6094 PROVIDING FOR BORROWING MONEY AND AUTHORIZING THE ISSUANCE OF $6,400,000 SURFACE WATER DRAINAGE SYSTEM BONDS, SERIES OF 1975

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. . " • . . 18 S meaning of ection 103(d) of the Internal Revenue Code of 1954, as amended, and any regulations promulgated or proposed thereunder, in- cluding Sections 1.103-13 and 1.103-14 of the Income Tax Regulations (26 CFR Part 1), as the same presently exist, or may from ti,me to time hereafter be amended. The said Council reserves the right for its proper officers to �ake any investment of such monies permitted by state law if, when and to the extent that said Secti on 103(d) or regu- lations promulgated thereunder shall be repealed or relaxed or shall be held void by final decision of a court of competent jurisdiction, but only if any investment made by virtue of such repeal, rela xation or decision would not, in the opinion of counsel of recognized compe- tence in such matters, result in making the inteYest on said bonds subject to federal income taxation. Section 8. That the proceeds of the bonds hereby authorized be and they are appropriated and set aside and shall be expended only for the purpose of paying the costs of making the improvements an d e x- tensions to the existing system of surface water drains of the City of Decatur as hereinabove referred to and as shown in the Report and the Supplements thereto referred to in the preamble hereof and copie s of which are on file in the office o.f the City Clerk of the City of Decatur. That the funds derived from the taxes herein levied be and the same are hereby appropriated and set aside for the sole and only purpose of pay- ing principal of and i nterest on t he bonds herein authorized �en the same become due.