Resolution Nos. 3637 & 3638 RIF Bonds (Drewrys Portage Elwood) - Signed

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4 day year comprised of twelve 30-day months. The Bonds shall mature serially on the dates determined by the President at the time of the sale of the Bonds, over a period beginning not earlier than August 1, 2025, and ending not later than 20 years from the date of issuance, each serial maturity to be in such principal amount as determined by the President, with the advice of the Commission’s municipal advisor; provided that if the Bonds are sold to the Indiana Finance Authority as part of the IFA Program, then in such amounts that will produce annual debt service that is as level as practicable, except as otherwise provided in the Financial Assistance Agreement. The Bonds may be issued as either taxable or tax-exempt bonds for purposes of the Internal Revenue Code based solely on the determination of the President upon advice of the Commission’s bond counsel at the time of issuance of the Bonds. Notwithstanding anything to the contrary herein, all or a portion of the Bonds may be aggregated into and issued as one or more term bonds. The term bonds will be subject to mandatory sinking fund redemption with sinking fund payments and final maturities corresponding to the serial maturities described above. Sinking fund payments shall be applied to retire a portion of the term bonds as though it were a redemption of serial bonds, and, if more than one term bond of any maturity is outstanding, redemption of such maturity shall be made by lot. Sinking fund redemption payments shall be made in a principal amount equal to such serial maturities, plus accrued interest to the redemption date, but without premium or penalty. For all purposes of this resolution, such mandatory sinking fund redemption payments shall be deemed to be required payments of principal which mature on the date of such sinking fund payments. Appropriate changes shall be made in the definitive form of Bonds, relative to the form of Bonds contained in this resolution, to reflect any mandatory sinking fund redemption terms. Notwithstanding anything contained herein, the City may accept any other forms of financial assistance, as and if available, from the IFA Program (including without limitation any forgivable loans, grants or other assistance whether available as an alternative to any Bond related provision otherwise provided for herein or as a supplement or addition thereto). If required by the IFA Program to be eligible for such financial assistance, one or more of the series of the Bonds issued hereunder may be issued on a basis such that the payment of the principal of or interest on (or both) such series of Bonds is junior and subordinate to the payment of the principal of and interest on other series of Bonds issued hereunder (and/or any other revenue bonds secured by a pledge of the Tax Increment, whether now outstanding or hereafter issued), all as provided by the terms of such series of Bonds as modified pursuant to this authorization. Such financial assistance, if any, shall be as provided in the Financial Assistance Agreement and the Bonds of each series of Bonds issued hereunder (including any modification made pursuant to the authorization in this paragraph to the form of Bond otherwise contained herein). (b)Source of Payment. The Bonds, together with any bonds ranking on a parity therewith, shall be payable from and secured by an irrevocable pledge of Tax Increment derived from each of the Allocation Areas and deposited into the respective Allocation Fund, along with any legally available revenues of the Commission, on a parity with the 2020 Obligation and senior to the payment of the Junior Obligations. For the avoidance of doubt, tax increment revenues derived from the Riverwalk Allocation Area designated within the Area are not pledged to the payment of principal of and interest on the Bonds. (c) Payments. All payments of interest on the Bonds shall be paid by check mailed