Ordinance concerning the Construction and Operation of Sewage Treatment Works, the Issuance of Revenue Bonds

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look only to the funds so deposited in trust with said bank,, for payment and the City shall have no further obligation or liability in respect thereto. This bond and all other bonds of said issue shall have all the qualities and incidents of negotiable instruments under the Negotiable Instruments Law of the State of Indiana. This bond may be registered as to principal at the office of the City Controller of the City of South Bend, Indiana, in the name of the owner hereof, and such registration noted hereon by said City Controller. There- after, no transfer hereof shall be valid unless made at said office by the registered owner in person or by his duly authorized attorney and similarly noted hereon, but this bond may be discharged from registration by being in like manner transferred to bearer and may again from time to time be registered or transferred to bearer as before. Such registration shall not restrict or affect the negotiabil- ity of the interest coupons hereto attached by delivery only, but such interest coupons shall always be payable to bearer. The bonds of this issue maturing on April 1 1960, and thereafter shall be redeemable at the option of the City, in whole or in part, on October 1, 1959, or at any interest payment date thereafter, in their inverse numerical order, at face value, together with the following premiums: 1+% if redeemed on October 1, 1959, or thereafter on or before April 1, 1965; 3% if redeemed on October 1, 1965, or thereafter on or before April 1, 1971; 2% if redeemed on October 1, 1971, or thereafter on or before April 1, 1977; 1% if redeemed on October 1, 1977s or thereafter prior to maturity; plus in each case accrued interest to the date fixed for redemption. Notice of such redemption shall be published one time at least thirty days prior to the date fixed for redemption in a newspaper or finan- cial journal published in each of the following named cities: South Bend, Indiana; Chicago, Illinois- and New York, New York. A like notice shall be sent by mail to the holders of such bonds as are then registered. Interest on bonds so called for redemption shall cease on the redemption date fixed in said notice, if funds are available at the place of redemption to pay the redemption price on the date so named or when presented for payment. It is hereby certified and recited that all acts, conditions and things required to be done precedent to and in the execution, issuance and delivery of this bond have been done and performed in regular and due form as provided by law. IN WITNESS WHEREOF, the City of South Bend, in St. Joseph County, State of Indiana, has caused this bond to be signed in its corporate name by its duly elected, qualified and acting Mayor, counter- signed by its City Controller its corporate seal to be hereunto affixed, and attested by its dUy elected, qualified and acting City Clerk, and the interest coupons hereto attached to be executed by placing thereon the facsimile signature of said City Controller, all as of the first day of April, 1954. CITY OF SOUTH BEND, Attest: City Clerk 9 By. Mayor Counter- signed: By City Controller