11182-25 Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respect Thereto in Connection With the J. C. Hart Development Project

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accordance with the provisions of Indiana Code 36-1-5-4, two (2) copies of the Financing Documents are on file in the office of the Clerk for public inspection. SECTION IV. Authorization of the Bonds; Terms of the Bonds. The City shall issue the Bonds in one(1)or more series in the maximum aggregate principal amount not to exceed Seventeen Million Dollars ($17,000,000), which Bonds shall mature not later than twenty-five (25) years after the date of issuance of the Bonds, and shall bear interest at a per annum rate not exceeding eight percent(8%)per annum. The Bonds may be issued on a draw basis. Principal and interest on the Bonds shall be payable on February 1 and August 1 of each year, beginning not sooner than February 1,2026. The Bonds may be issued as serial bonds and/or term bonds subject to mandatory sinking fund redemption. The Bonds shall be subject to optional redemption prior to maturity and subject to redemption as otherwise provided in the Financing Documents. The Bonds shall be issued in minimum denominations of One Hundred Thousand Dollars ($100,000) and integral multiples of One Thousand Dollars ($1,000) in excess thereof. The Bonds are to be issued for the purpose of procuring funds to (a) pay all or a portion of the cost of acquisition, design, construction, renovation, improvement and equipping, as the case may be, of the Project, (b)pay capitalized interest on the Bonds for a period not to exceed one (1) year following project completion (if necessary), (c) fund a debt service reserve fund (if necessary), and (d) pay all incidental expenses on account of the issuance of the Bonds. The Bonds shall be lettered and numbered R-1 upward. The Bonds shall be special and limited obligations of the City, payable solely from the trust estate created and established under the Indenture(the"Trust Estate"), which Trust Estate shall consist of the funds and accounts created under the Indenture together with a pledge by the Redevelopment Commission of the Riverwalk Allocation Area TIF Revenues, subject to the terms and conditions of a Pledge Agreement between the Redevelopment Commission and the City (the "Pledge Agreement"), and, to the extent the Riverwalk Allocation Area TIF Revenues are insufficient for the payments of the principal of and interest due on the Bonds, a pledge by the Developer to pay such amounts (the "Minimum Taxpayer Payment") in order to make such principal and interest payments during such period as described in the Development Agreement and in a Taxpayer Agreement between the City, the Redevelopment Commission and the Developer (the "Taxpayer Agreement") and, in the event the Riverwalk Allocation Area TIF Revenues and the Minimum Taxpayer Payments are insufficient, from loan payments (each a"Loan Payment")made by the Developer under the Loan Agreement, and upon such terms and conditions as otherwise provided in the Financing Documents and this Ordinance. The Bonds and the interest thereon do not and shall never constitute an indebtedness of, or charge against the general credit of, or taxing power of the City, but shall be special and limited obligations of the City,payable solely from the Riverwalk Allocation Area TIF Revenues pursuant to the Pledge Agreement and, if necessary, the Minimum Taxpayer Payment as described in the Taxpayer Agreement and the Financing Documents and the Loan Payment as described in the Loan Agreement. The Mayor of the City(the"Mayor") and the Clerk(the"Clerk") are hereby authorized to approve with the advice of counsel, a Bond Purchase Agreement (the "Bond Purchase Agreement") with the Developer or the Developer's designee in a form and substance acceptable to the Mayor and the Clerk to provide for the sale of the Bonds. The Mayor and the Clerk are hereby authorized and directed to execute and deliver the Bond Purchase Agreement in a form and substance acceptable to them and consistent with the terms and conditions set forth in this Ordinance, with such acceptance of the form and substance thereof to be conclusively evidenced by their execution thereof. SECTION V. Execution and Delivery of Financing Documents. Each of the Mayor and the Clerk and any other officer of the City are authorized and directed to execute the Financing Documents, such other documents approved or authorized herein and any other document which may be necessary, appropriate or desirable to consummate the transaction contemplated by the Financing Documents, the Bond Purchase Agreement, and this Ordinance, and their execution is hereby confirmed on behalf of the City. The signatures of the Mayor, the Clerk and any other officer of the City on the Bonds which may be necessary or desirable to consummate the transaction, and their execution is hereby confirmed on behalf of the City. The signatures of the Mayor, the Clerk and any other officer of the City on the Bonds may be facsimile signatures or electronic signatures. The Mayor, the Clerk and any other officer of the City are authorized to arrange for the delivery of such Bonds to the purchaser thereof, payment for which will be made in the manner set forth in the Financing Documents. The Mayor, the Clerk and any other officer of the City may, by their execution of the Financing Documents requiring their signatures and imprinting of their facsimile signatures thereon, approve any and all such changes therein and also 3