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4. Said bonds shall be prepared under the direction of the Village Clerk and shall be executed on behalf of the Village by the signature of the Mayor and countersigned by the Village Clerk, and sealed with the corporate seal of the Vil- lage, and the interest coupons and legal opinion certificate shall be executed and authenticated by the printed, engraved or lithographed facsimile signatures of the Mayor and Clerk. When said bonds have been so executed and authenticated, they shall be delivered by the Treasurer to the purchaser thereof upon payment of the purchase price in accordance with the contract of sale heretofore made and executed, and said purchaser shall not be obliged to see to the application of the purchase price. The proceeds of the bonds, including the accrued interest and premium, if any, shall be deposited in the Series 2 Temporary Improvement Bond Fund of the Vil- lage and used to pay the principal and interest coming due on August 1, 1961, on the $1,000,000 Temporary Improvement Bonds, Series 2 of the Village dated August 1, 1965. 5. The Village has duly levied special assessments for the payment of the cost of all improvements financed from the proceeds of the Temporary Improvement Bonds, Series 2, which special assessments are payable in annual installments on the tax rolls of the years 1967 through 1985, collectible in the respective ensuing years, with interest at the rate of 5% per annum on the balance thereof from time to time unpaid. It is estimated that the aggregate principal amount of said special assessments not heretofore paid or prepaid is $445,000 . In the event that any of said special assessments shall at any time be held invalid with respect to an;\{ lot or parcel of land, due to any error, defect or irregularity in any action or proceedings taken by the Council, or by any officer or employee of the Village, in the making of the assessments or in the performance of any condition precedent thereto, the Village covenants and agrees that it will do all such further acts and take all such further proceedings as shall be required by law to make such assess- ments a valid and binding lien upon said property. Said improvements having been completed, all collections thereof in the improvement funds for the respective im- provements have been transferred into the Series 2 Temporary Improvement Bond Fund. The Treasurer is directed to apply the amount of $ll6,000 now in said fund to the payment of interest and principal due on said Temporary Improvement Bonds, Series 2 on August 1, 1967, and to transfer any remaining balance in said temporary fund to the General Improvement Bond Sinking Fund. All additional collections of said spe- cial assessments are likewise appropriated to the General Improvement Bond Sinking Fund and shall be credited to said fund as received. 6. The full faith and credit of the Village is irrevocably pledged for the prompt and full payment of the principal of and interest on the bonds to be issued hereunder, and these bonds shall be payable from the General Improvement Bond Sinking Fund in accordance with the provisions contained in said resolution dated July 1, 1963. For the purpose of providing, with the estimated collections of said special assessments and of taxes and special assessments and other funds heretofore appropriated to the General Improvement Bond Sinking Fund, annual sums for said fund not less than 5% in excess of the amounts required to pay principal and interest payments on the bonds of this Series 3 end bonds now PSUTable from that fund, an ad valorem tax is hereby levied upon all of the taxable property within the corporate limits of the Village, to be spread upon the tax rolls of each of the years 1967 to 1984, inclusive, in the following respective amounts: -9-