5675 AUTHORIZING AND PROVIDING FOR THE ISSUE OF $8,000,000 WATER REVENUE BONDS

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, . � . regular and due fornn of law, and that provision has been made for depositing in said Water Fund the revenues reCeived from the opera- tion of said waterworks system to be applied in the manner as herein- above set forth, and it is hereby covenanted and agreed that rates will be charged foa the use and service of said system sufficient at all times to pay the cost of operation and maintenance oP said sys- tem, provide an adequate depreciation fund, and promptly pay the principal of and interest upon all bonds issued by said City which by their terms are payable solely from the revenues of said system, and to comply with all the covenants of and to maintain the several special account of the "Water Fund" of the City as such several spe- cial accounts were referred to, described and provided for by the provisions of the ordinance heretofore adopted and purauant to which this bond and the series of which it forms a part is issued. This bond is one of an authorized issue of �ight 1��,l�ion Dollars ($8,000,000), of the denomination of $5,000 each, numbered consecutively from 1 to 1600, inclusive, of like date and tenor ex- cept as to maturity and privilege of redemption. Of said bonds, bonds numbered 1061 to 1600, inclusive, in the a,ggregate a,mount of $2,700,000 and becoming due on and after September l, 1988, are re- deemable at the option of the City, prior to their maturity, at par and accrued interest to date of redemptlon, as a whole or in part, in the inverse order in which they are niunbered on September 1, 1987, or on any interest paymentt date thereafter. That is to say, bond numbered 1600 shall first be redeemed before �ond numbered 1599 is redeemed, and so on, continuing such priority of redemption as to all bonds so redeemable. Notice of the redemption of any or all of said bonds which by their terms shall have become sub�ect to redemption shall be given by the City to the holder thereof, if known, by regis- tered mail at least thirty (30) days prior to the date of redemption, or if the holder thereof be unknown, such notice shall be published at least once in a newspaper published and of general circulation in the City of Chica�o, Illinois, the date of the publication of such -8-