Confirming the Sale of $2,300,000 Economic Development Revenue Bonds

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Section 2. For the purpose of financing and acquiring the Project, including necessary expenses incidental thereto, there are hereby authorized to be issued the bonds of the City in the principal sum of $2,300,000, which bonds shall be designated Economic Development Revenue Bonds, Series 1975 (St. Joseph Develop- ment Co., Inc. Project) (the "Series 1975 Bonds "), and shall be pay- able in lawful money of the United States of America at.the main office of the Trustee, or its successor in trust under the provisions of the Indenture. The Series 1975 Bonds shall be issuable as coupon bonds; registrable as to principal only, or as to principal and interest; $5000 denomination; dated March 1, 1975, mature on March 1 of each of the years and in the principal amounts, and bear interest at the respective rates as follows: - 4 - PRINCIPAL INTEREST YEAR AMOUNT RATE 1976 $ 55,000 6.00% 1977 65,000 6.00% 1978 65,000 6.00% 1979 70,000 6.00% 1980 75,000 6.00% 1981 75,000 6.50% 1982 85,000 6.50% 1983 90,000 6.50% 1984 95,000 6.50% 1985 105„000 6.50% 1986 110,000 6.75% 1987 115,000 6.75% 1988 125,000 6.75% 1989 135,000 6.75% 1990 145,000 6.75% 1991 155,000 7.00% 1992 165,000 7.00% 1993 175,000 7.00% 1994 190,000 7.00% 1995 205,000 7.00% - 4 -