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Revenues"). The bond and interest thereon shall not constitute an- indebtedness of the City within any constitutional or statutory limitation. Section 4. The bond shall be in substantially the following form, and the Mayor and City Clerk are hereby authorized and directed to make all the recitals contained therein: (form of bond) UNITED STATES OF AMERICA STATE OF ARKANSAS COUNTY OF INDEPENDENCE CITY OF BATESVILLE 0.75% SALES AND USE TAX BOND, SERIES 2024C No. R-1 $110,000,000 KNOW ALL MEN BY THESE PRESENTS: That the City of Batesville, Independence County, Arkansas (the "City"), for value received, hereby acknowledges itself to owe and promises to pay to the Arkansas Development Finance Authority, or registered assigns,the principal sum of ONE HUNDRED TEN MILLION DOLLARS (or the total principal amount outstanding as reflected by the Record of Payment of Advances attached hereto) with interest on the unpaid balance of the total principal amount at the rate of 0.75% per annum from the date of each advance. The principal and interest shall be payable in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of debts due the United States of America. Interest on the unpaid balance of the total principal amount shall be payable on 1, 202_ and on the first day of each month thereafter. Principal shall be payable in installments on May 1,2028 and on the first day of each month thereafter until the unpaid principal is paid in full as shown on Exhibit A attached hereto. Payments of the principal and interest installments due hereon shall be made,except for final payment,without presentation and surrender of this bond,directly to the registered owner at his address shown on the bond registration book of the City maintained by the City Clerk as Bond Registrar, and such payments shall fully discharge the obligation of the City to the extent of the payments so made. This bond is issued to finance all or a portion of the costs of constructing extensions, betterments and improvements to the water facilities of the City's water and sewer system and any necessary demolition related thereto and to pay costs of authorizing and issuing this bond, and is issued pursuant to and in full compliance with the Constitution and laws of the State of Arkansas (the "State"), including particularly Amendment No. 62 to the Arkansas Constitution and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing 3