(A) To pay part of the cost of acquiring and constructing the water improvements, including the payment of engineering, legal, financial and other expenses incident thereto and incident to the issuance and sale of the bonds, and including payment of interest on the bonds to be issued coming due on October 1, 1962, and April 1, 1963, and the estimated operation and maintenance expenses for the first six months of operation of the system, it is hereby determined that the Village of Birch Run shall borrow the sum of $100,000, and that revenue bonds be issued therefore pursuant to the provisions of Public Act 94 of 1933, being M.C.L.A. §§ 141.101 through 141.138, as amended, which bonds are referred to in this subchapter as the bonds.
(B) Whenever the words THE SYSTEM are referred to in this subchapter, they shall be understood to mean the complete water supply system of the Village of Birch Run, including all wells, pumps, pump houses, water mains, storage facilities, treatment facilities, water intakes and all other facilities used or useful in the supply and distribution of water for domestic, commercial or industrial uses and for fire protection purposes, including all appurtenances thereto and including all extensions and improvements thereto, which may hereafter be acquired.
(C) Whenever the words PUBLIC IMPROVEMENTS are used in this subchapter, they shall be understood to mean the improvements authorized to be acquired and constructed under the provisions of this subchapter.
(D) Whenever the words REVENUES and NET REVENUES are used in this subchapter, they shall be understood to have the meanings as defined in § 3, Public Act 94 of 1933, being M.C.L.A. §§ 141.101 through 141.138, as amended.
(1992 Code, § 80.003) (Ord. 1-62, passed - - 1962)