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• The effect of the above provisions shall be to continue the applicable provisions of Ordinance <br /> No. 2009-12-1 in full force and effect after the Series 2010 Bond is paid or provision made <br /> therefor. <br /> Section 4. The Series 2011 Bond shall be in substantially the following form, <br /> and the Mayor and City Clerk are hereby authorized and directed to make all the recitals <br /> contained therein: <br /> (form of Series 2011 Bond) <br /> UNITED STATES OF AMERICA <br /> STATE OF ARKANSAS <br /> COUNTY OF INDEPENDENCE <br /> CITY OF BATESVILLE <br /> 1.50% SALES AND USE TAX BOND, SERIES 2011 <br /> No. R-1 $20,000,000 <br /> KNOW ALL MEN BY THESE PRESENTS: <br /> That the City of Batesville, Independence County, Arkansas (the "City"), for <br /> • value received, hereby acknowledges itself to owe and promises to pay to the Arkansas <br /> Development Finance Authority, or registered assigns, solely from the special fund provided as <br /> hereinafter set forth,the principal sum of <br /> TWENTY MILLION DOLLARS <br /> (or the total principal amount outstanding as reflected <br /> by the Record of Payment of Advances attached hereto) <br /> with interest on the unpaid balance of the total principal amount at the rate of 1.50% per annum <br /> from the date of each advance. The principal and interest shall be payable in such coin or <br /> currency of the United States of America as at the time of payment shall be legal tender for the <br /> payment of debts due the United States of America. <br /> Interest on the unpaid balance of the total principal amount shall be payable on <br /> October 15, 2011 and on each April 15 and October 15 thereafter. Principal shall be payable in <br /> installments on October 15, 2014, and on each April 15 and October 15 thereafter until the <br /> unpaid principal is paid as follows: <br /> Date Amount <br /> (There will be inserted the schedule set <br /> forth in Section 2 of this Ordinance.) <br /> • <br /> 4 <br />