9937-09 Concerning the Construction of Improvements to the Municipal Waterworks of the City

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ARTICLE II PURPOSE OF BORROWING AND LOAN TERMS Section 2.01, Amount; Purpose. The Finance Authority agrees to Loan an amount not to exceed Million Thousand Dollars ($ ,000) in aggregate principal amount to the Participant as Financial Assistance to pay for the Eligible Costs, as hereinafter described, of the Project on, and subject to, the terms and conditions contained herein. The Loan shall be used only to pay the following Eligible Costs: (a) eligible planning services for the production of a Preliminary Engineering Report ("Planning"), (b) eligible design services for the production of Plans and Specifications ("Design") and (c) eligible construction costs, including financing and legal costs ("Construction"). The Loan shall be funded solely from unallocated and available proceeds of the 2009 Recovery Grant or from other sources (including its Purchase Account and Equity Accounts) that the Finance Authority may, in its sole discretion, designate. The Loan is evidenced by the Bonds executed and delivered by the Participant contemporaneously herewith. The Bonds shall be in fully registered form, with the Finance Authority registered as the registered owner. So long as the Finance Authority is the registered owner, the principal of and redemption premium, if any, and interest on the Bonds shall be paid to the Trustee by a wire transfer referenced as follows: The Bank of New York, ABA 021 000 018, For Credit to GLA: 111-565, For Final Credit: TAS #610026, Account Name: IN SRF QE Deposit, Attn: Amy L Oram. The Participant agrees to undertake and complete the Project and to receive and expend the Loan proceeds in accordance with this Agreement. Section 2.02. The Bonds. (a) Until paid, the Waterworks Revenue Bonds of 2009 ("2009 Bonds") will bear interest at the per annum rate of and One-Hundredths percent ~%). Such interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months, and be as provided in I.C. 13-18-21-10 and -15. Interest, if any, on the 2009 Bonds will be payable on January 1 and July 1 of each year, commencing January 1, 2010. The 2009 Bonds will be in the aggregate principal amount of Million Thousand Dollars ($ ,000). Subject to Section 2.05 and 2.06 herein, the 2009 Bonds will mature on January 1 of each of the years set forth in, and at the principal amount set opposite each such month and year set forth in the schedule contained in the attached Exhibit B to this Agreement (which is hereby incorporated by reference); provided, however, notwithstanding the foregoing or the terms of the 2009 Bonds to the contrary, no maturity of 2009 Bonds shall extend beyond the date which is twenty (20) years after Substantial Completion of Construction. If the maturity date for any 2009 Bonds is beyond such date, unless otherwise agreed to, such 2009 Bonds, together with accrued and unpaid interest thereon, will be due and payable on such date. (b) Until paid, the Waterworks Bond Anticipation Note of 2009 ("2009 BAN") will bear interest at the per annum rate of zero percent (0%). Such interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months, and be as provided in I.C. 13-18-21-10 and -15. Interest, if any, on the 2009 BAN will be payable on January 1 and July 1 of each year, 8