739 - Laserfiche WebLink

Home Browse Search

En Page 29 rrrr` authorization and issuance of the bonds and incidental expenses not directly related to the Construction ) , the applicable requisition shall be accompanied by a certificate signed by a duly authorized representative of the Consulting Engineer certifying approval thereof. One copy of each requisition with ac- companying certificates shall be filed with the depository of the Construction Fund, one copy shall be filed with the Manager -Engineer of the Sewer System and one copy shall be filed with the City Treasurer. Upon receipt of each requisition the depository of the Construction Fund shall issue its check upon the Construction Fund payable to the person, firm or corporation de- signated in the requisition. And, the City shall cause each depository of the Construction Fund to execute an appropriate agreement whereby it accepts its responsibilities as set forth above. When the improvements have been completed and all authorized expenditures from the Construction Fund shall have been made, if there be any remaining balance in the Construction Fund, the City Treasurer and the Manager -Engineer of the Sewer System shall file a certificate with the deposi- tory of the Construction Fund, with a copy of the certificate to be filed with the Trustee, stating that the improvements have been accomplished and that all authorized expenditures have been made and specifying the disposition to be made of the remaining balance in the Construction Fund. In this regard, any such remaining balance may be used for redeeming bonds prior to ma- turity or may be transferred to the Sewer Fund, as shall be determined by the Sewer Committee. Upon receipt of the certificate, the depository of the Construction Fund shall transfer or disburse the remaining balance as directed in the certificate. Section 24. (a) That moneys held for the credit of the Construction Fund shall, as nearly as may be practicable, be continuously invested and