05-26-09 Common Council Meeting Agenda & Packet

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the City of its right to receive any PILOT Payments to the rights of the bondholders of the 2009 Bonds and any Parity Bonds to receive debt service payments on such 2009 Bonds and Parity Bonds. Such amendments cure ambiguities or formal defects or omissions, and furthermore, the Council hereby determines that such amendments do not aversely affect the interest of the owners of the Parity Bonds. Therefore, such amendments are made in compliance with Section 23 of the 1997 Ordinance, Section 23 of the 2000 Ordinance, Section 23 of the 2002 Ordinance and Section 23 of the 2005 Ordinance. All payments of interest on the 2009 Bonds shall be paid by check mailed one business day prior to the interest payment date to the registered owners thereof as of the fifteenth (15th) day of the month preceding the interest payment date (the "Record Date") at the addresses as they appear on the registration and transfer books of the City kept for that purpose by the Registrar (the "Registration Record") or at such other address as is provided to the Paying Agent in writing by such registered owner. Each registered owner of $1,000,000 or more in principal amount of 2009 Bonds shall be entitled to receive interest payments by wire transfer by providing written wire instructions to the Paying Agent before the Record Date for any payment. If any of the 2009 Bonds or BANS are registered in the name of the Indiana Finance Authority or the Indiana Bond Bank, the principal thereof and interest thereon shall be paid by wire transfer to such financial institution if and as directed by the Indiana Finance Authority or Indiana Bond Bank, as the case may be, on the due date of such payment or, if such due date is a day when financial institutions are not open for business, on the business day immediately after such due date. So long as the Indiana Finance Authority or Indiana Bond Bank is the owner of any of the 2009 Bonds or BANS, such 2009 Bonds or BANS shall be presented for payment as directed by the Indiana Finance Authority or Indiana Bond Bank, as the case may be. All principal payments and premium payments, if any, on the 2009 Bonds shall be made upon surrender thereof at the principal office of the Paying Agent, in any U.S. coin or currency which on the date of such payment shall be legal tender for the payment of public and private. debts, or in the case of a registered owner of $1,000,000 or more in principal amount of 2009 Bonds, by wire transfer on the due date upon written direction of such owner provided at least fifteen (15) days prior to the maturity date or redemption date. Interest on any 2009 Bonds sold to the Indiana Finance Authority or the Indiana Bond Bank shall be paid from the date of delivery of the 2009 Bonds. Interest on 2009 Bonds not sold to the Indiana Finance Authority or the Indiana Bond Bank shall be payable from the interest payment date to which interest has been paid next preceding the authentication date thereof unless such 2009 Bonds are authenticated after the Record Date for an interest payment date and on or before such interest payment date in which case they shall bear interest from such interest payment date, or unless authenticated on or before the Record Date for the first interest payment date, in which case they shall bear interest from the original date, until the principal shall be fully paid. SECTION 4. Transfer and Exchange of Bonds. Each 2009 Bond shall be transferable or exchangeable only upon the Registration Record, by the registered owner thereof in writing, or by the registered owner's attorney duly authorized in writing, upon surrender of such 2009 Bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly executed by the registered owner or such attorney, and thereupon a new fully registered 2009 Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be -6-