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�irr rr�° The bonds are issued under and are equally and ratably secured and entitled to the protection given by a Trust Indenture dated as of April 1, 1975 , as supple- mented by a First Supplemental Trust Indenture dated as of April 1 , 1975 (the 'Indenture") duly executed and delivered by the City to the Trustee, which Indenture is recorded in the office of the Circuit Clerk and Ex Officio Recorder of Independence County, Arkansas, and reference is hereby made to the Indenture and all indentures supplemental thereto for the provisions, among others, with respect to the nature and extent of the security, the rights, duties and obligations of the City, the Trustee and the holders and registered owners of the bonds, and the terms upon which the bonds are issued and secured. The bonds are being issued for the purpose of financing a Project, consisting of machinery, equipment and facilities described in the Indenture, situated in and in connection with an Industrial Plant and paying expenses of authorizing and issuing the bonds. The bonds are issued pursuant to and in full compliance with the Constitution and laws of the State of Arkansas, particularly Act No. 9 of the First Extraordinary Session of the Sixty -Second General Assembly of the State of Arkansas, approved January 21, 1960, as amended ("Act No. 9"), and pursuant to ordinances of the City duly adopted and approved, which ordinances authorize the execution and delivery of the Indenture. The bonds are not general obligations of the City, but are special obligations payable solely from purchase payments and revenues derived from the Project. A Sale Agreement has been executed between the City and The General Tire & Rubber Company, an Ohio corporation ("General Tire"), which provides for purchase payments sufficient to pay the principal of and interest on the bonds as the same become due. Provision ha s been made in the Sale Agreement for the purchase payments to be paid directly to the Trustee and deposited in a special account of the City designated "Batesville, Arkansas Industrial Develop- ment Revenue Bond Fund - General Tire Project." Project revenues (including purchase payments under the Sale Agreement) have been duly pledged by the