9523-04 Authorizing the Acquistion, COnstuction and, Installation of Certain Additions

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Bonds, the 2004 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 2004 Bonds shall be issued on a parity with the outstanding Prior Bonds, and none of the provisions of this Ordinance shall be construed to effect the rights of the holders of the outstanding Prior Bonds. The Controller is authorized to employ the firm of Crowe Chizek and Company LLC ("Crowe Chizek"), to perform any and all computations necessary to confirm the preliminary evidence and findings demonstrating compliance with the conditions set forth in the Prior Bond Ordinances for issuance of additional revenue bonds on parity with the outstanding Prior Bonds. The City shall not issue the 2004 Bonds without first receiving a certificate from Crowe Chizek in form and substance satisfactory to the Controller and to the effect that the City and the sewage works are in complete compliance with the conditions set forth in the Prior Bond Ordinances for the issuance of additional revenue bonds on parity with the outstanding Prior Bonds. The 2004 Bonds shall be on a parity with the Prior Bonds, and shall be sold at a price not less than 99°Io of the par value thereof (exclusive of original issue discount), 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 2004 Bonds are sold or as otherwise determined by the Controller, and shall bear interest at a rate or rates not exceeding six and one-half percent (6.5 °Io) per annum (the exact rate or rates to be determined pursuant to Section 7 hereof) payable on the first (1st) day of June and December in each year, beginning on December 1, 2004. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. The 2004 Bonds shall mature serially on December 1 as finally determined by the Mayor and the Controller with the advice of Crowe Chizek as evidenced by delivery of the executed initial issue of the 2004 Bonds to the Registrar for authentication; provided that the original aggregate principal amount does not exceed the amount authorized above, that the first maturity shall be no earlier than December 1, 2005, and that the final maturity shall be no later than December 1, 2024. All payments of interest on the 2004 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 2004 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 2004 Bonds shall be payable from the interest payment date to which interest has been paid next preceding the authentication date thereof unless such 2004 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 immediately preceding the first interest payment date, in which case they shall bear interest from the original date, until the principal shall be fully paid. -4-