3140 ARTICLE 14.

1922, ch. 469, sec. 9.

340. For the purpose of paying the interest and sinking fund on that
part of the bond issue covering the cost of water and sewer connections,
as provided under Section 391, the Mayor and Council shall make such
assessment for each of such connections as they shall determine to be
necessary, all of said assessments for water connections shall be uni-
form, subject, however, to revision annually by the Mayor and Council
as costs and conditions may require. Assessments for water and sewer

connections shall be payable annually for a period of years co-exten-

sive with the period of maturity of the bonds out of the proceeds of
which they were constructed; provided, however, that the Mayor and
Council shall establish a fixed uniform charge for all water connections

and a fixed uniform charge for all sewer connections, fully sufficient to
cover their cost and changeable annually, which any property owner may
elect to pay in one sum, at the time the connection is extended to his
property line by the Mayor and Council, instead of said annual payments
for said connection as above provided; and provided, further, that any
property owner, at the time during the life of a connection assessment,
may extinguish the same by payment of an amount in cash, which if put

at interest at 3 1/2 per cent., compounded annually, would yield an annuity
equal to the annual conection assessment for the period for which said

assessment has yet to run. Water and sewer connection assessment shall
have the same priority rights, be payable at the same time and in the
same manner, be enforceable in the same way, and be subject to the same

penalties for non-payment as front-foot assessments.

1922, ch. 469, sec. 10.

341. All sums collected by the Mayor and Council for front-foot and
connection assessments, levied against property for water and sewer con-
struction, as provided under Section 391, the Mayor and Council shall

separate fund and designated as the "Current Interest and Sinking Fund
Account," from which fund interest shall be paid on all outstanding bonds,

and the balance, if any, transferred to the "Water and Sewerage Sinking
Fund Account," as provided under Section 388. The Mayor and Council,
in order to determine the amount necessary to be levied under Section
388, shall deduct the amount to the credit of said "Current Interest and
Sinking Fund Account," from the whole amount to be raised in any one
year for interest and sinking fund on outstanding bonds, and the balance
remaining to be raised shall be the amount to be collected by taxation as
provided under Section 388.

1922, oh. 469, sec. 11.

342. For the purpose of providing funds for maintaining, repairing

and operating their water supply and sewerage system, including over-
head expenses and proper depreciation allowance, said Mayor and Coun-

cil shall be empowered and directed to make such service rate as may be
necessary, chargeable against all properties having a connection with any