Construction Additions & Improvements to the Sewage Works

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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 the holders of the sewage works revenue bonds herein authorized, and after the issuance of said bonds this ordinance shall not be repealed or amended in any respect which will adversely affect the rights of the holders of said bonds, nor shall the Common Council or other body of the City adopt any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 remain unpaid. (i) The provisions of this ordinance shall be construed to create a trust in the proceeds of the sale of the bonds herein authorized for the uses and purposes herein set forth, and the holders of the 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 provisions 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 for a period of thirty (30) days, or in the event of default in respect to any of the provisions of this ordinance or the governing Act. - 21 -