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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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in the event more than one series of BANS is expected to be issued in such calendar year). The <br />BANS shall be issued pursuant to Indiana Code 4-4-11 and 13-18-13 if sold to the Authority, <br />pursuant to Indiana Code 5-1.5-8-6.1 if sold to the Bond Bank, or pursuant to Indiana Code 5-1- <br />14-5 if sold to an eligible purchaser thereunder. If the BANs are sold to the Authority, the <br />Financial Assistance Agreement shall serve as the BAN Purchase Agreement. The BANS shall <br />be issued in fully registered form, shall be numbered consecutively from R-1 (with the <br />blank to be filled in with the last two digits of the calendar year in which such series of the BANS <br />is issued, with an appropriate series designation in the event more than one series of BANS is <br />expected to be issued in such calendar year) upwards, shall be in multiples of One Dollar ($1), <br />shall be dated as of the date of issuance of the BANs, and shall bear interest at a rate or rates not <br />exceeding five percent (5.0%) per annum (or at such rate as provided in the Purchase Agreement <br />if the BANS are sold to the Bond Bank or as provided in the Financial Assistance Agreement if <br />the BANS are sold to the Authority),. the exact rate of interest to be determined by negotiations <br />with the purchaser of the BANS and payable as provided in the BAN Purchase Agreement. The <br />initial BANS delivered will mature on the date provided in the BAN Purchase Agreement. Each <br />subsequent BAN delivered will bear the same maturity date as the initial BANS. The BANS shall <br />be subject to renewal or extension, subject to the limitations set forth below, at an interest rate <br />not to exceed five percent (5.0%) per annum (or at such rate as provided in the Purchase <br />Agreement if the BANS are sold to the Bond Bank or as provided in the Financial Assistance <br />Agreement if the BANS are sold to the Authority) with the exact rate to be negotiated with the <br />purchaser of such BANS. The term of the BANS and all renewal BANS may not exceed five (5) <br />years from the date of delivery of the initial BANs. <br />BDDBOI 5738468v1 <br />- 14- <br />
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