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• SERIES 1991 B BONDS
<br /> DATE PRINCIPAL INTEREST TOTAL
<br /> 8/ 1/92 39, 596. 67 39 , 596 . 67
<br /> 2/ 1/93 135, 000. 00 29, 697. 50 164 , 697 . 50
<br /> 8/ 1/93 26, 457 . 50 26, 457 . 50
<br /> 2/ 1/94 145, 000. 00 26, 457. 50 171, 457 . 50
<br /> 8/ 1/94 22 , 832 . 50 22 , 832 . 50
<br /> 2/ 1/95 150, 000. 00 22 ,832 . 50 172 , 832 . 50
<br /> 8/ 1/95 18 , 970. 00 18 , 970. 00
<br /> 2/ 1/96 160, 000. 00 18, 970. 00 178, 970 . 00
<br /> 8/ 1/96 14, 770. 00 14 , 770. 00
<br /> 2/ 1/97 170, 000. 00 14 , 770. 00 184 , 770. 00
<br /> 8/ 1/97 10, 180. 00 10, 180. 00
<br /> 2/ 1/98 175, 000. 00 10, 180. 00 185, 180. 00
<br /> 8/ 1/98 5, 367 . 50 51367. 50
<br /> 2/ 1/99 190, 000. 00 5, 367 . 50 195, 367 . 50
<br /> The Series 1991 Bonds shall be registered as to principal
<br /> and interest. Principal is payable at the principal office of
<br /> First National Bank of Lawrence County, , (the "Trustee"
<br /> and "Paying Agent") in the City of Walnut Ridge, Arkansas. Payment
<br /> of interest shall be by check or draft mailed to the registered
<br /> owner at the address shown on the registration book of the City
<br /> • maintained by the Trustee. Bonds issued prior to the first
<br /> interest payment date shall bear interest from December 1, 1991.
<br /> The interest commencement date for Series 1991 Bonds issued
<br /> thereafter shall be the last interest payment date on which
<br /> interest has been paid. The Series 1991 Bonds shall be subject to
<br /> redemption prior to maturity as hereinafter set forth.
<br /> Section 5. The Series 1991 Bonds shall be executed on
<br /> behalf of the City by the Mayor and City Clerk and shall have
<br /> impressed thereon the seal of the City. The Series 1991 Bonds may
<br /> be signed by the facsimile signature of the Mayor and the facsimile
<br /> signature of the City Clerk. The Series 1991 are secured on a
<br /> parity of lien, pledge and security with Additional Bonds, issued
<br /> under this Ordinance, and the term "Bonds" refers to and includes
<br /> the Series 1991 Bonds and any Additional Bonds outstanding
<br /> hereunder. The Bonds, together with interest thereon, shall be
<br /> payable solely out of the Water and Sewer Revenue Bond Fund,
<br /> hereafter described, and shall be a valid claim of the holders
<br /> thereof only against such fund and the amount of revenues pledged
<br /> thereto or deposited therein, which revenues are hereby pledged and
<br /> mortgaged for the equal and ratable payment of the Bonds and shall
<br /> be used for no other purpose than to pay the principal, premium, if
<br /> any, interest and Trustee's and Paying Agent's fees on and in
<br /> connection with the Bonds. The Bonds shall not constitute an
<br /> indebtedness of the City within any constitutional or statutory
<br /> limitation.
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