Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds

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subsequent to the date of the adoption of this Ordinance. Such Purchase Agreement may set forth the definitive terms and conditions for such sale, but all of such terms and conditions must be consistent with the terms and conditions of this Ordinance, including without limitation, the interest rate or rates on the 1998 Bonds which shall not exceed the maximum rate of interest for the 1998 Bonds authorized pursuant to this Ordinance. 1998 Bonds sold to the Bond Bank shall be accompanied by all documentation required by the Bond Bank pursuant to the provisions of Indiana Code 5-1.5 and the Purchase Agreement, including, without limitation, an approving opinion of nationally recognized bond counsel, certification and guarantee of signatures and certification as to no litigation pending, as of the date of delivery of the 1998 Bonds to the Bond Bank, challenging the validity or issuance of the 1998 Bonds. In the event the Controller determines. to sell one or more series of the 1998 Bonds to the Bond Bank, the submission of an application to the Bond Bank and the entry by the City into the Purchase Agreement and the execution of the Purchase Agreement on behalf of the City by the Mayor in accordance with this Ordinance are hereby authorized approved and ratified. One or more series of the 1998 Bonds may, in the discretion of the Controller, be sold to the State, including any such sale through the Bond Bank, pursuant to its State Wastewater Revolving Loan Fund Program ("SRF Program"). The Mayor and the Clerk are hereby authorized to submit an application to the State for participation in the SRF Program. As a part of the SRF Program, the Financial Assistance Agreement for the 1998 Bonds and the Project shall be executed by the City and the State. The substantially final form of Financial Assistance Agreement attached as Annendix BB hereto and incorporated herein as if set forth in this place is hereby approved by the Common Council, and the Mayor and the Clerk are hereby authorized to execute the same on behalf of the City, and to approve any changes in form or substance to the Financial Assistance Agreement, such approval to be conclusively evidenced by its execution. The Financial Assistance Agreement may set forth the definitive terms and conditions for such sale including the purchase price and interest rate, but all of such terms and conditions must be consistent with the terms and conditions of this Ordinance, including, without limitation, the interest rates on the 1998 Bonds which shall not exceed the maximum rate of interest for the 1998 Bonds authorized pursuant to this Ordinance. 1998 Bonds sold to the State shall be accompanied by all documentation required by the State pursuant to Indiana Code 13-18-13, 327 IAC 13 and the Financial Assistance Agreement, including, -15- ::ODMA\PCDOCS\SBDOCS 1 \ 14947\3