Authorizing the Issuance & Sale $2,400,000 Allied Products Corp

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Section 5. Indenture. In order to secure the payment of the principal of, premium (if any) and interest on the Series B Bonds, the Mayor and City Clerk of the City shall execute, acknowledge and deliver, in the name and on behalf of the City, the Indenture in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 6. Parcel B Lease Agreement and Amendment to Parcel A Lease Agreement. In order to provide for the leasing of the Series B Project and the payment by the Company of rentals in an amount sufficient to pay the principal of and premium, if any, and interest on the Series B Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver in the name and on behalf of the City a Parcel B Lease Agreement and an Amendment to Parcel A Lease Agreement in substantially the form submitted to this Common Council, which are hereby approved in all respects. Section 7. Series B Mortgage. In order to further secure the payment of the principal of, premium (if any) and interest on the Series B Bonds, the Mayor and City Clerk of the City shall execute, acknowledge and deliver in the name of and on behalf of the City a Series B Mortgage in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 8. Election Pursuant to Internal Revenue Code. The City hereby elects to have the provisions of Section 103(b) (6)(D) of. the Internal Revenue Code of 1954, as amended, apply to the Series B Bonds, and the Mayor and City Clerk shall execute such certificate and take such action as is required to evidence such election. Section 9. No- Arbitrage. The proceeds of issuance and delivery of the Series B Bonds shall be deposited in the Series B Bond Fund and the Series B Construction Fund as provided in Article VI of the Indenture and used for the purposes for which said Bonds are authorized. The principal proceeds of the Series B Bonds hereby authorized shall be devoted to and used with due diligence for the acquisition, improvement and construction of the Project. The Mayor and City Clerk are hereby authorized and directed to execute such certificate with respect to the use of the proceeds of the Series B Bonds as may be necessary or desirable pursuant to the provisions of Section 103(c) of the Internal Revenue Code of 1954, as amended, and regulations thereunder, including Sections 1.103 -13 and 1.103 -14 of the Federal Income Tax Regulations. Such certificate shall constitute a certification and representation of the City, and the City will take no action in contravention of the expectations prescribed by such certificate. Section 10. General. The Mayor and City Clerk be and they are each hereby authorized and directed, in the name and on behalf of the City, to execute any and all instruments, perform any and all acts, approve any and all matters, and do any and all things deemed by them, or either of them, to be necessary or desirable in order to carry out the purposes of this Bond Ordinance (including the preambles hereto), the acquisition, construction and leasing of the Series B Project, the issuance and sale of the Series B Bonds, and the securing of the Series B Bonds under the Indenture and under the Series B Mortgage. Such execution shall constitute approval by the City of any and all charges or variations from the forms of documents submitted-to the Common Council. Me