Section 27-42 Water and electric revenue bond fund.


    There is hereby established a fund designated the "water and electric revenue bond fund." There shall be transferred from the water and light fund and deposited into such fund monthly, sums at least equal to one-sixth of the amount of interest that will become due on all water and electric revenue bonds, issued under the date of May 1, 1948, then outstanding on the then next interest payment date, plus at least one-twelfth of the amount of principal that will become due on such water and electric revenue bonds, issued under date of May 1, 1948, on the next maturity date. Such money so transferred and deposited into the fund hereby created shall be immediately remitted to the Mercantile-Commerce Bank and Trust Company, St. Louis, Missouri, paying agent designated in such water and electric revenue bonds of the city, and issued under date of May 1, 1948.

(Code 1964, § 15.050)