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the �� <br />Series '978 Bond ") o.: t e issuer in the p-Y_; rl-^ y pal amount o� <br />Four Hundred Thousand Dollars (5400,000), to be issued in com- <br />pliance with and under authority of the provisions of the Act, <br />this ordinance and the Indenture, which Series 1978 Bond will be <br />payable as to principal, premium, if any, and interest from the <br />First Supplemental Note payments made by the Company under the <br />First Supplemental Loan Agreement and First Supplemental Note and <br />from other revenues and income relized under the First Supple- <br />mental Loan Agreement, or as otherwise provided in the above <br />described First Supplemental Indenture. The Series 1978 Bond <br />shall never constitute a general obligation of, an indebtedness <br />of, or a charge against the general credit of the City of South <br />Bend, Indiana. <br />Section 6. The City Clerk is authorized and directed <br />to sell the Series 1978 Bond to St. Joseph Bank and Trust Company, <br />at a rate of interest not to exceed 7 -3/4% per annum and at a <br />price of 100% of the principal amount thereof. The Series 1978 <br />Bond shall be issuable as a single fully registered bond without <br />coupons; shall be dated July 1, 1978, and shall mature on June 15 <br />of each of the years and in the principal amount as follows: <br />Year Principal Amount <br />1979 $33,000 <br />1980 33,000 <br />1981 33,000 <br />1982 33,000 <br />1983 33,000 <br />1984 33,000 <br />1985 33,000 <br />1986 33,000 <br />1987 34,000 <br />1988 34,000 <br />1989 34,000 <br />1990 34,000 <br />The Series 1978 Bond shall be subject to redemption at <br />the times, under the circumstances, in the manner, at the prices <br />and with the.effect as prescribed in Article III of the Indenture, <br />which terms are, by this reference, incorporated herein. <br />Section_ 7. The Mayor and City Clerk are authorized and <br />directed to execute the documents constituting the Financing <br />