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Page 4 The Sewer Committee is hereby authorized to sell the bonds at public sale on auction bids in such manner and on such terms (including, without limitation, the right to convert the bonds to an issue bearing a lower rate or rates of interest) as the Sewer Committee shall deem to be in the best interests of the City and which shall not be inconsistent with applicable provisions of this Ordinance. Section 3. That the action of the Sewer Committee in accepting a bid for the bonds at the public sale thereof, in approving the designation of the pur- chaser of the Trustee and Paying Agent and in approving the details of the maturity schedule shall be submitted to the City Council for approval by Resolution. In this regard, the bonds shall be numbered consecutively beginning with number one (1) and shall be in such denominations as shall be requested by the purchaser and approved by the Sewer Committee. The Resolution of the City Council, re- ferred to above, shall set forth in detail a maturity schedule reflecting the years, bond numbers, yearly principal maturities, semiannual interest and total principal and interest requirements, and the Resolution shall specify the denominations of the bonds. Thereafter, 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 facsimile signature of the Mayor may be used upon compliance with the provisions of Act No. 69 of the Acts of Arkansas of 1959. Interest coupons attached to the bonds shall be executed by the facsimile signature of the Mayor. The Mayor's facsimile signature shall have the same force and effect as if he had personally signed the bonds and coupons. The bonds shall be executed by the manual signa- ture of the City Clerk. The principal of and interest on the bonds shall be payable solely out of the Sewer Revenue Bond Fund, as hereinafter set forth, and shall be a valid claim of the bondholders only against such fund and the revenues pledged to such fund, which revenues are hereby pledged and mortgaged for the equal and