Approving Industrial Development Revenue Bonds STC Recycling Inc Project

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of all such documents are on file in the office of the City Clerk for public inspection. Section 3. The Loan Agreements and Security Agree- ments shall be executed manually on behalf of the City by the Mayor and City Clerk and sealed with the corporate seal of the City. Section 4. Said Bonds, payable solely and only from the revenue derived from the STC Recycling, Inc. Project may be issued in the maximum principal amount of One Million Three Hundred Thousand and no /100 Dollars ($1,300,000.00) bearing interest at a rate of ten percent (10 %) per annum for a period not exceeding seven (7) years after the first installment of principal due thereon, in accordance with the terms of said Loan Agreement. Said Bonds shall be dated August 29, 1983 and shall be executed and delivered on or about August 29, 1983 on behalf of the City by the Mayor and City Clerk and shall be sealed with the corporate seal of the City. Said Bonds shall never constitute general obligations of, indebtedness of, or charges against the general credit of the City. The Bonds shall be issued in fully- registered form; shall be registrable as provided therein; shall be payable in the medium and at the place or places provided therein; and shall be subject to op- tional and mandatory prepayment as provided therein. The Bonds shall be issued as a Series A Bond in the principal amount of One Million Seventy Thousand Seven Hundred Eighty-six Dollars ($1,070,786.00) and a Series B Bond in the principal amount of -3-