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to the Loan Agreement to pay the costs of refinancing the Project and possibly pay some portion <br />of the costs of issuing the Bonds, which Bonds will be payable as to principal and interest <br />solely from the payments made by the Company pursuant to the Loan and Financing <br />Agreement and as otherwise provided for in the above-described Financing Documents. <br />Section 4. The Mayor and the Clerk are authorized and directed to sell such <br />Bonds upon the terms and conditions described in the Trust Indenture and the Bonds. The Bonds <br />shall be issued as fully registered Bonds, without coupons, in the denominations set forth in the <br />Trust Indenture, numbered consecutively as set forth in the Trust Indenture, and shall be payable <br />and mature as provided in the Trust Indenture. The Bonds shall bear interest at a rate not to <br />exceed nine percent (9.0%) per annum from the date of their closing through April 7, 2007 and at <br />a rate to be determined as set forth in the Trust Indenture during any extension period. The <br />Bonds shall be subject to mandatory and optional redemption or tender as provided in the Trust <br />Indenture and the Bonds. <br />Section 5. The Mayor and Clerk are authorized and directed to execute those <br />Financing Documents approved herein which require the signature of the Mayor and Clerk and <br />any other document which may be necessary or desirable to consummate the transaction <br />including, without limitation, a new regulatory agreement or an amendment to the existing <br />regulatory agreement relating to continued compliance by the owner of the Project with respect <br />to Federal tax rules governing the Project, and their execution is hereby confirmed on behalf of <br />the Issuer. The signatures of the Mayor and the Clerk on the Bonds may be facsimile <br />signatures. The Clerk and the Controller are authorized to arrange for the delivery of such <br />Bonds to the purchaser, payment for which will be made in the manner set forth in the <br />Financing Documents. The Mayor and the Clerk may, by their execution of the Financing <br />Documents requiring their signatures and/or imprinting of their facsimile signatures thereon, <br />approve changes therein and also in those Financing Documents which do not require the <br />signature of the Mayor and/or the Clerk without further approval of this Common Council or <br />the Commission if such changes do not affect terms set forth in Indiana Code 36-7-12-27(a)(1) <br />through (a)(10). In case any officer whose signature or a facsimile thereof shall appear on the <br />Bonds shall cease to be such officer before the issuance or delivery of the Bonds, such signature <br />or facsimile thereof shall nevertheless be valid and sufficient for all purposes, the same as if he <br />had remained in office until after that time. <br />Section 6. The Bonds shall not constitute a debt or pledge of the faith and credit <br />of the City, the State of Indiana (the "State") or any political subdivision thereof, and the holders, <br />or owners thereof shall have no right to have taxes levied by the City, the State or of any political <br />subdivision, for the payment of the principal thereof or interest thereon. Moneys raised by <br />taxation shall not be obligated or pledged for the payment of principal of or interest on the <br />Bonds, and the Bonds shall be payable solely from the revenues and security interests pledged <br />for their payment as authorized by the Trust Indenture. <br />Section 7. The provisions of this Ordinance and the Financing Documents <br />shall constitute a contract binding between the Issuer and the holder or holders of the Bonds and <br />after the issuance of said Bonds, this special ordinance shall not be repealed or amended in any <br />-3- <br />SBIMANI 174829v6 <br />