The said bonds and stock are free and exempt from all taxation in the State of New York, except taxation for State purposes, pursuant to the provisions of section 169 of the Greater New York Charter, as amended.

The principal of and interest on said bonds and stock are pavable in gold coin of the United States of America, of the present standard of weight and fineness, pursuant to resolutions of the Commissioners of the Sinking Fund adopted June 9, 1898, and April 18, 19 4.