Authorizing Sale of Bonds Improvement Morris Civic Auditorium

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of funds remaining, the acquisition of land as a site for and the construction and equipment of a fire station; together with the expenses in connection with all of the foregoing including engineering, architectural, appraisal, abstract- ing, title insurance, and legal fees, and the expenses and legal fees incidental to the issuance of said bonds, as recommended by the Board of Public Works and Safety. Section 2. For the purpose of providing funds with which to pay the cost of said projects and the engineering, architectural, appraisal, abstracting, title insurance and legal fees and expenses incidental thereto and the expenses and legal fees incidental to the issuance of said bonds, the City shall make a loan in the amount of One Million Six Hundred Thirty Thousand Dollars ($1, 630, 000). In order to procure said loan, the City Controller is hereby authorized and directed to have prepared and to issue and sell the negotiable general obligation bonds of the City, to be designated as "Municipal Bonds of 1971 ", in the aggregate principal amount of One Million Six Hundred Thirty Thousand Dollars ($1, 630, 000), which bonds shall be issued in the denomination of Five Thousand Dollars ($5, 000), shall be numbered consecutively from 1 to 326 inclusive, shall be dated as of the first day of the month in which said bonds are sold, and shall bear interest at a rate or rates not exceeding six and one -half per cent (6210) per annum (the exact rate or rates to be determined by bidding), which interest shall be payable on June 1, 1972, and semi - annually thereafter on December 1, and June 1, of each year, and shall be evidenced by coupons attached to said bonds. Both bonds and interest coupons shall be payable at the First Bank and Trust Company of South Bend, South Bend, Indiana, in lawful money of the United States of America. The bonds shall mature ser- ially in the amounts and on the dates as follows: - 3 -