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Event of Taxability as defined in the Loan Agreement, in which <br />case the per annum interest rate shall equal said national <br />prime rate of interest; shall be issued in registered form; <br />shall be registrable as provided therein; shall be payable in <br />the medium and at the place or places provided therein; and <br />shall be subject to optional and mandatory prepayment as pro- <br />vided therein. <br />Section 6. The Mayor and /or the Clerk of the City are <br />authorized and directed to sell said Economic Development <br />Revenue Bonds to Valley American Bank and Trust Company at a <br />price not less than one hundred percent (100 %) of the principal <br />amount thereof, plus accrued interest, if any. <br />Section 7. The Mayor and the Clerk of the City are <br />authorized and directed to execute and deliver the afore- <br />mentioned documents for and on behalf of the City after making <br />therein such changes permitted by the Act as they deem neces- <br />sary or proper, as evidenced by their execution of such docu- <br />ments, and are further authorized and directed to execute and <br />deliver such other documents for and on behalf of the City, and <br />to take such other actions for and on behalf of the City, as <br />they deem necessary or proper in connection with the consum- <br />mation of such financing. The Mayor and the Clerk of the City <br />are authorized to arrange for the delivery of said Economic <br />Development Revenue Bonds to Valley American Bank and Trust <br />Company, payment for which will be made to the Trustee for the <br />account of the City. <br />Section 8. The provisions of this ordinance and the <br />aforementioned documents shall constitute a contract binding <br />between the City and the holders of said Economic Development <br />Revenue Bonds, and after the issuance of said Economic Develop- <br />