08-10-09 Common Council Meeting Agenda & Packet

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commencing 1, Interest shall be calculated on the basis of twelve (12) thirty (30)-day months for a three hundred sixty (360)-day year. [The principal of and premium, if any, on this Bond is payable at the [principal corporate trust] office of in the of ,Indiana, or of any successor registrar and paying agent appointed by the City pursuant to the Ordinance hereinafter mentioned (the "Registrar" and the "Paying Agent").] All payments of [principal of and] interest hereon will be paid by cash or draft mailed or delivered by the Paying Agent to the Registered Owner hereof at the address as it appears on the registration books kept by [the Controller of the City (the "Registrar" or "Paying Agent") in the City or the Registrar ] as of the fifteenth day of the month immediately preceding the applicable interest payment date or at such other address as is furnished to the Paying Agent in writing by such Registered Owner. All payments on this Bond shall be made in any coin or currency of the United States of America which, on the dates of such payments, shall be legal tender for the payment of public and private debts. Notwithstanding the foregoing paragraph, so long as this Bond is registered in the name of the Indiana Finance Authority (the "Authority"), principal of and interest on this Bond shall be paid by wire transfer to a financial institution designated by the Authority on the due date of such payment or, if such date is a day when financial institutions are not open for business, on the business day immediately preceding such due date. So long as the Authority is the registered owner of this Bond, this Bond shall be presented for payment as directed by the Authority. So long as the Authority is the registered owner of this Bond, it is understood that principal shall not be payable and interest shall not accrue on ibis Bond until such principal amount has been advanced pursuant to requests made by the City to the Authority. This Bond and the other bonds of this issue, together with the interest payable hereon and thereon, are payable solely from and secured by an irrevocable pledge of and constitute a charge upon all of the net revenues (defined to be gross revenues after deduction only for the payment of the reasonable expenses of operation, repair and maintenance) derived from the sewage works of the City, including the existing works, the improvements and extensions acquired or constructed out of the proceeds of this Bond and the issue of which it is a part, and all additions and improvements thereto subsequently acquired or constructed; and rank on a parity with the Prior Bonds (as defined in the Ordinance (defined herein)). The City shall not be obligated to pay the principal of or interest on this Bond except from the special fund, entitled the "Sewage Works Sinking Fund" heretofore created by Ordinance No. ,adopted on , and subsequently continued, provided from the net revenues of such sewage works, and neither this Bond nor any of the bonds of the issue of which this Bond is a part shall constitute an indebtedness of the City within the meaning of the provisions and limitations of the constitution of the State of Indiana. The City, the Registrar and the Paying Agent may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal hereof and the interest due hereon and for all other purposes, and none of the City, the Registrar or the Paying Agent shall be affected by any notice to the contrary. BDDBOI 5738468v1 A-2