama.
Said Town of ruirhope covenanta and agreos thnt it will contin-
uously operate zn1n'v&terAark**rnd newer"Ge system, and fix and nain-
-6-
tain suah rates for the services furnii Uod by said waterworks and
sewerage system as hAll be sufficient at all times to provide for
the payment of the interest upon and i)rincipal of this band the
issue of whioh it fr =Ls n part as cn d when the off a b000uae due ,nd
payable, to create a "Bond - nd interest Redeaption '+lord" therefor,
to Mvide t)r the psyMent of the expenses ct adxain1stration and
opor4 tion nand such exponses for the =aaintenanoe of they said wnterviorks
and se erai,,,e syst m necens-ry to preserve the sstur)e In (;ood repair and
working OAer, to build up a reserve for depreciation of the &iid
waterworks Hnd sewerage syst , (iW to build up fa reserve Xor impreve-
.een,.s, betterm-:nts and eaten ions to the saaid ivitaricrks rind sawarae:Me
system ,) her than thd+at-: Yiooess°wry to la,intein the sti a in good repair
find working order.
Under authority of stil d Rich and by the ordinance authors ring the
issuanr,.e of this bc)nd., there has been crested, and rrasited Nand in f'Ivar
of the holder or holders of this 1:, nd and the issue of w ich it roans
a mart, cnd to ind in Pivor of the holder or holders of the coupons
attachrA to said b nds, s sV,tut: ry tr rtg-ge lion;, which is }lereby
recognized m::s valid f nd rind# ag on said welt rworks find se wor€+gee system,'
and sa+id w aterworl. ,- ad se enide sy Aam shall Remain subject to sadd
statutory aortg9ge lien until the pay7aent in full of they 3°rincip€al of
and interest can this bond ane} the issue kc if which It f!�rna a part.
fihis band rang e rep intorA fan to rincipal only In the rv!mo of the
holder can the b-;oks of amid `L"Own of Falrbope in the .-;f3'ice of its Cs.erk,
such registration bsing; noted hereon, by said Clerk, (after � htoh no
transfer nhall be valid unless.-, evades on said b o'ok s Fam' siailxrly noted
z on the bond., but it oiny b , disohnrged from such rcgiatr tion by being
traaiiferred to bearer, raft•mr w riah it be tr-msf8rnble by deliv.-ry
but it may be mgmin, registered a:; baf 1.-re. The rftgits* - ration of VAS
La nd as to rincipnl zahnll not rostmin the nogoti►ability of the cou-
pons by dsl iv : ry :.e rely,
:7►e }lrinc- poles of d Intere t n this :.ond are exe t ate d from ny
and all :states, Oount;° and municipal. ►nd oth_ r taxation whcataoeev,,ir unci.:r
the laws of the Ante <.f ,,haws tom. By itat prof idingfor its is:unna*
this bond is deealared to bb ire all of the qualities c,f n-gotinble in-
str ae its under the Lcaw, i erohant a tthe Negotiable lnstzua,!nt Lew# and
-7-
to be as legal investmujut for execuL rsq administrntars, trui�t.ies find
other 11duciaries tind for n,.ovings banks Gnd insu'ranoe companies or.
,anlze6 under the Taros of the :hate of -.1abama.
IT 13' IMM'413Y CRRTJFI4- # RWTT J) 4ND DSCLA-ItM) that All sots, 00n-
ditions -in4 things required, to exist, happen �md be j-..erfor-.Sd p"-
cedent to and In the is,;unace of this band, have exititod, hh-ve hap.
pened :and Iiave been -,erforjwd In due, time, fi,;rx w2d mannor an requirod
by 1riwg and that the in evidenced by tain bond, as seoured
and authorized to be ;jaidj Is In no way affectod by the li -ttintion
provided in -ecticia f2,25 of the �;onstltution �)f the 6tate %7f ,1nbFriajj
nrc by any other ,)rovisionu of s,Jd r,onStitilt
ion, nor by -.;ny li.-.,Atatipn
provided by L -Itute of the Ant'
s ,)f �*lnbaranq and that a suffict nt a-
mount of the gross revenues cif said watem;rks and stv,,;erage sys*m
has been pledged to and will be set, ,;,jde into said "Bond nnd Lnterest
,�edeaption fUnd'lj by said ?Own of '.b.lrhope for the prompt 3,1,ym-Vit of
the principal of and Antarebt on this 4ond 116 the is.iue of -N.I-iiah It
forays as i-art,
IN �.K T'l th.-,, Town of Fairbope in t -c 4t,te of .1abam
haLl caused this bond to be signed by its Mayor end Its c(irlsornte scej
to be heraunV; affixed, attested by the Towl Clf.,rk !.Fnd the coup ng
horeto attached to be executed 1,vIth the facs ",le signatures of t tw
Vayor and said Town Clerk, whiah officials, by the execution of this
b(.)ndg dn ad,-)ptq as and for tL,.Ir ,)wn proj:,-er sipwaturs, the it respea-
tive faosimile signatures F-ppenring on said c�)upona, and this bond to
be dated the first day of Ju-1y. 1934,
SPAL
A
. I
IrT V3T
. Mayor
20100
On the First day of the Tom of Fairhope
in the 'Vite of
.lebwaq
will j,r-y to b,nrer
the run of 'Jventy i1ollars
20.00) in any
ooln (}r
ourroaay, which
is then legal tender for the
payment of public tend rrlv�ite dootas it tho office of the can Treova-
rer in FAIrbopo, Aabama,, ,gut of the rks aiid .',ewerago Syst4a
I
(Tlevenu,i) *Bond and interest Rude wiption :und" of the 1'om of 114irhopeg
:aabcmal b, Ang six (6) Jacalths' inteen rost them due on Its watorworks odd
sewerage 'Revenue 'Aond No__..s dated Tuly 1st, 134,
This cou c'n has b son issued undr.,r the . rovisions of > Ot No. 102s
Goneral i' ults of Islaw-z,approvad Harch 2°1,;,, 1933, rind dDeis not constitute
an indebted �ss of said 17ovon of Fairhope %-,Ithin toy 1sate constitutional
provision or statutory 11 Mation of the.Mite (-T -1abf,4iaj
k rr 7�.1-5T:
TRa Clerk#
7 r I Ayor
OR llwu$T� ,,ATI(-;N)
13 the request of the holdel-, the within bond to hereb,,, converted
Jnto a registered b,.nd, but as to principal Inly, --nd shn1lbe 3-wynble
(sis t,i principal , my) to th--, registoxed hold r or V% his logm.1 repre-
santativo, ,,,rovided that it may be discharged from such r ogistrrti A
by -being transferred to bearear, after whlol'-14 It sho,11 ngs In be zra,.-ks-
fornb1o, by delivery, t may, however, be agalat registered a b of , -.re.
j."lated at Fatrhope .Libiarms.
frhi a day of
Ditto of
.0isistri4tion in wbose tr'ime rgistered -Apature Of ."IkL
(?,RM OF CXRT1FLC;,T-K UY ATTORMAT OMMUL EX.-
01rY1010 B(JINT; C *1Wj:".,3*j0N97P UY WS STATI OF ALA-
BAKAg to be printed on the back Of 064h band )
OFF,rCse OF THE ATTI';-,-'x N GZ'1XP-AL ICI{ SON" COM-
'0103.10NiS OY THE' JT,T8 CIF ,�Lr�3!?4A*
Montgomery, 1'q bW.J. el t
I hereby e,?rtify that I have wwmined a certified copy t
res�ord ,,f .,rocoedings token prelii*nary to and In the issuance ct the
within oond -ind the series of W Ich It forras a p6rt; tbat such jx�o-
osedings J-,md such bonds show le ful authfirity for the ls:;ue of suld
bonds, Ond th'AL said bonds are j&gued- in a000rdanse with i+ete Noi 1020
I
General a cats of Aabwan, approved Waraft 2t4q 1933, jnd i4th the forms
nnd faethods of -rocedure prese .-ib o-d and .r,rovidee by no for the
IssuAned of bonds of like -kind; end that said bond Is valid and
binding olligation a0cording to Its tenor nod terns, xrici, Under
the provisions of eatton 3.5, of s,.'Ad at. ""o. 102, requiring the
oartificate of the Bond Comisgionar (,,jf the tote of -aaba'K'A Wiereon
is Ino..,nt eatable in any court in the Anto f ,,*Labwna� unless: .'Ult
t?:ereon shell be br,)ught in a a ourt kviving jurisdiction oil the sone
ithin thirty (:50) day_- from the data ,�f '61.As tj,r',,roval of srA6 bond
appenring In the caption heroto,
A V! r,
Ea-(ffiaio Bond ommlssioner of the
ix.,tate of .�labf,3ma.
.'eation 6- T'hat there by an.d there Lire 1-.ereby esta'Olished rate*
for serviaes furnished by said �aterwurks and Lewerage system as
OF A"11M PATSS*
rlet rates
SIX room 07
t4c,ddltional rooms a:)ove
Tub or shower
,,Ldditional Wwwor )r tub bath......
Toilets .............
..ddit ondl
Cutside
.ddltion,ql oit aide
Meter rates
Lat
.f,xt
3ext 5 9,
Ne.4 t 3811. GaIlons.....
3ext 50
101 or more Callora
&W�RiWR' RAT.,
Per ... #**9#
per
year
,75
per
j:e ;
ench
3.00
I-er
yetir,one
2.21)
par
0 enr
each
4'.00
'o e, i
yaor,
,;no
2, 25
'11ar
ye;,ir
onsh
3,00
per
yelir,
one
.75
per
year
oaah
,30 err VA « Gallon
.25 per (,4illon
,)or Gallon
.18 �er • ' 'i!z Ilon
15 or. ("tallou
1 ""' -)r " 0a 1, 1pn
012,00 per year.
No freo service ahall be furnished to tha Twwn of Fairhope, Md
Vhe reasonable oo&t and v,-.Ilue of -my vervic readered to the Tcvm cf
Fairliope by the said watarwrks and selera;e sir stem (including fire
hydrant ren%j,-js) sh 11 be abarged against the Tpun of A.raope, and
shall be paid for by t mr;nthly frora the corporate funds ttoreof as
the servioe accrues, ss providea by �Oction 18 of baid .,at.
-10-z
If, Fit any time, than rates fF.xed by this ordinance shrill not b
sufficient to provide .for tho payaont, "hen dufar, of th interest
upon and principal of tho boti4a herein authorized to be issued, to
oronte th,,p `,;;ond sand intgr,�*st -�;>edejaptlon Yundw ;.esoribad in thia
nrdin--nc,,, to provide Orz tine ;jayaont of exponses of administrations
!-ad. oiler � t ion zind such a rx pena;ess for Lwi intonaarw a of tits wAert orke <ind
:ceaworages system n . uossary to preserve this awas in oz;()d rel:=lair and
uorking cr(er, to build up a reserve for depreciation U. the t, :ter1vor,s
and ao*orQge syutesa and for Improvementa, botters:aaantas, and extensions
thereto other than those ne easerary to maintain the BW: is in V ejad reipair
and working orr sr, the Tvnm Count tl of the Town of � irhope hereby
o vengnt:u slid sgr,_tis that it will, tit once, Increase the. raterflied
by this ord intaneg s and w Ill ma lnV- In uch ragas for racer less f . rnished
by such wa t e r%o r s and s a era ge say st ell ;arc th r, t the same shall be
suffiaient to provi,,e sc•e.- usate ra3v(Muo s`,.r salts purpOsesae
t tqw 11 Lra a W it hereby is wade the duty of the proper officers
of ,%a id ,own or rr. irhop,' to install a water stater for coach user of
water and for each scidi tionel user at the time service i.< inn tilled or
as sn,,n thereafter as feasible, which said truster shg1.1 be +eyt in
g .od state of repair rand atha 1 be read once each month by as duly
aondt ituted &gent of an id 'sown of U irhops and such ;aeter reading
shag ll con., t it ut ea tho basis for computing charges under the foregoing
schedule. °sills for water service shall be rendered oacb month and
anj consumer failing o= r€sfussin - to ,pay his bill within t.eu . (10) days
subsezz�seaut to it . rendition, shall be tin ed th^ lane of V� water
.trots said waters .rks s atom, -nd it is herev., constituted ,L.Lo duty of
the said Town of %. Irhope to shut orf the wtater supply to mny such coa-
stator until uc:h time no all past due bills, tcagctthtar ea itx, a service
chnrgn of ��n>e #)ollnr (x1.UCi) for restoration of water ,�ervloo, care
paid.
it shall be "nd it hereby is made the dotty of the proper officers
of said Town of TrUrhope to inspect th, j 'prealsee of each proposed user
of seserogea sarvio�a beforo ca c3o„ Leacs ion Is node to they ssev,ers,gea eye-
tem r.:nd thereaftor to make 1n-;l;eoL1on of the gxemisae of all users r,f
ereere►g® servie;e not Joao often th<gn once, each year arts, ffsore 'frera ieritly
cheat, nec:e.43ary, to daatexminea the. num-b--tr and typo of plw-,shag fixtures
installed thy: rein nand connected to ssaiet :3e-,,ea3s"aagea as - sstdu for the pur-
,Huai er. rrixLna s►ataat and casst�FauiriraP char _>t�d tt t ..1
sahedule, Bills for sawerago serylee &hall be randered esoh month,
payable In advance, ind any (-on:-,'Uzrnxor falling or rofuslag to pay his
bill -.-,1thin tan (10) days subE;1,i u wit to its rendition sht,11 b denied
tile use of sewerage system, find it Ls li'-'reby Gon.-tltuted the duty of
said Town of Fa1rhope t 3isconneot Vis pr*RiseB 0" such consumer
from tho sewerage syst;= until such ti:ue as all post dkis bills, to-
ther At aervia- charge of Otis Dollar (w1,00) for restoration of
sewerage service, ire paid.
Sootion lai, "that it is hereby tw,de the duty of the Tcjvu Clark
of said Town of ftirho')o V, render bills for water d sewerar ,o uervice
and till other charges In connection the"Withs wind to ,olluat ull
moneys due the"On.
: a
.Jection 10. That ench, Al and every of th? ftnds nth moneys
derived from or Incident to said waterworks and vo,,',evige ,qotem shall
bo hold by said Town Clark in !� fund .11,6POWAtt- and apart froh, his privet*
L
funds nud separate and apart frov. rll othor funds of the Town of
Fairhope, and R11 of the swo, it1k., lit any 6,eduction, shall be
delivered to the Oustodlan hereiatftor ;,rovldsd for, not mwru, than
ten (10) days subse uent to t he r�)oei t of same. rant' fit sunh more
fre,-juerit Internals as m,,y, from time to t,imnj, be proscribed by
ordinqace of this ":`own.
I m
.ection 11. That iXior to t',1_4 goesipt of any funds � aerived fro
the operation of said water, ,vor�s &W Seve"66 S1.PStf= the Town Clerk
of said Town of Fairhope shall, In every year, exeoute a bona in the
penal su-'.i of
at
least d,,Uble
the amount
or any suot.,
ruxids that
he
will
hLAvo on head
a t
any one:
than
duri.-ig trio
yetirs w1ilch
said boitd
s
Al
be conditionod upon his filithful scoounting for such funds end which
said bonG shall be UbjeCt the uj,,,-uval of tha Kayo: c;f ijaid Town
04 Fairbope.
-A the 711, i;:,
,..ection 1!. � 'archants --:atI0nftl fiank of jo.obile, Alabama,
a bank or tru.it aaap•�ny dUly (Ittalifled and doing. busLiv..,os ith t,he
,,tote or Alabnmp.', a mercer of the ederal 74ioerve systcm and ropier Of
f ,q;nl�.Iad in viriting,
ti)e i-ederal 'Leposit Insuranoo corporfitiong linvin s
to tho Mayor of .:"Id loan of 'i-iArhopes its a0ae;Aanao of the oustodlan-
ship of the gross revenaos t, be derived from th,� operation of sald
witor-works and yetem, nd any of :�ar funds oAf the Town of
A
- 12 -
irhopo s"plonental to the (j..-oration -izid luininteminco 7ound, the
!�oprecliition and and/or the Contingent 'Urid hornivaftor described, as
evidensod by written contrnot dated
approved by the. Town '!'ouncil b reso.lutlo adopted
19,s said Merchants 3t.ALoaal 3tink of 140bil 9 Adba 9 is hereby
desigiiatod Custodian of sueh rovonlaes and other funds. -11 of isid.
gross revenues and other funds shrAl. -j8 in this ordinance , rtyvided for
be deposited with ax ch Ouatodlcu-i and be Piet ,:apart by .uch ustodian
Into the mpproprint..., tund or fund; deal.&;Aa ted In -oction 14 of thA
.
�
ordinanool pursuant to written Initructions frora such Town of Fairis -pe
which Instructions shall be given moUthly, or oftener If necessary,
and aliall be In occor! ith the terras uf this ordinnnoo and sold rat,
and each and all of goid de-nid.;istod Yundo Shall to Impressed "r. Ith a
trust ja so,ord Ath .octlon 24 of said abet.
..action 14. That in the (:.;veat tiie �;ustodian nz.=ned in tus ordi-
nance shall bsoorae Insolvent or be in the pr000se of dissolution, the
Tore council
hereby
undertaken
to appoint a
succas-or -W aid
Custodian
at once with
all of
the rights,
powors trod
duties provided
by
law for
the Custodian designated in this ordinan000
eotioa 14* -1`hat frota and after the dell ery of my bQnd issued
um or the provisions of this ordlaaace the be Id wetter' ork7t, :,n6 seor gt!
system of sold Town of Fairhops isiiall be operated on u fiscal year
basis commoncing on July lst of each ya,,r �;nd ending on June 30th of
the :following year and on that basis the Irrjsu revenuos of said wuter-
works �,.,nd sewerage system are Aereby plodg-d and ordered to be Set aside'
and L;ald monthly Into separate and spoeial funds as follows $ to -Witt
There ahall be end the" to hereby created a ftnd tiesignated "'�=ater-
works and jewerage (,Revanue) Bond and Interest Redemption Fund" of the
Town of ioirhope, lab�ninq (herainaftor called the "Bond FUnd")v 911d
there are hereby jedeed tied ord,sred to be .cot aalde and ;laid Into said
Bond PUW (monthly) from Lhe gross reven"e of sr id vmtorwor�.,,o and sever,ge,
system, suffial-,,nt :iums to raise tie follovang yearly amounts, Unmelyo.
For the 'zrinonl ye,3r
'..!or principal
For InterestTote.l.
eadMi; July lot:
1935
00.00
43640.00
23 40.00
1936
2000900
;5640,00
1937
2UO0,00
3560.00
5-M0.00
1938
1939
3000.00
3000,00
34W 00
3360100
64F30.00
6360*30
1940
3000.00
MOAA OU
6240*00
J.941
3000.00
3120000
6120.00
-lZ-
,or the -fiscal .70,.ar
For . rinci2al
arm: qgg: Xuly lst:
LA2
V3000*00
lV43
Z000100
19"
30U0.O(;1
1945
16000100
19"
3000.00
1947
3000,00
19W
5000,00
1949
3000SOU
1950
3000000
1951
.3000,UO
1959
300000
1953
3000,00
1954
3000,00
1IJ55
3000.00
1956
3UOQ 1 00
1957
3000*00
195B
3000000
195.0.
40000UO
1960
4000.00
1961
Ai000.00
19 6.2
4000100
1963
4WO000
1964
4000.00
For intereal Total
43000.00
46000.00
2B60000
5W10,00
2760.00
576O.U0
2640.00
"40,00
2520.00
9520000
24UO.00
5400.00
2280100
5280.00
2160.00
5160.00
2040.00
5040eUO
1920.00
4;'20, 00
1800,00
4800,00
ialo.oc
4WO*OO
1560.00
4560*00
1440100
4440*00
L:,:V*00
431!1'0000,
1200.6-0
4200*00
1080.00
4080,00
960900
4960*00
F-1 00 000
em.00
640.00
4640*00
480.00
4480.00
.20,00
4�20.00
160000
416000
rovIded however that eaotj the some am-)unts shill be incrons-A
by twenty per
centum
tbie-1*,00f until
the anount, of such emee-s
paymmts
shall at lust
e(ival
the amount of
interest on and principal
of the
bonds which, will mature within the sucooedlag f1seal years.
The omoount by which any auvh Poymont In tiny rimml year o"eeds
the aggregeta imiunt of interest )a and principal of Said bowls be-
coming due In 3uOh yeit -hull be 'hold in avid i3ond !AW as * reasy rve
for ao.atingencips and used solely f-ts Auerain provided, Provided, how-
ever, tilrtt no narthor payments need be Add into said Bond FwW after
such amount of the bonds shall 11inve been retired thtit the um1unt then
held therein (including the rss-�rve for contingenctsis) is equal to the
entire vzourit of the inture,..t and principal that will be oyable at the
t1YAa oil' the ioturity of rill the bonds then remaining outstanding.
If in qwl f iscal yoar the Town of io 1rhope f or a y resson s heLl
fall to set apart and pay into) stild Ttiond �'�Uod the full. 9WUnt above
stipulated, then an Mount equivalent to such deficiency 6hG11 b9s#St
npart and paid Into :said Bond �Vtd frrxa, the first avallfible gross
revetwes of the following fiscal year or y*tirs, And same slv.11 be in
addition to the zat)Unt othor vise herain provided to be so set fjpart
and priid into said Bond .,'und uring such succeeding year or ywirs*
If, for nny roes -)n th..• Tot a of Fa1rhope shlzll VAl to make any
-iuch agent into sold Bond '4und, as aforesaid, during my fifiaal year
-14-
any swag then held as a reserve for contingencies shall 0 a used for
the payment o 'L the interezit on or principal of se, Id bond becoming
clue in such fiscal year od %:1Aah 1,);:nds there w,-xld oth rwise be de-
fault, 'Jut suoh reserve shall be roinbursed t1wrefor fron the first
available ;7eymaat ;iade ;.nto acid Boix, and in the folluwIng fiscal
yer,ir or yeas in exoonzi or the required palum% Vr the than cl.urrent
flsoal year.
.11 wneys hold in said i'tond Fund in excess of u sun "al to the
total of tie a -xt riaturing, sm4annual Interest on outstanaing bonds
issued under thib ordinance: chid tiny principal rauturitios thereof pay-
able ithin a year from the date of calcul;,Alon shall be Inveatod by
.laid Custodian ,.;i Truste4 for the Ik)wn of irhope In direat obliga-
ti,.Jns of the United ,Mates Government so far e.: praoticalle and any
such excatis not *o Invested shall be continuou.,ily secured by & valid
pledge of at least an equivalent principtil amount I.iroct obliga-
tions of the United .3-tes Govornment, Provided, howver, that nothing
herein shall prevent sale of o aufficii-ant eiwnunt of ,such obligations
In th;3vent that It shall rove neaoratir7 to dravv upon stiid reserve
for contingencies.
�'>ursunnt to -ection 22 of st,"id -at, there tire hereby crested
�I
funds de3igaated rappeatively, "Operation and Ulisintenance FunV,
"Depreciation 1ruad" and"Contingent FUnd", and th4ire are hereby led; oLd
find ordered to be not aside and ,,a id into the stAd l'unds tvjnthly In
e6ch Asoal year from the retwining groar, revenues and in the fbllokng
order:
(a) sum sufficient to prr)vlde for the payment of all resaonabl.l.,
i onses of &&-Irtist Lion, open, tifon , n(i -such expenses for rmintenanoe
as -nay be reasonably necess, ry W prwi,,rve Ihe systen in good repair
end working �.)rder, such fund to be desi, ,mAod "Operation rind ainton-
ance 4und"o.
(b) . -=a sufficient to build up �i ieasonable reserve for de-
precint i.orn of avid system, such ftnd to be designated Dapree.l.ation
Fund -0 ;
(a) � sum sufficient to build up a reasonable reserve for In-
proveiv.."Ints, betterments and extensions to auch s',Atwti other then those
expenses which are reasonably neoesst.ry to maintain tho s4vie In i;rjod
�
repair rind warking ardor ea herfv ribeftre i,rovided fbr, rzuch fund to
h-e designated "Contra; ;rant ',,'uad'lq sunh 1', ads to be used in !.,ccordna;as
v Lth the ro, uIreewrits of �eotloa 22 of -it) id at.
""'ection 195, Thnt the 'Zown Clork of said FAirbope shall Install
nd maintain a Proper ;ystam of books of records toad accaunts (sppa-
rate from All other records and aecimats) ind shall arfom such duties
In con.noction therewith an re-utred by .,00tion 30 of said -,at; and the
To$vn of 'Ilnirhop* will furnish to tho (`k)vernmrnt, so long as It holds
any of tho .on&;, and to any holder of any , f the :;cards at the time
outstending, at tho written request.of such holder,, tint more thmn
thirty dogs after the close of each r.r�nthla firical periA, o=pl,�te
operation and inn I'le Stf t-,,rV3Ut$ Of the i, roject In reasonable Beta it
for suah period, °-nd,, not more than sixty days «fter Lhe r:lose of each
fiaoal year, complete finnnal',*1 statements c.1 the w,.,t:..,rworks bnd *owerng
sy-s,-'em ond. the Torre for such yetir, cartif led by the Town Tauditorso
1jection 16s That it Is hereby covenanted and ttigreed by w.3id Toun
of Fn1rhope :Ith the holder r holders or the bonda tierein Puthorized
to be isrued or ;,iny of the*, that such waterw!)rks t,-,nd system
shall be constructed with 911 reasonable (.1is,-atchq thvt all Mr:n8j's re-
oelv*d fro* laord.,; i.,as-ued pursuant horet,), exclusive of accrued intern -A
shall be tv-;) Piied uolely to the co.iatruction of&.1d waterworks and
ysteit and necessary appurtonduces,, Including Fay eagineoriiig,
legal and o.her axpwi�,es incidental theretf, provided Lhat any
unexpended balance of the proceeds of the sttle of piny such bonda re-
maining after the ocimpletion of the construction of acid ud
sewerage system sh8ll Do Vnid im-iadlately into the pond ;'"Un.
d provided
for in ..his rdinance. `)nd the m a :shall be used In accord f4th. �,4otlon
16 of -in Id ut.
17. '11,1r.it it is 1hereby further covenauted and agroed by the
Town of ;:iairhope with Lhe haldo;, or aolders, f the bonds herein autto-
rizod to be issued that it will maintain said iwitori3iorks and sewerage
9-1,stem In :,-,00d condition and operfito tlie sttaa in as of flotent manner
and will parform all dutlea i,-ith r,�fereuce to asid wnterwtorka end vmv�-G-
rage system re,uired by th Coastitutioa and Jt!Autes of the 'VAo of
A&-
.1abama aad that it wjjL.L9 uo Long as any of the hands uva vuboutA4AULMS9
maintain insurance on the for she benefit of the holders of the
boAof a kind --nd in an (4=1.,.unt xl,-Jch wauld usually be carried by
p S. ' business; '3nd the Town
,.,r1vtAe com;-antcs engaged in 6 sirilar type o *L
of fttrhopo hereby Irrevocably covenants, binds and obligates itaelf not
%.,, aortg£Ageo pledge or othemisc encumber the Fro ject or my part there-
of or tiny rovenues them -from ind will ntA sell, lease or in zany rarinner
dlsp,ose of su:h wster%"orks > nd sewor*ge :,ystsii, inoludint-:, tr, y oxt(swii on
or additions'.that may be made thcrato, until ),411 of the bonds ia��4ued
heriunder si-jall have b-)en ;,)eld In full, bbth principal sand interest,
or unles5 alid until provistons shall hav*a boon made f r the full p#y-
raeut of the rincipnl end laterest on said bonds.
,'ection 15. Th.--.t siny holder (.,,f any of Sn1d bonds or coupons IS-
auud hareunder may elth r in la,,%- or in oq%dty, by suit, Action, =a-
dar-,.,as or other proceedings uforce comptl perforwinc=° of =ill dub cqa
"ad undertaking.s, required or provided by this ordinance, lnc�-udixig the
making and pollectioa of sutticient rates for that r'urposo tana the ap-
plication of tea,i 4rose incomo and revenues of srjid watorwjrka end
svo;arage system. ."he holders or ;urchasers of ttot less, than 25 per con-
tura of ths, bonds shall h-,iva the right at fill times to In-s])Oct the SYS-
tam and tall records, accounts Pand data ()f the Borrower relating the reto,
and the Town of 5",11rhope shall furnish to the original :16urohriser or
purchasers ol* the bonds and to any 'iolder or holdei't; 25 Per contum
other information -aiq&
Of t0ho bonds ow.st-1,ading such financial statements -,ad/d.-Aa relciting
to the system and the Pown as tit any tiase- nay be required,
19. Thr-ts ar., provided by .1,oction 8 of said ./oct, fr the
further protection of the hol,,-.ers c.1f the boads herein =iuthnrlzed to
be issued and the c,m-ons thereto ntttched, a strtutory mortgtigilie
upon said waterworks and sev-,r-!9e system rid the ap�,.urteaances thereto
be coast*--ueted with the procioddsof the sag; 'Ld bonds is hereby created
and granted to - nd In f€avt,-.r of the holderzs� Of 38id bonds and (,)f said
coupons and each if them iliioh said statutory mortgage lien is hereby
r000gnized and,,Jehlared to be vFj lid !.nd z), nding upon thri Topes of '7qirhop4
and Bali, the pro;)erty con-stitutlag tl.%4e wutenvorks and aeverage s�stsa
of aald Town of ij_jirhOps L30 to' be roust nested, es provtdod by laws, ;,ad
....................
............ ........................
shall take effect Immediately upon the delliery of ,,3ny bonds autho-
rized to be Issued under the provisions of this Ordinnnce. and
holders of nny of said bonds or of any of the aoupons roresenting
Interest accriod thereon, nnny, either at liar; or in eqviity, by suit&,
aetloh, mandamus or other ,roceedine & a, proteat and criforce the -statu-
t.,,ry m)rtgsgolllen heraby o7,1nrfjrred, -tad zmays by suit, motion, man-
dFi;-,',us !r other proceedings anf!--rce t.-ttad compel perforannoe of all
duti-3 required by said Act, including, the fixing of sufficiont rates,
the col Lection of rev'anueXhe proper segregation Af the revenues of the
wnterworks !md systeni end the proper applia-tion thel-oof,
Provided, however, that said stntutory mortgnge lien shall not be
construed to give any ;.4,Auh bones or coupon holdec to 00r'-
pel the sNlo of such waterw rks and sewerage ayatc-1 or any part thereof.
,If there be nV default In the payment of the rincipnl of ind
inter-nt upon any -f said b,,,ndso tiny court having Jurisdiction in any
proper fjetion may .9p- oint I.. recOlvor to administer and o-,vrate the
waterworks �ind sowernge system, so oncumbered on behl-.,lf of the Tovat of
N
Irairhope x�lth vvjt,,-r to fix and charge rates tend collect revenues suf-
ficient to i-)rovLde for the pr--yment of =any bonds or other obligottons
outstanding igainst said witerworks and sewerage system and for the
payra.-nt of the expenses ,,)f caner ting jAnd MainttAng the an. e and to
apply the Income and revenue of [chid water -works tind nevierf-i e system In
conformaity with snid at end tAs ordinance.
se
ction 90, Thnt sold b�,nds shall be so"d In ch menner find nt
- A.
such tt.;.ea vis the Tom Council of said To�m of F, irhope t3hall here-
afterdeterialne.
="!eotlon 21, Thh% the Town Cleft shall deposit all accrued interest
w4ich he received frpia the sale of the bonds at the time u-,f the pay-
-nient therefor rind zany pn.yuent on account of the Grtint,, which may be
7isde un,,A!er the provisions of the Lorin i�greeaent betty *en sold Town. of
Fpjrhope -.,nd the United 6tateo of Atlerloa, Into the '-fond �und properly
upon the receipt of such :to rued interest or such �ayri;ent on account
of the Grant. He shfill deposit the remaining prooe*de from the. %,klo
of the bonds (whether such bonds tire -old to the r1ov,3rnm.-,nt or other
purchaser or -,urohasers) and the part of the Grmt m—de by ps-yvi ni, Qf
12TIM
money under the provisions of !-,a Id Loan t7, on, nt, -prc*ptly upon the
receipt of such ."roceeds of ;`vymtint� in A zzopurAe account or ae- .
aounts (clach of �uch separate aoocunto herein oal; ad s ,coastrtjevlon
!�coouat',), in a bank or banks high are members of the Pederal Rese#ve
System rand of the Foder,.-A •(-)poait Insuranee Cop)orntion and Which
8kan be 33tisfaelory at .,-ll times to the �Aministrntoro
eotlon R2. Tlipt the bonds her An authorized to be tavued and
from ti-ie to time ,)utqVadtn�q shtAll, not be jptitlOd to 7,riority one
ovft- the ,:.Aher in The npplication of th,_� revenues of sr id rwiterw.-IMIK S
and sewnrom ry p on
.i?iga syst�,r with respeat to tho st tuto vurt , , e It
securing their payment, regardless f3f tht� timo or ti es of their is-
suance, It being the ilitention of the Town of Fnirhope thnt there
sh,,ll be no priority among the 1)�:,nds riuthorized to be isiued under the
provisions of this ordinf)nce rvWird1esf.,,, ;f the foot that they ftlay
!.tiotually be Issued A.,A dolivered fit different tLmes.
That while say of the bonds bheri:by authorized are out-
U t f, PO _,,,ding, t1j,, Town of % ;airtlope will not Issue e*y additional bonds y-
ob 7 a
J., fr(= 'he revenues of the ssid vatorworlrs --nd sewerage systeM UZ-
leor the lien of riuch bonds on the revenues of such uystem ap improved
or extended in made Junior -Ad aLbordinate in till roapeots to the lien
of the tx)nds m-ithorized by thlK,, ordinance, This provision shall Inure
to the benefit of -,,nd be enforceable by any holder of any of the uonds
authortz6d, by this ordinance*
t frovisiolm
;ection 34. 'hat if Ov 30stion, palmgr,,T�h, cl�luse , or
r_.f this ir-atinanee shall be hold to be :invalid, the Invalidity of Iudh
400tioll,paragr&.eh, clouiv)r provisloft A31-'Ot ,, f f t ,o f
-rovigions of the ordinance
3ectlon 2,50 That nll ordinances,, x!osolutiona and orders or --arts
blereof in conflict with the provisions of this ordinnnee, to the ex-
tent of such o,,-.inflict,, are hereby
--ection 2716. Tlint it 1-4 heroby deemed and declared unneoegai.ry
to i4ake Publiantiloa (if this ordin,,-moe, and It sholl be In full Corse
and effect from and itwiedlately sifter its 'passages
(if Y
CLERK'S GLIWIFICAT3
11 9.1"IMS 1.0-vUh-LL, the Clerk of the Town of Feirhope,
do hereby certify that th,-, an,_ed copy of Ordinance No, 120 has
been compared by me -,Ath :!.G. Beebe, ,�ttormy for the Town, nd is
a true and correct dopy of the whole of such Crdinr',nae No. 120, as
duly udopted at and appearing aimag t1'B official minutes of the regu-
lar m�',eting of the Town Council of such Town of Fairhope, held on the
14th day of August. 1934, t-Ind duly approviid by the :"say r F. Northrop
on the 14th day of i'Lut:,Ust, 1934.
IN WITNS38 WHEREOF, I have hereto set ray hand nd affixed the
official seal of sold Town of Fairliope, this 14th day of ...igust, 1134.
( -'!%,L)