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VVW en and )COVid1I7g for 1; a5t Llntil ''QVC nLiCS are dvall_il_;le f( -C the prl?iClnal Of ana 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 (the "Indenture"), dated as of December 1, 1968, 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 for the provisions, among others, with respect to the issuance of additional series of bonds up to the total authorized principal amount of the bonds , 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 Constitu- tion 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 Janu- ary 21, 1960, as amended ("Act No. 9"), and pursuant to Ordinance No. _ of the City passed and approved on the day of 19 , which ordinance authorizes 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 of lands, buildings, improvements, machinery, equipment and facilities for an industrial plant, has been leased to Westport Casuals, Inc. , an Arkansas corporation ("Westport"), for rentals sufficient to provide for the payment pf the principal of and interest on the bonds as the same become due. Payment of the rentals and performance of all other covenants and obligations of the Lessee (Westport") has been unconditionally guaranteed by Stern-Slegman-Prins Company, a Missouri corporation, by an instrument designated "Stern Guaranty Agreement". The Project will be utilized by Westport for the conduct of its business including, without limitation, the manufacturing of such products as Westport shall elect to manufacture. Provision 1has been made for the lease rentals to be paid directly to the Trustee and deposited in a special account of the City