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-3 - in the denomination of $5,000 each, and shall be numbered consecutively from 1 to 113, inclusive. Principal and interest are payable at the principal office of The Farmers and Merchants Bank, Stuttgart, Arkansas, the Trustee and Paying Agent. Payment of interest when registered as to interest may be by check or draft mailed to the registered owner at the address shown on the regis- tration book of the City maintained by the Trustee. The Bonds shall be subject to redemption prior to maturity as hereinafter set forth. Section 5. The Bonds shall be executed on behalf of the City by the Mayor and City Clerk and shall have impressed thereon the seal of the City. The Bonds and interest coupons attached thereto may be executed by the facsimile signature of the Mayor, which facsimile signature shall have the same force and effect as if personally signed by him. The Bonds must be executed by the manual signature of the City Clerk. The Bonds, together with interest thereon, shall be payable solely out of the "Sanitation Facilities Bond Fund" and the proceeds of refunding bonds to be issued, as hereinafter set forth, and shall be a valid claim of the holders thereof only against the Bond Fund and the revenues pledged to the Bond Fund, and the proceeds of the refunding bonds, which revenues and proceeds are hereby pledged and mortgaged for the equal and ratable payment of the Bonds, as set forth in detail in this Ordinance, and shall be used for no other purpose than to pay the interest on the Bonds and the Trustee's and Paying Agent's fees, except as hereinafter specifically provided. System revenues are not pledged to payment of the principal of the Bonds, but the City hereby covenants that it will on or prior to the maturity of these Bonds, take the necessary steps to sell and issue refunding bonds, in sufficient principal amount to pay the principal of these Bonds, either at or before maturity, and will apply a sufficient amount of the proceeds of such refunding bonds to this purpose.