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ATTEST: CLERK OF THE COUNCIL OF THE CITY OF CHARLOTTESVILLE TREASURER OF THE CITY OF CHARLOTTESVILLE (3) THAT THE SAID BONDS SHALL BE SIGNED BY THE MAYOR AND THE TREASURER OF SAID CITY, ATTESTED BY THE CLERK OF THE COUNCIL, AND SHALL HAVE THE SAID CORPORATE SEAL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA AFFIXED THERETO AND THE COUPONS SHALL BE AUTHENTICATED BY THE LITHOGRAPHED FACSIMILE OF THE SIGNATURE OF THE CITY TREASURER WHICH IS HEREBY DECLARED TO BE IN ALL RESPECTS THE EQUIVALENT TO THE MANUAL SIGNING THEREOF BY SAID TREASURER. (4) THAT THE FINANCE COMMITTEE OF THE CITY BE AND IT IS HEREBY AUTHORIZED TO PREPARE SAID BONDS AND TO PRINT THE APPROVING OPINION OF MESSRS. WOOD, KING, DAWSON & LOGAN, ATTORNEYS AND COUNSELLORS AT LAW, NEW YORK, N. Y., ON THE BACKS OF SAID BONDS AND DISPOSE OF THE ISSUE AS A WHOLE OR IN INSTALLMENTS, AT PAR OR MORE, ANY SALE TO BE RATIFIED AND APPROVED BY THE COUNCIL. (5) THAT THE PROCEEDS OF THIS ENTIRE ISSUE OF SAID BONDS SHALL BE USED EXCLUSIVELY FOR THE CONSTRUCTION OF A SEWERAGE DISPOSAL PLANT WITH APPURTENANCES ON MOORE'S CREEK NEAR THE RIVANNA RIVER IN ALBEMARLE COUNTY, VIRGINIA, A SHORT DISTANCE FROM THE CITY LIMITS OF CHARLOTTESVILLE AND THE INSTALLATION OF ADDITIONAL COLLECTING SEWERAGE LINES FOR THE CITY OF CHARLOTTESVILLE AND THE ENTIRE PROCEEDS OF THE SALE OF SAID BONDS SHALL BE PLACED TO THE CREDIT OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, WHO SHALL DISBURSE THE SAME UPON PROPER WARRANTS FOR THE PURPOSES AFORESAID. (6) THAT WHILE THE SAID BONDS, OR ANY OF THEM, SHALL REMAIN OUTSTANDING OR UNPAID, THERE SHALL BE LEVIED AND COLLECTED FROM THE USERS OF THE CITY'S SEWERS A SEWER RATE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST AS THE SAME BECOMES DUE AND PAYABLE AND THAT SAID BONDS WILL BE ISSUED PURSUANT TO THE PROVISIONS OF SECTION 127 (B) OF THE CONSTITUTION OF VIRGINIA AND WILL NOT BE INCLUDED WITHIN THE OTHERWISE AUTHORIZED INDEBTEDNESS OF THE CITY OF CHARLOTTESVILLE, PROVIDED, HOWEVER, THAT FROM AND AFTER A PERIOD NOT EXCEEDING FIVE (5) YEARS FROM MARCH 18, 1958, WHENEVER AND FOR SO LONG AS SUCH UNDERTAKING FAILS TO PRODUCE SUFFICIENT REVENUE TO PAY FOR COST OF OPERATION AND ADMINISTRATION (INCLUDING INTEREST ON BONDS ISSUED THEREFOR, AND THE COST OF INSURANCE AGAINST LOSS BY INJURY TO PERSONS OR PROPERTY, AND AN ANNUAL AMOUNT TO BE COVERED INTO A SINKING FUND SUFFICIENT TO PAY, AT OR BEFORE MATURITY, ALL OF THE BONDS ISSUED ON ACCOUNT OF SUCH UNDERTAKING, ALL SUCH BONDS OUTSTANDING SHALL BE INCLUDED IN DETERMINING THE LIMITATION OF THE POWER OF THE CITY OF CHARLOTTESVILLE TO INCUR INDEBTEDNESS. THE FULL FAITH AND CREDIT OF THE CITY SHALL BE PLEDGED TO SECURE THE PAYMENT OF THE PRINCIPAL AND INTEREST ON SAID BONDS AND AN AD VALOREM TAX SHALL BE LEVIED ON ALL THE TAXABLE PROPERTY OF SAID CITY WITHOUT LIMITATION OF RATE OR AMOUNT, FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF, IN THE EVENT THE REVENUE FROM SUCH UNDERTAKING IS INSUFFICIENT THEREFOR. (7) THIS ORDINANCE SHALL TAKE EFFECT IMMEDIATELY. ADOPTED BY THE COUNCIL FEBRUARY 1, 1960 AYES: MR. COLEMAN, MR. DAVIS, MR. MICHIE, MR. SCRIBNER AND MR. WEINBERG. NOES: NONE. PRESIDENT CLERK