10052-10 Sewage Works Revenue Bonds

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also be authenticated by the manual signature of the Registrar (as defined below). Subject to the provisions of this Ordinance regarding the registration of the 2010 Bonds, the 2010 Bonds shall be fully negotiable instruments under the laws of the State of Indiana (the "State"). Any other provisions of this Ordinance to the contrary notwithstanding, the 2010 Bonds shall be issued on a parity with the outstanding Prior Bonds, and none of the provisions of this Ordinance shall be construed to affect the rights of the holders of the outstanding Prior Bonds. The Board shall instruct the Financial Advisor to perform any and all computations necessary to confirm the preliminary evidence and findings demonstrating compliance with the conditions set forth in the Prior Ordinances for issuance of additional revenue bonds on parity with the outstanding Prior Bonds. The City shall not issue the 2010 Bonds without first receiving a certificate from the Financial Advisor in form and substance satisfactory to the Controller regarding compliance with certain conditions set forth in the Prior Ordinances for the issuance of additional revenue bonds on parity with the outstanding Prior Bonds. The 2010 Bonds shall be on a parity with the Prior Bonds, and shall be sold at a price not less than 99% of the par value thereof, shall be issued in fully registered form in denominations of Five Thousand Dollars ($5,000) or any integral multiple thereof, shall be numbered consecutively from R-1 up, shall be originally dated as of the first day of the month in which the 2010 Bonds are sold or as otherwise determined by the Controller, and shall bear interest at a rate or rates not exceeding eight percent (8.0 %) per annum (the exact rate or rates to be determined pursuant to Section 8 hereof) payable on the first (1st) day of June and December in each year, following the original date of the 2010 Bonds as determined by the Controller, with the advice of the Financial Advisor and as set forth in the notice of intent to sell bonds or notice of bond sale as set forth in Section 8 herein. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. The 2010 Bonds shall mature annually on December 1 as finally determined by the Mayor and the Controller with the advice of the Financial Advisor and as set forth in the notice of intent to sell referred to herein and as evidenced by delivery of the executed initial issue of the 2010 Bonds to the Registrar for authentication; provided that the original aggregate principal amount does not exceed the amount authorized above, and that the final maturity shall. be no later than December 1, 2030. All payments of interest on the 2010 Bonds shall be paid by check or draft mailed one business day prior to the interest payment date to the registered owners thereof as of the fifteenth (15th) day of the month preceding the interest payment date at the addresses as they appear on the registration books kept by the Registrar (the "Registration Record") or at such other address as is provided to the Paying Agent (as defined below) in writing by such registered owner. All principal payments and premium, if any, on the 2010 Bonds shall be made upon surrender thereof at the principal corporate trust office of the Paying Agent in any coin or currency of the United States of America which on the date of such payment shall be legal tender for the payment of public and private debts. Interest on 2010 Bonds shall be payable from the interest payment date to which interest has been paid next preceding the authentication date thereof unless such 2010 Bonds are authenticated after the fifteenth (15th) day of the month preceding an interest payment date and on or before such interest payment date in which case they shall bear interest from such interest payment date, or unless authenticated on or before the fifteenth (15th) day of the month -4-