9678-06 Authorizing the Mayor and Controller to make Temporary loans Levied in 2005 Collectable in 2006

Home Browse Search

the Warrants and certification from the Purchaser that it is a "sophisticated investor". The entry by the City into the Warrant Purchase Agreement and the execution of the Warrant Purchase Agreement on behalf of the City by the City Controller, in accordance with the Ordinance, are hereby authorized, approved and ratified. Section V. The Warrants may be prepaid on any date prior to their maturity, in whole or in part, upon at least seven (7) days' written notice to the holder of the Warrant or Warrants to be prepaid, at a prepayment price equal to one hundred percent (100%) of the principal amount of the Warrants to be prepaid, plus accrued interest thereon to the date of prepayment, and without premium. Written notice of any prepayment shall include (i) the date of prepayment; (ii) the prepayment price; (iii) in the case of partial prepayment, the identification and the respective principal amounts of the Warrants to be prepaid; (iv) that on the date of prepayment, the prepayment price will become due and payable upon each such Warrant or portion thereof called for prepayment, and that interest thereon shall cease to accrue from and after said date; and (v) the place where such Warrants are to be surrendered for payment of the prepayment price, which place of payment shall be the place provided for the payment of the principal of the Warrants. Section VI. The Warrants issued hereunder with respect to the Funds shall be executed in the name of the City by the manual or facsimile signature of the Mayor of the City , countersigned by the manual or facsimile signature of the City Controller, and the corporate seal of the City affixed thereto, and attested by the manual or facsimile signature of the Clerk of the City (the "Clerk"), provided, however, that at least one such signature on the Warrants shall be manual. All Warrants shall be payable in lawful money of the United States of America at the office of the City Controller as Paying Agent. Section VII. The Warrants with respect to each Fund shall be issued in substantially the following form (all blanks, including the appropriate amounts, dates, and other information to be properly completed prior to the execution and delivery thereof): [Form of Warrant] UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH Due Date: December 29, 2006 $ CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN TAX ANTICIPATION TIME WARRANT ( FUND) FOR VALUE RECEIVED, on or before December 29, 2006, the City of South Bend, Indiana (the "City"), shall pay to the amount of $ (or so much thereof as may be advanced from time to time and be outstanding as evidenced by the records of the registered owner making payment for this Warrant, or its assigns) pursuant to a certain Warrant Purchase Agreement between the Bond Bank and the City, dated as of (the "Agreement"). BDDBOI 4397054v1 - 4 -