Construction Additions & Improvements to the Sewage Works

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cable pledge of and shall constitute a charge upon all the net revenues (herein defined as gross revenues after deduction only for the payment of the reasonable expenses of operation, repair and maintenance) of the sewage works of the City of South Bend, including the existing works, the improvements and additions herein authorized to be ac- quired and constructed, and all additions and improvements thereto and replacements thereof subsequently constructed or acquired; sub- ject, however, to the prior charge against and payment from said net revenues of the principal of and interest on certain now outstanding bonds designated "Sewage Works Revenue Bonds ", dated April 1, 1954. The City shall not be obligated to pay the bonds herein authorized or the interest thereon except from the net revenues of said works, and said bonds shall not constitute an indebtedness of the City within the meaning of the provisions and limitations of the constitution of the State of Indiana. Sec. 6. The form and tenor of said bonds, the interest coupons to be attached thereto, and the form of registry endorsement thereon shall be substantially as follows, all blanks to be filled in properly prior to delivery thereof: UNITED STATES OF AMERICA State of Indiana County of St. Joseph No. $5, 000 CITY OF SOUTH BEND SEWAGE WORKS REVENUE BOND, SECOND SERIES The City of South Bend, in St. Joseph County, State of Indiana, for value received, hereby promises to pay to the bearer, or if this bond be registered then to the registered holder, solely out of the special revenue fund hereinafter referred to, the principal amount of FIVE THOUSAND DOLLARS on the first day of , and to pay interest thereon from the date hereof until the principal is paid, at the rate of %) per annum, payable on the first - 6 - per cent