9722-06 Authorizing the sale of an Aggregate Principal amount not to exceed $8,500,000

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Project, costs of issuance of the Bonds, and expenses related thereto. The Bonds shall be dated the date set forth in the Indenture, and shall be fully registered without coupons. The Bonds shall be payable in the medium and at the place or places, shall bear interest, shall have maturities not exceeding twenty-five (25) years from the date of issuance and shall have redemption terms as set forth in the Indenture approved by the Mayor (the "Executive") and the City Clerk (the "Cler1~'). The Bonds shall be executed on behalf of the City by, and bear the manual or facsimile signature of, the Executive and Clerk, and the seal of the City shall be thereunto affixed (or imprinted or engraved if in facsimile). The Bonds shall be in the form set forth in the final form of the Indenture. The City hereby elects to apply the provisions of Section 144(a)(4) of the Internal Revenue Code of 1986, as amended, to the Bonds, to increase the amount of qualified small issue bonds which it may issue for the Project from One Million Dollars ($1,000,000) to Ten Million Dollars ($10,000,000). SECTION 4. Limited Obli ag_tion. THE BONDS AND THE INTEREST THEREON DO NOT AND SHALL NEVER CONSTITUTE AN IlVDEBTEDNESS OF, OR A CHARGE AGAINST THE GENERAL CREDIT OR TAXING POWER OF, THE CITY, BUT ARE LIMITED OBLIGATIONS OF THE CITY PAYABLE SOLELY FROM REVENUES AND OTHER AMOUNTS DERIVED FROM THE LOAN AGREEMENT. SECTION 5. Approval of Financing~Documents. The Indenture, the Loan Agreement and the Bond Purchase Agreement are hereby approved in the forms submitted to this meeting, and a copy of each such document shall be kept on file by the Clerk. The Executive and the Clerk are hereby authorized and directed to execute and deliver such documents without further approval of the Council in substantially the forms herein approved with such additions, deletions and modifications thereto as may be approved under the Act, the execution thereof being conclusive evidence of such approval and of the approval of the Council; and the Clerk, or any authorized representative of the City, is hereby authorized and directed to affix the seal of the City to such documents and to attest the same. Two copies of the Indenture, the Loan Agreement and the Bond Purchase Agreement, hereby incorporated into this Ordinance, were duly filed in the Office of the Clerk and are available for public inspection in accordance with Section 36-1-5-4 of the Indiana Code. SECTION 6. Trustee. U.S. Bank National Association is hereby appointed as the initial Trustee under the Indenture. The Indenture may provide that the Trustee hereunder, or another corporate entity, shall act as the bond registrar and authenticating agent, and may provide for a co-trustee. SECTION 7. Delivery of Bonds. After execution on behalf of the Executive and the Clerk, the Bonds shall be delivered to the Trustee, which is hereby authorized and requested to authenticate and deliver the Bonds to or upon the order of the Underwriter, or to any depository, in accordance with and upon compliance with the provisions of the Indenture. The Council hereby authorizes the sale of the Bonds pursuant to the Bond Purchase Agreement. 3