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0 <br />Page 3 <br />Section 4. That the City Council hereby finds and <br />declares that the above rates are fair, reasonable and necessary <br />minimum rates, and will produce sufficient revenues to pay principal <br />of and interest on all bonds payable from the revenues of the Water <br />System, including the proposed revenue bonds to be used to pay the <br />City's portion of the cost of constructing the hereinabove referred <br />to betterments and improvements, as they mature, the paying agent's <br />fees, to provide depreciation funds for replacements or repairs to <br />the Mater System, and to pay the reasonable operation and maintenance <br />expenses of the Water System. <br />Section 5. That all ordinances and parts of ordinances <br />in conflict herewith are hereby repealed to the extent of such con- <br />flict. <br />PAS SED : %" / l , 1965. <br />APPROVED: <br />ATTEST: <br />`pity,, lerk <br />(SEAL) <br />0 <br />