The daily monitor. (Mount Clemens, Mich.) 1940-1942, 1942-01-06

Section 9. The bonds herein author
lied shall be sold In the manner pro-
vided in Section IL of Act No. "a OF the
Public Acts of 1888. as amended. The
proceeds of the sale of the bonds herein
authorized to be issued shall be deposited
in q special account in National Bank
of Detroit, in the City OF Detroit
Michigan. which bank Is q member OF
the Federal Reserve System, which de-
post shall be secured to the satisfac.
ton of the Township Board of said
township.
Section Z. The holder or holders OF
said bonds and coupons representing in
the aggregate not less than 20cs of the
entire issue then outstanding may, eth
er at law or in equity. by suit, action.
mandamus or other oroce edings. protect
and enforce the statutory lien upon the
revenues of said water supply system.
and enforce and compel performance ~
all duties of the officials of said town.
ship, including the fixing of sufficient
rates, the collection Of revenues, and the
proper segre CATION of the revenues of the
water supply system and the proper
application thereof; provided. however
that said statutory lien upon said rev.
enues shall not be construed to give
any holder or owner of any bond or
coupon. authority to compel the sale of
said water supply system or any part
thereof.
Section Q. II there be any default In
the payment OF the principal of or in
terest upon any of said bonds any court
having jurisdiction in any proper action
may appoint receiver to administer
and operate said water supply system on
behalf of said township under the di-
roction of said court. and by and with
the approval of said court to Tx and
charge rates and collect revenues suf-
ficient TO provide fer the payment c:
any bonds or other obligations outst and
t~~1 wx-A
and for the payment of the expenses e.
operating and maintaining the same.
and to apply the income and revenues
of said system In conformity with said
Act No. % of the Public Acts OF lc33.
as amended. and this ordinance. and IN
accordance with such orders as the
court shall make.
Section 8. The holder or holders of
any of the bonds or interest coupons
herein authorized to be issued shall have
all the rights and remedies given by
law and particularly by said Act No. 81
OF the Public Acts of 1888 as amended:
for the collection and enforcement OF
said bonds and coupons and the security
therefor.
Section 10. Said water supply system
shall be operated upon the basis of a
fiscal year. beginning April LIST of each
year.
Section IL. Charges for water to re
furnished by the township to each
premises connected with said water sup
ply system shall be computed upon the
basis of the water actually consumed
plus the service charges hereinafter
specified. Each premises shall be equip
ped with a meter installed and con-
trolled by the township. That portion of
the water charge based upon consump-
ton shall be as follows for each month
ly period. to-wit:
For the first $500 cubic feet =
For the next $500 cubic feet
For the next 5000 cubic feet
For all over 10000 cubic feet
The monthly service charges which
as TO each premises. shall be as follows:
For premises equipped with $.
For premises equipped with "a