1993-07-15 Resolution 79 - Laserfiche WebLink

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DESCRIPTION OF THE TAXABLE 1993 BONDS (COIIt'd) Denomination: The Taxable 1993 Bonds are being issued in denominations of $5,000 or integral multiples thereof. Registration and Exchange Features: The Trustee shail keep at its principal corporate trust office, a record for the registratiot of the Taxable 1993 Bonds. Each registered bond shall be transferable only on such record at the principal corporate trust office of the Trustee at the written request of the registered owner thereof or by such owner's attorney duly authorized in writing upon surrender thereof, together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner or duly authorized attorney. Provisions for Pavment: The principal of the Taxable 1993 Bonds shall be payable at the principal corporate trust office of the Trustee. All payments of interest on the Taxable 1993 Bonds shall be paid by check, mailed one business day prior to the interest payment date to the registered owners as the names appeaz as of the fifteenth day of the month preceding the interest payment date and at the addresses as they appeaz on the registration books kept by the Trustee or at such other address as is provided to the Trustee. Payments on the Taxable 1993 Bonds shall be made in any lawful money of the United States of America, which on the date of such payment, shall be legal tender. Notices: Notice of redemption shall be mailed by the Trustee to the registered owners of all bonds, not less than 30 days prior to the date fined for redemption. If the Trustee resigns, notice shall be given to the registered owners by mail at least 20 days prior to the date when such resignation shall take effect. For a more complete description of the Taxable 1993 Bonds, see "Securities Being Offered": "Description of the Taxable 1993 Bonds" or refer to the Bond Resolution in Appendix C. TAX MATTERS IN THE OPINION OF BAKER & DANIELS, BOND COUNSEL, INTEREST ON THE TAXABLE 1993 BONDS IS NOT EXCLUDABLE FROM GROSS INCOME FOR FEDERAL INCOME TAX PURPOSES. In the opinion of Baker & Daniels, interest on the Taxable 1993 Bonds is exempt from income taxation in the State of Indiana, for all purposes except the Indiana financial institutions tax and the Indiana inheritance tax. See Appendix G. PROFESSIONALS The following professionals have been retained by the Authority and the Commission to provide services for the issuance of the Taxable 1993 Bonds. Trustee, Registrar, Paying Agent and Escrow Trustee: Bond Counsel Financial Advisor: Society National Bank, Indiana, South Bend, Indiana Baker & Daniels, South Bend, Indiana H.J. Umbaugh & Associates, Certified Public Accountants, Indianapolis, Indiana IJ