Construction Additions & Improvements to the Sewage Works

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for the purpose of procuring funds to be applied on the cost of said additions and improvements to said works, as defined in Section 1 of said Act. The bonds authorized by this ordinance shall be designated as "Sewage Works Revenue Bonds, Second Series ". Any other pro- visions of this ordinance to the contrary notwithstanding, the revenue bonds herein authorized to be issued shall be junior and subordinate in all respects to said now outstanding Sewage Works Revenue Bonds, dated April 1, 1954. Said bonds shall be issued in the denomination of Five Thousand Dollars ($5, 000) each, numbered consecutively from 1 up, dated as of the first day of the month in which sold, and bear interest at a rate or rates not exceeding seven and one -half per cent (7 -1/2 %) per annum, payable on the first days of April and October of each year, beginning on April 1, 1972. Such interest shall be evidenced by coupons attached to said bonds. Both bonds and interest coupons shall be payable in law- ful money of the United States of America at The First Bank and Trust Company of South Bend, in the City of South Bend, Indiana, or, at the option of the holder, at the Harris Trust and Savings Bank, in the City of Chicago, Illinois, and such bonds shall mature serially in numerical order on October 1, in the years and amounts as follows: MATURITY DATE AMOUNT 1985 $ 450,000 1986 480,000 1987 510,000 1988 545,000 1989 580,000 1990 625,000 - 4 -