Authorizing $10,000,000 Revenue Obligations Rahn Proeprties II

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payment and at such place or places, tion at the times and in the manner, higher rates and shall contain such vided in the Indenture of Trust (the and a state or national bank located the purchaser of the Series A Bonds. shall be subject to redemp- shall bear interest at such other provisions as are pro - "Indenture ") between the City in Indiana and approved by The Series A Bonds shall be executed on behalf of the City with the official manual or facsimile signature of the Mayor and attested with the official manual or facsimile signature of the City Clerk and the corporate seal of the City or a facsimile thereof shall be impressed or imprinted thereon. The Series A Bonds are limited obligations of the City payable solely from payments of principal, premium, if any, and interest made by the Partnership on the Series A Note in the form attached as Exhibit B to the Loan Agreement, except to the extent that the principal of, premium, if any, and interest on the Series A Bonds may be paid out of money attributable to Series A Bond proceeds or from temporary investments, or from other moneys, if any, accruing to the Bond Trustee for the benefit of the bondholders. The Series A Bonds do not and shall newer constitute an indebtedness of, or a charge against the general credit or taxing power of, the City. By the Indenture, the City will assign or pledge to the Trustee the City's rights under the Loan Agreement, including the right of the City to receive payments under the Series A Note, all as security for the payment of the Series A Bonds. Section 5. Indenture. In order to secure payment of the principal of and interest on the Series A Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver in the name and on behalf of the City the Indenture to be dated as of the first day of the month in which the Series A Bonds are issued and in substantially the form submitted to the Common Council and before the meeting at which this Ordinance is adopted,, which is hereby approved in all respects.. Section 6. Loan Agreement. In order to provide for the loan of the proceeds of sale of the Series A Bonds to the Partner- ship and to provide for the payment by the Partnership of an amount sufficient to pay the principal of and premium, if any, and interest on the Series A Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver in the name and on behalf of the City the Loan Agreement to be dated as of the first day of the month in which the Series A Bonds are issued and in substantially the form submitted to this Common Council and before the meeting at which this Ordinance is adopted, which is hereby approved in all respects. Section 7. Acceptance of Series A Note of Partnership. In connection with the Series A Bonds, the City accepts as security for such Series A Bonds the Series A Note in substantially the form attached as Exhibit B to the Loan Agreement. Section 8. Sale. The Series A Bonds shall be sold to the Aetna Casualty and Surety Company, Hartford, Connecticut, pur- suant to a Bond Purchase Agreement in substantially the form before the meeting of the Common Council at which this Ordinance is adopted at a price of 100% of the principal amount thereof plus accrued in- terest, if any. The Mayor and City Clerk are authorized to execute and deliver such Bond Purchase Agreement in substantially the form before the meeting at which this Ordinance is adopted. -3-