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2008-11-01
CITY-OF-BATESVILLE
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2008-11-01
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© ARTICLE II <br /> THE BONDS <br /> Section 201. Authorized Amount of Bonds. No Bonds maybe issued under the provisions <br /> of this Indenture except in accordance with this Article. The total principal amount of Bonds that <br /> maybe issued is hereby expressly limited to$100,000,000,except as provided in Sections 209,212 <br /> and 215 hereof. <br /> Section 202. Details of Series 2008 Bonds. (a) The Series 2008 Bonds (i) shall be <br /> designated "City of Batesville, Arkansas Taxable Industrial Development Revenue Bonds (Scroll <br /> Compressors LLC Project), Series 2008," (ii) shall be in the aggregate principal amount of not to <br /> exceed $100,000,000, (iii) shall be dated the date of original issuance and delivery thereof to the <br /> Purchaser; (iv) shall bear interest at the rate of six percent (6%) per annum until paid, payable <br /> semiannually on each Interest Payment Date, and(v) shall mature, unless sooner redeemed in the <br /> manner in this Indenture set forth,on December 1,2038. The Series 2008 Bonds shall be issued as <br /> registered bonds without coupons as is hereinafter provided. <br /> The Series 2008 Bonds shall be issued in the denomination of$100,000 each,or any integral <br /> multiple of$5,000 in excess of$100,000, numbered consecutively from R-1 upwards in order of <br /> issuance according to the records of the Trustee. <br /> The Series 2008 Bonds shall be initially issued in the form of one fully registered bond in the <br /> principal amount of$100,000,000 and may not be submitted in exchange for more than one fully <br /> registered bond until the Completion Date,at which time the Series 2008 Bond initially issued may, <br /> but shall not be required to, be submitted to the Trustee pursuant to the provisions of Section 210 <br /> hereof in exchange for more than one fully registered bond. The proceeds of the Series 2008 Bonds <br /> shall be advanced from time to time upon the submission of requisitions by the Company to the <br /> Trustee pursuant to the provisions of Section 602 hereof and Section 4.2 of the Lease Agreement. <br /> Upon receipt of each requisition by the Trustee,the Trustee shall telephonically notify the Purchaser <br /> of the principal amount of the Series 2008 Bonds which the Purchaser must purchase, which shall <br /> be the amount set forth in such requisition. Promptly upon receipt of such notice,the Purchaser shall <br /> pay to the Trustee the principal amount requisitioned by the Company, and the Trustee shall make <br /> a notation of such principal amount purchased on the Record of Advances and Principal Payments <br /> attached to the Bond. The amount shown on the Record of Advances and Principal Payments <br /> attached to the Bond shall be deemed to be conclusive evidence of the principal amount of the Series <br /> 2008 Bonds purchased by the Purchaser, absent manifest error. The principal amount of the Series <br /> 2008 Bonds so purchased shall be submitted by the Purchaser to the Trustee,and such amount shall <br /> be deposited by the Trustee into the Construction Fund. Any portion of the Series 2008 Bonds not <br /> sold to the Purchaser and any portion of the corresponding proceeds not delivered to the Company <br /> by the Completion Date shall not be issued or delivered thereafter. Notwithstanding anything herein <br /> to the contrary, until the Completion Date, upon the request of the Purchaser, the Trustee may <br /> maintain custody of the Bond as agent of the Purchaser. <br /> 7 <br />
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