Laserfiche WebLink
This bond may also be prepaid at the option of the City from funds from any <br /> other source, in whole but not in part, at any time on and after October 15, 2025, at a prepayment <br /> price equal to the principal amount outstanding, plus accrued interest to the prepayment date, <br /> upon 90 days' notice. Notice shall be given of each prepayment in writing mailed to the address <br /> of the owner of this bond or registered assigns at the address as reflected on the bond registration <br /> books of the City Clerk. <br /> IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, <br /> conditions and things required by the Constitution and statutes of the State to exist, happen and <br /> be performed precedent to and in the issuance of this bond do exist, have happened and have <br /> been performed in regular and due time, form and manner as required by law; that this bond does <br /> not exceed any constitutional or statutory limitation of indebtedness; and that provision has been <br /> made for the payment of the principal of and interest on this bond, as provided in the <br /> Authorizing Ordinance. <br /> IN WITNESS WHEREOF, the City of Batesville, Arkansas has caused this bond <br /> to be executed in its name by its Mayor and City Clerk, thereunto duly authorized, and its <br /> corporate seal to be affixed, all as of the day of , 2015. <br /> [The Bond shall contain signature spaces, a <br /> registration certificate and record of payment advances.] <br /> Section 5. (a) The City Treasurer shall set aside and make provision as set <br /> forth in (b) below from moneys in the special fund of the City heretofore created and designated <br /> "Sales and Use Tax Revenue Fund" (the "Revenue Fund") for the payment of the principal of <br /> and interest on the Series 2015 Bond by making a deposit as set forth in (b) below into an <br /> account of the City in a special fund to be created by the Bondholder (the "2015 ADFA Bond <br /> Fund") for the purpose of paying the principal of and interest on the Series 2015 Bond in the <br /> amounts specified in(b) below. <br /> (b) In order to pay interest on the Series 2015 Bond, there shall be deposited <br /> from moneys in the Revenue Fund into the 2015 ADFA Bond Fund on each April 15 and <br /> October 15 after the Series 2015 Bond is issued and delivered until April 15, 2018, the interest <br /> due on the Series 2015 Bond on such dates. Commencing on the first business day of each <br /> month thereafter, there shall be deposited into the 2015 ADFA Bond Fund from moneys in the <br /> Revenue Fund an amount equal to 1/6 of the amount of interest on and principal of the Series <br /> 2015 Bond next due. The deposit required herein shall be made contemporaneously with the <br /> deposit from the Revenue Fund into the 2010 ADFA Bond Fund required by Ordinance No. <br /> 2009-12-1, into the 2011 ADFA Bond Fund required by Ordinance No. 2011-06-03 and into the <br /> 2013 ADFA Bond Fund required by Ordinance No. 2013-06-01. The obligation to make <br /> deposits into the 2010 ADFA Bond Fund, the 2011 ADFA Bond Fund, the 2013 ADFA Bond <br /> Fund and the 2015 ADFA Bond Fund shall be on a parity of lien, pledge and security. If the <br /> available moneys in the Revenue Fund are insufficient to make the required deposits in full, the <br /> available moneys shall be distributed between the 2010 ADFA Bond Fund, the 2011 ADFA <br /> Bond Fund, the 2013 ADFA Bond Fund and the 2015 ADFA Bond Fund in proportion to the <br /> required deposits. <br /> 6 <br />