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VILLAGE O1F.WILMETTE ORDIXANCE NO. 1712 AN ORDINANCE authorizlng and :providIng for: the Issue oe, 8600,,000 Water Revenue Bonds of the Village ef Wiimette, Cook Cuuty, Illinois, under th pro- visio ; of an Act entitled *'Au ect autlhorizig anyi city, vil- lage, or Incorporated town hav-_ ing a. population of less than 500,000 te buIld or purchase' a waterworks or water supply sys- tem either 'withiu or without the corporate limite thereof,' or mi- p.rove ;and exteud:a.,waterwoôrks systeni or water suppiy fer public and domestic*use sud te provide for the coat thereot byi thé issue et revenue bonds pay- able solely fromn the revenues derived from the operatien there- of,1" -app roved .April 22, 18»99, as amended,. for the purpese of detraylng, the cost 'of improving the preseut waterworks systeni ef said Village by building a watér supily/ systel1; ,reeMbfmh Ing al ot the detaila of snid bonds sud providiug for the col- lection, segregatiou sud disposi- tion of the revenues ef the waterworks system ofe said Vil- lage for the purliose of paying the cost of operation sud main- tenance thereof, providing an adequate depreciation, fuasd therefor snd paying the prin- cipal sud lnterest of nàid.water revenue bouda. .oe $5,000on January 1 of e9eh o iYears 1935 te 1937, Inclusive; y =0ô n January 1 of each o 0eAra138 to 1940, Inclusive; $7.0ô0 on Januaryr 1 ef each 0 yéars 1941 and 1942;- .$8,000 ou January 91- of each'o yetrs 1943 and 1944; $9,000 on January 1.of each 0 years 1945 to 1947, inclusive; $10,000 on Januaryr 1, 1948; $11,000. on, Janua'ry 1 of each o years 1949 'and 1950; $12,000 on January 1- of each o years 1951 aud 1952; 813,000 on January 1, 1953;. $14:000 on January 1. 1954; $15,000 on January 1 of each o yearé 1955 and1 1956; $16,000 on January 1.,1957; 8$17,000 on January 1, 1958; 818,000.on Jauuary 1, 1959; $19,000 on January 1, 1960; 820,000oun January 1, 1961;- $21,000 ou January, 1962; $22;000 ou -Jafluary '1'1963, $23,000 on Jauuary 1, 1964; 426,000 on January 1, 1965; 826,000 on .Tsnuary 1, 1966; $28,000 on January 1, 1967, 2900on January 1, 1968; $31,000 on Jauuary 1, 1969; $32,000 on Janua.ry 1, 1970 ; $34,000 on January 1, 1971; and 836,000 on January 1, 1972. Section 5. Both principal and lut of said water revenue bonds sha payable ln lawful money of the 'U States of Aînerica pt the office oi Village Treasurer. lu the.VillaeA of of tht Le cozt o mprovig and extendlng its presentlyowned municipal waterworks ýe system by the building of a water sup- ply system. and. this boed doos flot con- Le stitute au lndebtedness- of said Village ' withiu any constitutionil or statutory Le limitation. Under nid Act aud the. ordin ance ýe adopted pursuant. thereto,-suflcient revenues from the operaition of the municipal waterworks systeni shall be e deposited lu a separate fund.deslgnated as the 'Water Fnd" of aaid Village te which ahall be used onily lu paying the cost of operation, sud maintenance of. such Bysteni, providing an adequate de- preciation fund aud paylng the prin- e "cipal ,0f «and. interest ,ou the, bonds, of such Village that are issued umider au- thority of said Act: sud are payable by their ternis only from, the revenue of such waterworlcs systeni. It ls hereby certlfied and recited that. all acta, conditions sud things required to be doue precedeut te sud In the la- suance. of thia bond, have :been doue sud have happened sud have been per- formed ln regular and due ternin of law aud that provisiou bas been made, for depositing lu said water fuud sufficient revenues received from the operation of sala 'watérworloe systém to be ap- plied lu the mianner as hereiuabo've set *forth, This bond niay be registered as te ýt principal'ouly in the usme of the holder e ou the books et said Village ln the-of- d fiee of the Village Treasurer, such e régistration to be evidenced by nota- -tion hereon by the Village Treasurer, " after which uo transter shall be valid " tinless made oun sid booksansd simlar- -ly noted hereon, but It may, be dis- Scharged from such registration by beIug *transferred te bearer, after whicli it shall e b. trausferable by delivery, but lt may ËI be agalu registered as betore. The e, registration of thia bond shall not re-, 8strict the negotiablty of the coupons vu.Pss Zt la hereby determined that the. anieunts to be set aside lun sid water fund to be used for the pu'I'pose of pa.y- irng principal a.nd lutereat of water revenue bonds issued under the pro- visions of thua ordînance shah b. au follows: PRINCIPAL TEAR AND INTEREST 1933 130,000 1934 135,000 1935 $34:,7660 1936 $349500 1937 836P260 1M38t34,950 1939 8$34,65Ù 1940 $35,350 1941 $361000 1942 $3&,650 1943 835,250 1944 3,5 1945 135,400 194 3SS erý- ,l - ;I, Village oft Wifuiette le Inadéquate te the revenues deriveil trom the water- meet the present aud future needa et wor'ks syitem et pald Village and such sald Village witheut additional expense bonda shall net ln anyr event coustitute -in cost of water sud improvements for an indebtednesa et the Village of WIl- proper cenuectien with the waterworks mette' withln the meaning of any cou- system of the City of E-vanston; sud. stitutlonal or statutory limitation. WHEREAS, It is deemed more ecouni- Any of'saaid bonds may be reglstered leal, advisable and for the best lu- as te principal at any tinie prior to teresta et thé Village ot Wilmette, Cook maturity Iu the name of the holder on Couuty, Illinois, lu order to procuré an the books et sald Village lu the office adequate water supply 'foir public and of the Village Treasurer, Such registrâ- domestie use to improve sud extend 'its tien te be noted ou the reverse aide ef Present waterwerks systeni by the build- the bonds by the 'Village~ Treasurer, sud Inn. oif a ..,&ter snulv svatm ~Inelinoethereafter the principal of such: regis- nereto am U ça a,LLte5Iedoy tue Vil- lage Clerk sud the coupons. hereto at- tached te be sigued by the facsimîle signatures of sald President sud' salà Village Clerk, whlch officiais by, the executien of this bond, do adopt as and for their owu np roper signature6s their respective facelmile signatures5f appear- lng on said coupons sud this bond'- te be dated:.the firet daiy ef Jauuary, 1932. Attest: Presldeut Village Cierk. (Forni of Coupon) cept that when. the flrst day of an>' meuth shall b. Sundayý or a legal holi- day, thon aueh distribution shall b. made ou thse fext succeeding secular day. Said water fuud as herelnabove provid for shall b. uaed eolely and. ouly, sund la hereby pledged. for the purpose eto paying the principal and interest of the bonds herein authorlzed te be lssued, te psyý the cost of' opera- Sio.; ma intnnce.* anA .nw * 'an Secton 3 Tha tepay the ceat of ifrmcipai ef- sud auch water' supplyr syatem It wili re- are hereby masde quire the issuaLnce of Six Itudred 0fthe Village '1' Thouaand Dollars <8600,000) water revre- et Wilîoette, 11111 nue bonds beariug luterent at the; rate, This bond ls st 1upon this bnda .ipng pthe thWr rable at the oflice of egash year. 1 ýrer lu the Village I hver'of an>' Iprovielô,ns of t] able sely r om revenues t rom .e operatien et Ïd -Section-il-l The ýVillige of Wiluiette er hereby covenants .sud ag'rees wlth the e- holder or holders -ot the bonds hierein iepreposed te be*lsàsued-or su>' of them- nt le (Cçntiuued on Page 52)