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<br />UNITED STATES OF AMERICA
<br />State of Indiana County of St. Joseph
<br />CITY OF SOUTH BEND
<br />WATERWORKS REVENUE BOND OF 1966
<br />The City of South Bend, in St. Joseph County, State of Indiana, for
<br />value received, hereby promises to pay to bearer, or if this bond be registered
<br />then to the registered holder hereof, solely out of the special revenue fund
<br />hereinafter referred to, -the principal amount of
<br />THOUSAND DOLLARS
<br />on the first day of September 19_, (unless this bond be called for prior
<br />redemption and payment provided therefor) and to pay interest 'thereon from the
<br />date hereof until the principal is paid, at the rate of per cent (_%)
<br />per annum, payable semi - annually on the first days of March and September in
<br />each year, beginning on September 1, 1966, upon presentation and surrender of
<br />the annexed coupons as they severally become due.
<br />Both principal and interest of this bond are payable in lawful money
<br />of the United States of America at the First Bank and Trust Company of South
<br />Bend, South Bend, Indiana, or at the option of the holder at The First National
<br />Bank of Chicago, Chicago, Illinois.
<br />This bond is one of an authorized issue of
<br />( ) bonds of the City of South Bend, of like date, denomination,
<br />tenor and effect, except as to rates of interest and dates of maturity, in the
<br />total amount of One Million Eight Hundred Ninety -five Thousand Dollars ($1,895,000)
<br />numbered consecutively from 1 to inclusive, issued for the purpose of
<br />providing funds to pay the cost of construction and the installation of extensions,
<br />additions and improvements to the municipally owned waterworks of said City
<br />pursuant to an ordinance passed by the Common Council of said City on the
<br />day of September, 1965, entitled "An Ordinance concerning construction ant the
<br />installation of extensions, additions and improvements to the waterworks owned
<br />and operated by the City of South Bend, Indiana; authorizing the issuance of
<br />revenue bonds to provide for the cost thereof, and matters connected therewith ",
<br />and in strict compliance with the provisions of the governing statutes,
<br />particularly Chapter 155 of the Acts of the General Assembly of the State of
<br />Indiana for the year 1929, and all acts amendatory thereof or supplemental
<br />thereto.
<br />The principal and interest of -this bond and all other bonds of said
<br />issue, and any bonds ranking on a parity therewith, are equally and ratably
<br />secured by and constitute a charge upon twenty -two per cent (22 %) of the gross
<br />income and revenues of said waterworks as the same now exist or may hereafter
<br />be improved and extended, which percentage of such income and revenues is to be
<br />deposited in a special fund to be known as the "Bond and Interest Redemption
<br />Account" heretofore duly created; all subject, however, to the prior payment in
<br />accordance with the -terms thereof of -the interest on and principal of certain
<br />now outstanding waterworks revenue bonds, issued under date of December 1, 1960
<br />now outstanding in -the principal amount of One Million Two Hundred Seventy
<br />Thousand Dollars ($1,270,000.00) bearing interest at the rates of three per cent
<br />(3%) and two and three - fourths per cent (2 314%) per annum and maturing annually
<br />on September 1 over a period ending on September 1, 1972 authorized by
<br />Ordinance No. 11321 -60 adopted May 23, 1960, as amended by Ordinance No. 4346 -60
<br />adopted November 2, 1960. The City shall not be obligated to pay said bonds or
<br />the interest thereon except from said special fund, and neither this bond nor the
<br />issue of which it is a part shall in any respect constitute a corporate indebted-
<br />ness of the City within the provisions and limitations of the constitution of -the
<br />State of Indiana.
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