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`rrr NOW Page 8 to make adequate provision for the depreciation of the Water System And to provide for the payment of the reasonable and proper expenses of operation and maintenance of the Water System. The bonds do not constitute an indebtedness of the City within any constitutional or statutory limitation. They are not general obligations of the City, but are special obligations payable solely from revenues derived from the operation of the Water System, as set forth above, a fixed amount of which has been duly set aside and pledged as a special fund for that purpose and identified as the "Second Lien Revenue Bond Fund" established by the authorizing Ordinance. There is a statutory mortgage lien upon the Water System, which shall exist in favor of the holders of the October 1, 1961, bonds and of the holders of the bonds of this issue, and each of them, and in favor of the holders of the coupons attached to the bonds, and the Water System shall remain subject to such statutory mortgage lien.until payment in full of the interest on and principal of the bonds of both issues; provided, however, that such statutory mortgage lien shall be interpreted according to the decision of the Supreme Court of the State of Arkansas in City of Harrison v. Braswell, 209 Ark. 1094. The statutory mortgage lien of the bonds of this issue shall be subject to the statutory mortgage lien in favor of the October 1, 1961, issue. This bond is expressly made negotiable under the laws of the State of Arkansas and is issued with the intent that the laws of the State of Arkansas shall govern the construction thereof. The bonds of this issue shall be callable for payment prior to maturity, in whole or in part, in inverse numerical order,