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extensions to the waterworks of the City (the "Waterworks") and <br /> all expenses necessarily incurred in connection with the issuance <br /> of such bonds, as authorized by an ordinance adopted by the Common <br /> Council of the City of South Bend, Indiana (the "Common Council") <br /> on the 23rd day of November, 1992, entitled "AN ORDINANCE <br /> AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF EXTENSIONS, <br /> ADDITIONS AND IMPROVEMENTS TO THE MUNICIPAL WATERWORKS OF THE CITY <br /> OF SOUTH BEND, INDIANA, AUTHORIZING THE ISSUANCE AND SALE OF <br /> REVENUE BONDS TO PROVIDE FUNDS FOR THE PAYMENT OF THE COSTS <br /> THEREOF, AND AUTHORIZING THE COLLECTION, SEGREGATION AND <br /> DISTRIBUTION OF THE REVENUES OF SUCH WATERWORKS AND OTHER RELATED <br /> MATTERS" as amended by an ordinance adopted by the Common Council <br /> on the day of September, 1993, entitled "AN ORDINANCE OF THE <br /> COMMON COUNCIL =`vOF THE CITY OF SOUTH BEND, INDIANA, AMENDING <br /> ORDINANCE NO. 8318-92 ENTITLED "AN ORDINANCE OF THE COMMON COUNCIL <br /> OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE ACQUISITION AND <br /> CONSTRUCTION OF EXTENSIONS, ADDITIONS AND IMPROVEMENTS TO THE <br /> MUNICIPAL WATERWORKS OF THE CITY OF SOUTH BEND, INDIANA, <br /> AUTHORIZING THE ISSUANCE OF REVENUE BONDS TO PROVIDE FOR THE COSTS <br /> THEREOF, AND AUTHORIZING THE COLLECTION, SEGREGATION AND <br /> DISTRIBUTION OF THE REVENUES OF SUCH WATERWORKS AND OTHER RELATED <br /> MATTERS" (collectively, the "Ordinance") , and in strict compliance <br /> with the provisions of Indiana Code, Title 8, Article 1. 5, and the <br /> laws amendatory thereof and supplemental thereto (the "Act") . <br /> This bond is issuable only in fully registered form in <br /> the denomination of Five Thousand and 00/100 Dollars ($5, 000. 00) <br /> or any integral multiple thereof not exceeding the aggregate <br /> principal amount of the bonds of this issue maturing in any one <br /> year. <br /> Pursuant to the provisions of the Act and the Ordinance, <br /> the principal of and interest on this bond and all other bonds of <br /> this issue and any bonds hereafter issued on a parity therewith, <br /> are equally and ratably secured by and constitute a first charge <br /> upon and are payable solely from the Waterworks Sinking Fund to be <br /> provided from the net revenues (herein defined as the gross <br /> revenues after deduction only for the payment of the reasonable <br /> expenses of operation, repair and maintenance) derived from the <br /> Waterworks, including the existing works, the improvements and <br /> extensions acquired or constructed in part out of the proceeds of <br /> this bond and the issue of which it is a part, and all additions <br /> and improvements thereto and replacements thereof subsequently <br /> constructed and acquired. This bond does not and shall not <br /> constitute an indebtedness of the City within the meaning of the <br /> provisions and limitations of the constitution of the State of <br /> Indiana, and the City is not and shall not be obligated to pay this <br /> bond or the interest thereon except from such special fund provided <br /> from such net revenues. <br /> -4- <br />