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<br />z
<br />? ua.ici Z1tility and to l.eave an amount of rever.ues adeclaa4:.e j'or l,he prir.r-:? 'n-zl a:Id
<br />itli;Fre..-,t? dCbt SCY`V1CC Y'eSeZ`V@ 321d Y'Cpl3.CC::1e'.1t arid 1.::1oT'OVC.;iC71't; Y'ei7U.1.Z'C7:^i'li::3 Gt i;:
<br />Out.;tr.wndir.g Isslie and to r,eet the rcqu:iremc:: ts herein? »rovidccl wi-1:%? rc:;1 c;c Lt-a the
<br />.Iraprovo-n.^ni: Bonds, and otherwise to comply -w-LL-h the cove?:.:_4.nL ; f.crci:: nroviclr`d j'or,
<br />at:d tl:a-c it is necessary forthwith to issue ar.a „eil 'u-he .T.;r.nrovc;r:ont p,onds in Lizc
<br />??: ??zlcipal arrDun?; of $123,000 and hf:.vir<.; the tcrr:? provid.eci ror herein, Uhe nroceed.?
<br />to be used for the Pro;!ect and purpose:a inci.dental_ ti:eret;o and incide:.t:al. -to ttie
<br />issuance and sa:1.c o!' sa:id Zmprovement Bonds, and, tc ':,hc c:t t-cnt o,' any b:.;,l_ancc a t'tex•
<br />pa,ying or prova.dinG f.il.ly for the foreggoir.g, '.'ar p:syrr.en ? luo tile Bond Ec ,crve Accourit
<br />of the Bond Flznd.
<br />•;'.,ection 2. Terrry of Improvc:nent Bor.d:,_. The Ir.iprove,:.e: t T3onds Uhall be
<br />in-ii;ialli issued in coupon or fzl.ly re?istered forr,i as W?ay be requcsted by the Fi.scal
<br />Otl'icer and shalJ. bc exchan ;eable for ftiilyy reaistered or coupon bonds in the
<br />nanrier and on the terrs, provided i:1 the The :Lnprovcrm-ant Fsonds in coupon
<br />ior;n shall be dated October l, 1965; siiall be in the denc:r.ir:at;ion of G:ie Thousand
<br />Dollars (y l, 0OG ) each; and shall be regis trable as to prirlcipal; The I.^i_r,roverr_nt
<br />Bonds in ?r'u1.ly regis;:ered forra shall be in the r.eno:ainatior_ of $1,00-0 or an-
<br />multiple thereof. :?.rnprovert?nt Bonds i:?c-ot':z coupon wnci re?-? :tered fo=:?: shall be
<br />numbered as determined by the Fi: cai oiricer. r_7,::e Ir,:pro,.?erc:.=:? Bond? shall pe,3r
<br />interest at the rate per annum of four ar?d one-nuar-ter ;:-,cr cent.zm 14-114';'l j, sucii
<br />interest to be pa,yable sem-a,nnvally on Ju..-ie 1and December 1 of each yea: beZinninc
<br />December l, 1968 on bonds maturinL-1 in the years 1970 to 1987, Lr.cl.usive, and
<br />be3inning December 1, 1969 on bonds maturing in the years 1986 to 19;0, incl.usive,
<br />until the principal sura becot.ies due andlayable. 3aid Znprovement Bonds shall
<br />m-ature annua,lly on December 1 in their cor_secutive numerical order as follows :
<br />AMOUNT 1'EA.RS
<br />$4,000 1970 to 1974
<br />5,000 1975 to 1979
<br />6,000 1980 to 1983
<br />7, 000 1;?8)L t0 1986
<br />8,000 1987 to 1989
<br />9)000 1??o .
<br />T!:c Imnrovernent Iionds shall be subject to r::c?c:nyption -i~i '.yizo]_c or in part ?r.
<br />:i.nvex•se r.un?riea,l order or, any interest pay-:r:c::?t dwte ori «?:cl at';er De:ce:::ber l, lyE ?'
<br />•..?,:.?a.
<br />at rar plus accrucd in?eres?; to the u a,te lc?. ior rec?u.r,l.tio.;. _x. eU> ',r-ived
<br />the hold-cr, notice of redemPtion splcifyinr, t'.le nuirL_-_ s o:' Bond:: ancl
<br />(portions of flzlly re,-,,istered Tmproveme°i t Bonds) to 'be ?a lie<y ::'--a:-l b° ;,ubl?:,ned
<br />by the '1'xVustee on behalr of the M?Lnicipa-yity orce aaee:`- consecutivc ?ace:ks
<br />in a financial journal of na,tional circula?ion, the iir:.t publicu tion :;o be not
<br />more than forty (40) nor less than thirty (30) da;,'3 pr :o?=' ?o the c1a. -Ue of redemp twor,,
<br />upon which date a.ly interest upon the l:::r,rcve:nent Lands or nortions tilereof so call--d
<br />sha11 cease except f'or those as to which dcfaur.t s'.1a11 be upo:: preser;tation,
<br />iiz the payrnient ar the redemption price:.
<br />1'?^inci-r«1 and interest on the ?p-rover?nt BondJ Jhr?,l- o?? ps;,rable at the princi.pa]
<br />Oii:iCo Gf 'L:ie irUStee her.einafte: pT'OVidCC?, for, C:YCEpt tha,t i11'teicU't 011 fulZ.`f
<br />reg-i??t,erk-.d improvc:::e::t BondU sh"ll be na,yable by check or draft a:; proviaed in the
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