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M 0 "fin• �+✓' of Five Hundred Thousand Dollars ($500, 000) of which $375, 000 in principal amount, designated Series A, have been heretofore issued, and with the bonds of the total authorized issue, regardless of series, ranking on a parity of security and herein referred to as the "bonds". The bonds are being issued for the purpose of financing Project costs, paying necessary expenses of issuing the bonds and providing for interest until revenues are available for the principal of and interest on the bonds. The bonds are all issued under and are all equally and ratably secured and entitled to the protection given by a Trust Indenture dated December 1, 1968, as amended and supplemented (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 to all Indentures supplemental thereto (including a Second Supplemental Trust Indenture dated February 1, 1971 setting forth the details of, and certain other matters necessary by virtue of the issuance of, the Series B Bonds, duly executed, delivered and recorded) 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 issued pursuant to and in full compliance with the Con - stitution 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 Arkansan, approved January 21, 1960, as amended ("Act No. 9") and pursuant to Ordinance No. 764 of the City passed and approved on the 26th day of November, 1968, as amended and supplemented by Ordinance No. 772 of the City passed and approved on the 10th day of June, 1969 and Ordinance No. of the City passed and approved on the /3 ` day of SA d, , 1971, 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 lease rentals and revenues derived from the Project. The Project, consisting