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denominations of $5,000 and whole multiples thereof. On and <br /> after the Second Conversion Date, the Bonds shall bear interest <br /> at a rate to be determined upon the sale thereof on the Second <br /> Conversion Date, but in no event shall the interest rate on the <br /> Bonds after the Second Conversion Date and prior to the Third <br /> Conversion Date (as defined in the Indenture, as amended) exceed <br /> ten percent (10%) per annum. From and after the Third Conversion <br /> Date, the Bonds shall bear interest at such rates as shall be <br /> determined in accordance with the applicable provisions of the <br /> Indenture, as amended, which provisions are hereby specifically <br /> approved by the City and incorporated herein. The Bonds shall be <br /> payable in such medium and at such places, provide such <br /> registration privileges, and be subject to redemption or <br /> prepayment prior to maturity as provided in the Indenture, as <br /> amended, the terms of which are incorporated herein. The Bonds <br /> shall be limited obligations of the City and shall not constitute <br /> a general obligation of the City. <br /> SECTION 3. Approval of Supplemental Indenture and Amendment <br /> to Loan Agreement. The forms of the Second Supplemental Inden- <br /> ture, Second Loan Agreement Amendment and a certain Third Amend- <br /> ment to Contract for Sale of Land for Private Development ( "Sale <br /> Amendment" ) on file with the Clerk of the Council (the "Clerk" ) <br /> are hereby approved. National Bank of Commerce as Trustee shall <br /> signify its acceptance of such documents by executing and <br /> delivering the Second Supplemental Indenture. Two copies of the <br /> Second Supplemental Indenture, Second Loan Agreement Amendment <br /> and Sale Amendment are on file in the office of the Clerk for <br /> public inspection. <br /> SECTION 4. Execution and Delivery of Documents and Changes <br /> Therein. The Mayor of the City (the "Mayor" ) , who is the chief <br /> executive officer of the City, and the Clerk are hereby <br /> authorized to execute and deliver the Second Supplemental <br /> Indenture, Second Loan Agreement Amendment and Sale Amendment in <br /> substantially the forms approved, with such changes and inser- <br /> tions in such documents as may be necessary or desirable, per- <br /> mitted by the Act and otherwise by law, and not materially <br /> adverse to the City. <br /> SECOND 5 . Remarketing and Purchase of Bonds. On the Second <br /> Conversion Date, the Bonds shall be remarketed and purchased by <br /> or on behalf of the Developer as provided in the Indenture, as <br /> amended; provided they shall not be issued to the extent that <br /> proceeds of the remarketing of the Bonds are insufficient to pur- <br /> chase all Remarketed Bonds on the Second Conversion Date, in <br /> which case all Remarketed Bonds shall be redeemed on the Second <br /> Conversion Date. The Mayor and Clerk shall execute, seal and <br /> deliver the Bonds in substantially the form set forth as an <br /> Exhibit to the Second Supplemental Indenture upon the receipt by <br /> the Trustee of proceeds sufficient to purchase all Remarketed <br /> Bonds on the Second Conversation Date. The signatures of the <br /> Mayor and Clerk on the Bonds may be manual or facsimile <br /> signatures. <br /> - 3 <br />