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03 Page 2 and supplies from the Cog3any, anci if the Company constructs additions.,betterments and_`rnprovements to the '°V aterworks System after the tate o= the-Acrreement a.n'd before the date of: 4zelivery of the bonds. Certain other adjustments are Provided for in saidJ:°'i�re_emen-L wi th regd regard, to accrue(,' utility revenue, meter de)osits, property tai,:es ana other matters relating and inc-idental to the Purchase j%greement) ; an.? �' i that certain extensions, ,..� it has been eet�rFninPu -� betterments and improvements to the System should be constructed; ant: 'NHE,'R PS the Citty ca�oes not have the necessary funds to acquire the System and to construct the neede6. extensions, betterments and improvements thereto, but the Company has agreed to accept as full anti complete payment for the 7aterwor."s System $635:0000 in ')riricipal amount of Batesville Waterworks Revenue Bonds, and has agreed to purchase at par $100,000 of Batesville Waterworks -,Revenue Bonds, the ;-)rocea s of which will be usccd to construct the needed extensions, betterments and i.Il6orovements; and 7�T{�'Z^S the boncs are to near interest at the rate of 4.356/0 per annum, and pursuant to the rZ,,,,,hL cr?nted In L -he :� �reement, the Com-Oany has elected to convert the ponds to an issue of $733,000 of 3 1/410, 3 1/2%, 3 3/4`10, 410 ancu 4.20"o oon6s, and the City Cot:nc_i_l has examines said convers-ion ana has found the same to be within the terms of the '11greement so that the City wif ll receive no less and pay no more than it would receive and pay if the bonds were noL converted;