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

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Treasurer shall collect the full amount which the purchaser has agreed to pay therefor, which shall not be less than the face value of said bonds, plus accrued interest from the date thereof to the date of delivery. The bonds herein authorized, when fully paid for and delivered to the purchaser, shall be the binding special revenue obligations of the City, payable out of the revenues of the City's Sewage Treatment Works to be set aside into the Sewage Works Sinking Fund as herein provided, and the proceeds derived from the sale of said bonds shall be and are hereby set aside for application on the cost of acquisition) construction and installation of said sewage treatment works hereinbefore referred tog and the expenses necessarily incurred in connection therewith. The proper officers of the City are hereby directed to draw all proper and necessary warrants, and to do whatever acts and things which may be necessary to carry out the provisions of this ordinance. Section 7. Prior to the sale of said bonds2 the City Con- troller shall cause to be published a notice of such sale once each week for two (2) weeks, in The South Bend Tribune and Tri- County News published in the City of South Bend$ and one (1) time in The Bond Buyer, published in the City of New York, and one (1) time in the Indianapolis Commercial, published in the City of Indianapolis$ the last publication to be at least seven (7) days prior to the date fixed for said sale. The bond sale notice shall state the time and place of sale, the character and amount of the bonds9 the maximum rate of interest thereon, the terms and conditions upon which bids will be received and the sale made] and such other information as the City Controller and the attorneys employed by the City shall deem advisable. Said notice shall provide, among other things, that each bid shall be accompanied by a certified or cashier's check in the amount of Fifty Thousand ($50,000.00) Dollars to guarantee performance on the part of the bidder, and that in the event the successful 11