Issue Economic Development Revenue Bonds (B & R Investments)

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Section 5. The City shall issue its Economic Develop- ment Revenue Bonds, Series 1985 (B & R Investments, an Indiana Partnership Project) , in the aggregate principal amount of Three Hundred Twenty-Five Thousand Eight Hundred Dollars ($325,800 . 00) in order to finance the acquisition of such facilities, as more particularly set out in said Loan Agree- ment, Mortgage and Security Agreement, which Economic Develop- ment Revenue Bonds shall be payable as to principal and inter- est solely from the payments made by the Company on its afore- said Promissory Note in the principal amount of Three Hundred Twenty-Five Thousand Eight Hundred Dollars ($325, 800 . 00) which will be executed and delivered by the Company, from other sources under said Loan Agreement, Mortgage and Security Agree- ment, and as otherwise provided in said Bond Purchase Agree- ment . Said Economic Development Revenue Bonds shall never con- stitute general obligations of, indebtednesses of, or charges against the general credit of the City. Said Economic Develop- ment Revenue Bonds shall be executed by the manual or facsimile signatures of the Mayor and the Clerk of the City; shall be executed and delivered on or about December 19 , 1985; shall be dated as of the date of closing; shall have a final payment date of January 1, 1996 with principal and interest paid in equal monthly installments beginning on February 1, 1986; shall bear interest at a per annum rate of nine percent (9%) except in the case of an Event of Taxability as defined in the Loan Agreement, in which case the higher interest rate specified in the Loan Agreement, Mortgage and Security Agreement as the tax- -4-