Authorizing and Providing for the Issuance of $615,000.00 Sewage Works (Revenue) Bonds for the Purpose of Defraying the Cost of Constructing a Sewage Treatment Works

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Said bonds shall bear interest at the rate of three and one —half percent (32'x') per annum and such interest to maturity of the respective bonds shall be evidenced by coupons attached thereto payable on December 1, 1939, and semi — annually thereafter on June 1 and December 1 of each year. all Both principal and,/interest shall be payable at The Chase National Bank of the City of New York, in the City of New York New York, in lawful money of the United States of America. Said bonds shall be signed by the Mayor of said City, and countersigned by the City Controller, sealed with the corporate seal of said City and attested by the City Clerk, and the interest coupons attached to said bonds shall be executed with the Facsimile signatures of said Mayor and said City Clerk, and said officials by the execution of said bonds shall adopt as and for their own proper signatures their respective facsimile signatures on said coupons. All of said bonds, together with the interest thereon, shall be payable out of the "Sewage Works Bond and Interest Redemption Fund" hereinafter created, and the fixed amount of the revenues of the sewerage system of said City pledged thereto. Section 2. That upon presentation at the office of the City Controller of said City of South Bend of any of said bonds, same may be registered as to principal in the name of the owner oil the books in his office, such registration to be noted on the reverse side of the bonds by the Controller, end thereafter the principal of such registered bonds shall be payable only to the registered holder, his legal representatives or assigns. Such registered bonds shall be transfer- able to another registered holder, or back to bearer, only upon presenta- tion to the City Controller with a legal assignment duly acknowledged or proved. Registration of any of such bonds shall not affect the negotiabil- ity of the coupons thereto attached but such coupons shall be transferable by delivery merely. Section 3. That said bonds and coupons and provisions for registration shall be in substantially the following form, to wet: (Form of Bond) UNITED STATES OF AMERICA STATE OF INDIANA COUNTY. OF ST. JOSEPH CITY OF SOUTH BEND SEWAGE WORKS (REVENUE) BOND No. $1V000 KNOW ALL MEN BY THESE PRESENTS: That the City of South Bend in the County of St. Joseph and State of Indiana, for value received, hereby promises to pay to bearer, or if this bond be registered, to the registered holder hereof, as hereinafter provided, the sum of One Thousand Dollars ($1,000) on the First day of June, 19_, and to pay interest on said sum from the date hereof until paid at the rate of three and one —half per cent per annum, payable December 1, 1939, and semi — annually thereafter on the First days of June and December in each year, such interest to the maturity of this bond to be payable upon presentation and surrender of the annexed interest coupons as the same severally mature, both principal and interest being payable at The Chase National Bank of the City of New York, in the City of New York, New York, in lav:ful money of the United States of America. This bond is one of a series of bonds issued by said City pursuant to an ordinance duly adopted for the purpose of defraying the cost to said City of constructing sewer system improvements for said City under and in full compliance with the Constitution and statutes of the State of Indiana, including, among others, Section 48 -4301 et seq. of Burns Indiana Statutes, as amended and supplemented. This bond and the series of which it is a part are payable only from and secured by a pledge of a special fund provided from the net revenues to be derived from the operation of the municipal sewer —2—