Acquisition and Construction of Extensions and Additions Waterworks authorizing Revenue Bonds to Provide Cost thereof

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general obligation of the City; and WHEREAS, the City of South Bend now has outstanding certain revenue bonds payable from the revenues of the water- works designated "Waterworks Revenue Bonds of 1949," issued under date of March 1, 1949, and maturing Fifty Thousand Dollars ($50,000.00) on September 1, 1960, and Ten Thousand Dollars ($10,000.00) on March 1, 1961, and the Council now finds that said bonds maturing September 1, 1960, will have been retired, and said bonds maturing March 1, 1961, will have been duly called for redemption prior to maturity, all prior to the issuance of the revenue bonds to procure funds to pay the cost of said proposed improvements, with the result that there will be no bonds of a prior issie outstanding at the time of issuance of said new bonds; now therefore, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Section 1. That the City of South Bend (hereinafter sometimes referred to as the "City "), being the owner of and engaged in operating unencumbered waterworks supplying the City and its inhabitants with water for public and domestic use, now provide for certain needed extensions and additions to such waterworks and the payment of such extensions and additions from the revenues and receipts of said waterworks pursuant to and in the manner prescribed in Chapter 155 of the Acts of 1929, and the acts amendatory thereof and supplemental thereto (sometimes hereinafter referred to as the "Act "). The terms "waterworks," "water system," and "system" wherever used in this ordinance shall be construed to mean and to include the existing waterworks -2-