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<br /> <br /> <br /> <br /> <br /> <br /> it promptly will appoint a competent and legally qualified substitute therefor, and promptly will <br /> cause written notice thereof to be mailed to the registered owner of this Bond. <br /> <br /> IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and validly <br /> authorized, issued, sold, and delivered; that all acts, conditions, and things required or proper to <br /> be performed, exist, and be done precedent to or in the authorization, issuance, and delivery of <br /> this Bond have been performed, existed, and been done in accordance with law, that this Bond <br /> is a special obligation; and that the interest on and principal of this Bond, together with other <br /> outstanding revenue bonds of the Issuer, are payable from and secured by a first lien on and <br /> pledge of the Net Revenues of said Issuer's Waterworks and Sewer System. <br /> <br /> THE ISSUER has reserved the right, subject to the restrictions stated and adopted by <br /> reference in the Ordinance authorizing this Series of Bonds, to issue additional parity revenue <br /> bonds which also may be made payable from, and secured by a lien on and pledge of the aforesaid <br /> Net Revenues. <br /> <br /> THE OWNER HEREOF shall never have the right to demand payment of this obligation <br /> out of any funds raised or to be raised by taxation, or from any source whatsoever other than the <br /> aforesaid Net Revenues. <br /> <br /> BY BECOMING the registered owner of this Bond, the registered owner thereby <br /> acknowledges all of the terms and provisions of the Bond Ordinance, agrees to be bound by such <br /> terms and provisions, acknowledges that the Bond Ordinance is duly recorded and available for <br /> inspection in the official minutes and records of the governing body of the Issuer, and agrees that <br /> the terms and provisions of this Bond and the Bond Ordinance constitute a contract between the <br /> registered owner hereof and the Issuer. <br /> <br /> <br /> IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual <br /> signature of the Mayor of the Issuer and countersigned with the manual signature of the City Clerk <br /> of the Issuer, has caused the official seal of the Issuer to be duly impressed on this Bond, and has <br /> caused this Bond to be dated February 15, 1997. <br /> <br /> <br /> City Clerk Mayor <br /> <br /> (CITY SEAL) <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 7 <br />