Authorize- Issuance of Revenue Bonds $11,960,000

Home Browse Search

, �� . , REGISTRAR'S CERTIFICATE OF AUTHENTICATION This bond is one of the bonds described in the within mentioned Ordinance. , Indiana By: as Registrar [Reverse of Bond] The City reserves the right pursuant to the terms and conditions of the Ordinance to authorize and issue additional bonds hereafterpayable out of the county economic development income tax revenues of the City,ranking on a parity herewith or junior hereto, for the purpose of financing additional costs of the economic development project for which the bonds were issued and future economic development projects and such other projects as may be permitted by law. So long as any bond is outstanding, Indiana Code 6-3.5-7-14 prohibits a county which has imposed the county economic development income tax from reducing the county economic development income tax rate imposed on the adjusted gross income of county taxpayers below that which is required to be maintained by law. The bonds of this issue, maturing on or after August 1, 2008, may be redeemed by the City, in whole or in part,on August 1,2007, or at any time thereafter,in order of maturity determined by the City, and by lot within any such maturity or maturities by the Registrar, at a redemption price expressed as a percentage of the principal amount of each Bond to be redeemed in accordance with the following schedule,plus accrued interest to the date of redemption: Redemption Period (Both Dates Inclusive) Redemption Price August 1, 2007, through and including July 31, 2008 102% August 1, 2008, through and including July 31, 2009 101% August 1, 2009, and thereafter prior to maturity 100% Official notice of any such redemption identifying the Bonds shall be sent by the Registrar by certified or registered mail to the Registered Owner of this bond at least thirty(30)days and not more than sixty(60)days prior to the scheduled redemption date,at the address shown on the registration books of the Registrar and Paying Agent, or at such other address as is furnished in writing to the Registrar and Paying Agent, unless such notice is waived by the Registered Owner;provided,however,that failure to give such notice by mailing, or any defect therein,with respect to any such bond will not affect the validity of any proceedings for redemption of any other such bonds. The place of redemption may be at the principal corporate office of the Paying Agent or as otherwise determined by the City. Interest on bonds so called for redemption shall cease to accrue on the redemption date fixed in such notice, so long as sufficient funds are available at the place of redemption to pay the redemption price on the redemption date or when presented for payment. The bonds so redeemed prior to maturity shall be surrendered for cancellation. -8-