Construction of Additions and Improvements to the Sewage Works Bonds

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and retired coincidentally with the delivery of such additional bonds or other obligations, or, as provided in section 20 herein, funds sufficient to effect such redemption are available and set aside for that purpose at the time of issuance of such additional bonds. (g) The City shall take all actions or proceedings necessary and proper to require connection of all property where liquid and solid waste, sewage, night soil, or industrial waste is produced, with available sanitary sewers; and further take necessary action to regulate the use of public and private sewers and drains. The City shall, insofar as possible, cause all such sanitary sewers to be connected with said sewage works. (h) The provisions of this Ordinance shall constitute a contract by and between the City of South Bend and all the holders of the bonds herein authorized, and after the issuance of said bonds this Ordinance shall not be repealed or amended in any respect which will adversely affect the rights of the holders of said bonds, nor shall the Common Council or other body of the City adopt any law, ordinance or resolution which in any way adversely affects the rights of such holders so long as any of said bonds or the interest thereon remains unpaid. (i) The provisions of this Ordinance shall be construed to create a trust in the proceeds of the sale of the Series 1989 Bonds herein authorized for the uses and purposes herein set forth, and the holders of the Series 1989 Bonds shall retain a lien on such proceeds until the same are applied in accordance with the provisions of this Ordinance and of said governing Act. The provisions of this Ordinance shall also be construed to create a trust in the portion of the net revenues herein directed to be set apart and paid into the Sewage Works Sinking Fund for the uses and purposes of said fund as in this Ordinance set forth. The holders of said bonds shall have all of the rights, remedies and privileges set forth in the pro- visions of the governing Act hereinbefore referred to, including the right to have a receiver appointed to administer said sewage works, in the event of default in the payment of the principal of or interest on any of the bonds herein authorized not cured within a period of thirty (30) days. Section 20. If, when the Series 1989 Bonds or a portion thereof shall have become due and payable in accordance with their terms or shall have been duly called for redemption or irrevocable instructions to call the Series 1989 Bonds or a portion thereof for redemption shall have been given, and the whole amount of the prin- cipal of and premium, if any, and interest so due and payable upon all of the Series 1989 Bonds or a portion therof then outstanding shall be paid or (i) sufficient monies, or (ii) direct obligations of, or obligations the principal of and interest on which are uncon- ditionally guaranteed by, the United States of America, the principal of and the interest on which when due will provide sufficient monies for such purpose, or (iii) time certificates of deposit of a bank or banks fully secured as to both principal and interest by obligations of the kind described in (ii) above, the principal of and interest on which when due will provide sufficient monies for such purpose, shall -26-