Concerning Construction and the Installation of Extensions, Additions and Improvements to the Waterworks

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Controller shall be authorized to continue the sale from day to day for a period of 'thirty (30) days without readvertisemen't; provided, however, that if said sale be continued no bid shall be accepted which is lower than the highest bid received at the 'Lime fixed for such sale in the bond sale notice. The Controller shall. be authorized to obtain a legal opinion as to -the validity of the bonds from Ice Miller Donadio &< Ryan, Indianapolis, Indiana, acting as bond counsel for the City, and to furnish such opinion to the purchasers of the bonds. The fee of such bond counsel shall be considered as a part of the cost of the project on account of which said bonds are issued and shall be paid out of -the proceeds of said bonds or out of revenues of -the waterworks. Section B. In -the event it shall be hereafter determined that it is not necessary to issue all of the bonds authorized by this ordinance, or the Public Service Commission shall not approve the issuance of said -total amount of bonds, the Controller shall be authorized -to sell and deliver a lesser amount of bonds than herein authorized, in which case the bonds not sold or delivered shall be of -the last maturity or maturities. In such event the amount of the bonds authorized by this ordinance shall be deemed -to be limited accordingly. The bonds herein authorized, when fully paid for and delivered to the purchaser, shall be the binding and special revenue obligations of the City payable out of the income and revenues of the waterworks system of said City according to their tenor and effect, and the proceeds derived from the sale of said bonds shall be and are hereby set aside for the purpose of paying the cost of construction and installation of the aforesaid construction and the installation of extensions, additions and improvements to said waterworks and the expenses necessarily incurred in connection therewith, including the expense incurred in connection with the issuance and sale of the bonds. The proper officers of the City are hereby directed -to draw all proper and necessary warrants, and to do all acts and -things which may be necessary to carry out the provisions of this ordinance. -12-