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upr000091 125

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upr000091-125
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    6. The contract between the Railroad Company and John Nuveen k Go. L would further provide that any water revenue bonds so to be sold to John Nuveen & Co. by the Railroad Company would, at the time of delivery to John Nuveen & Co. at a bank of their designation in the City of Chicago, be accompanied by the unqualified ap­proving legal opinion in customary market form of nationally recognized bond attorneys to be selected by John Nuveen Sc Co. The Railroad Company would agree that It would cause to be de­livered to such bond attorneys certified copies of all resolu­tions, proceedings and other documents relating to the author­ization and issuance of such water revenue bonds, including the usual delivery papers in customary form, in order that such bond attorneys could render their opinion as aforesaid, The fees of such bond attorneys would be paid by John Nuveen & Co. 7* T he initial contract would also contain a provision to the ef­fect that the Railroad Company recognizes that John Nuveen & Co. in the performance of such contract will be required to lay out substantial sums of money for engineering, accounting and legal services, and that reimbursement for such liabilities for such purposes and any compensation for time and effort of John Nuveen & Co. in the performance of such contract will necessarily be de­rived from and limited to profits received by John Nuveen & Co. in the sale of the water r venue bonds; and that as a conse­quence thereof, such initial contract would necessarily contain a provision that if, for any reason, the Railroad Company should sell sueh water system for cash Instead of in exchange for water revenue bonds as above set forth, or if the Railroad Company should sell such water system to a purchaser Igfl 11| I . . j: || g|§ ; g ' Jj $g otIh eIrI than the Wa- | ter District or the City, then, and in that event, the Railroad|||| S 8 -4-