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HomeMy WebLinkAbout2002-08-02 ® AN ORDINANCE AUTHORIZING WATER AND SEWER REVENUE REFUNDING BONDS FOR THE PURPOSE OF SAVING INTEREST COSTS; PROVIDING FOR THE PAYMENT AND SECURITY OF THE BONDS; AMENDING AND CONFIRMING, AS AMENDED, ORDINANCE NO. 2002-6-02, ADOPTED JUNE 25, 2002; DECLARING AN EMERGENCY; AND FOR RELATED PURPOSES. WHEREAS, the City of Batesville, Arkansas (the "City") has issued its Water and Sewer Revenue Bonds, Series 2002, in the principal amount of $1, 600, 000 (the "Improvement Bonds") for the purpose of financing certain improvements to the City's water and sewer system (the "System") ; and WHEREAS, the Improvement Bonds are not general obligations but are special obligations of the City, secured by a pledge of revenues of the System, and are issued pursuant to Arkansas Code of 1987 Annotated, Title 14, Chapter 164, Subchapter 4 (the "Authorizing Legislation") and Ordinance No. 2002-6-02 of the City, adopted June 25, 2002 (the "Outstanding Ordinance") ; and WHEREAS, the Improvement Bonds may be refunded by bonds bearing lower rates of interest, resulting in interest cost savings to the City and, accordingly, the City proposes to issue its Water and Sewer Revenue Refunding Bonds, Series 2002, in the principal • amount of $1, 600, 000 (the "Refunding Bonds") ; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. (a) Under the authority of the Constitution and laws of the State of Arkansas, including the Authorizing Legislation, and applicable decisions of the Supreme Court of Arkansas including City of Harrison v. Braswell, 209 Ark. 1094, 194 S.W.2d 12 (1946) , the Refunding Bonds, on the terms set forth herein and in the Bond Purchase Agreement, are hereby authorized and ordered sold to The Citizens Bank, Batesville, Arkansas, at a price of the principal amount thereof, plus accrued interest, if any, from the date thereof. (b) The Bond Purchase Agreement is hereby approved in substantially the form presented at the meeting at which this Ordinance is considered, and the Mayor is authorized to execute the Bond Purchase Agreement on behalf of the City, with such changes as he may approve, consistent with the terms of this Ordinance. (c) Principal and interest on the Refunding Bonds shall be payable, in monthly installments, and the unpaid balance on the Refunding Bonds shall bear interest as set forth in Exhibit A hereto. Section 2. (a) The Refunding Bonds shall be secured by • a pledge of revenues of the System, as the Improvement Bonds are • secured. The pledge of revenues is on a parity of lien, pledge and security with that securing the 2001 Bonds (defined in the Outstanding Ordinance) . The Refunding Bonds shall be payable from moneys in the Water Revenue Bond Fund, and moneys required to be deposited therein, as set forth in the Outstanding Ordinance. (b) Other than provisions patently inconsistent with the purpose of this Ordinance, the provisions of the Outstanding Ordinance are incorporated herein, as though set forth word for word; and the incorporation includes the provisions of the Basic Ordinance (that is, Ordinance No. 2001-3-1, adopted March 13, 2001) , as set forth in the Outstanding Ordinance. The provisions of the Outstanding Ordinance, including, without limitation, those set forth in Sections 5, 6 and 7, shall survive and continue for the protection and security of the Refunding Bonds, notwithstanding the discharge of the Improvement Bonds . It is the intent of the City that the Refunding Bonds shall replace the Improvement Bonds in all respects, other than the interest rates and financing terms set forth herein. Capitalized terms not otherwise defined herein have the meanings assigned in the Outstanding Ordinance. The Citizens Bank, Batesville, Arkansas, is hereby confirmed as Trustee and Paying Agent for the Refunding Bonds . Section 3. The Refunding Bonds shall be executed by the . Mayor and City Clerk, sealed with the seal of the City and delivered to the Trustee in exchange for the Improvement Bonds, which shall be canceled and destroyed. The Mayor is authorized to approve the disbursement or receipt of any amount necessary to assure that any obligation of the City for accrued but unpaid interest is not affected by the exchange of the Refunding Bonds for the Bonds . Section 4 . The Refunding Bonds shall be subject to redemption prior to maturity as set. forth in the Form of Bond, in Section 5. Section 5. The Refunding Bonds shall be in substantially the following form: • 2 0 0 • (Form of Bond) REGISTERED REGISTERED No. $ UNITED STATES OF AMERICA STATE OF ARKANSAS CITY OF BATESVILLE, ARKANSAS WATER AND SEWER REVENUE REFUNDING BOND SERIES 2002 Dated Date: 1, 2002 Registered Owner: Principal Amount: KNOW ALL MEN BY THESE PRESENTS: That the City of Batesville, Arkansas (the "City") , for value received, hereby promises to pay, but solely from the source as hereinafter provided and not otherwise, to the Registered Owner shown above, the Principal Amount shown above, 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 public and private debts, and to pay by check or draft interest thereon, but solely from the source as hereinafter provided and not otherwise, in like coin or currency. Principal and interest evidenced hereby are payable in • monthly installments, as set forth in Exhibit A hereto, until payment of such principal sum or, if this Series 2002 Refunding Bond or a portion thereof shall be duly called for redemption, until the date fixed for redemption, and to pay interest on overdue principal and interest (to the extent legally enforceable) at the rate borne by this Series 2002 Refunding Bond. The unpaid balance of the principal evidenced hereby shall bear interest as set forth in Exhibit A hereto. Payment of each installment shall be made to the person in whose name this Series 2002 Refunding Bond is registered on the registration books of the City maintained by the Trustee at the close of business on the 20th day of the month (whether or not a business day) next preceding each payment date (the "Record Date") , irrespective of any transfer or exchange of this Series 2002 Refunding Bond subsequent to such Record Date and prior to such payment date. Payment of the final installment due hereon shall be only upon surrender of this Series 2002 Refunding Bond at the corporate trust office of The Citizens Bank, in Batesville, Arkansas, or its successor or successors, as Trustee and Paying Agent (the "Trustee") . Interest hereon shall be payable from the payment date next preceding the date on which this Series 2002 Refunding Bond is authenticated unless this Series 2002 Refunding Bond is authenticated on a payment date, in which case it shall bear interest from such date, or unless this Series 2002 Refunding Bond is authenticated prior to the first payment date, in which • 3 • case it shall bear interest from the Dated Date, or unless this Series 2002 Refunding Bond is authenticated during the period from the Record Date to the then next payment date, in which case it shall bear interest from such payment date, or unless at the time of authentication of this Series 2002 Refunding Bond interest is in default hereon, in which case it shall bear interest from the date to which interest has been paid. This Series 2002 Refunding Bond is one of an issue of City of Batesville, Arkansas Water and Sewer Revenue Bonds, Series 2002, aggregating One Million Six Hundred Thousand Dollars ($1, 600, 000) , in principal amount (the "Series 2002 Refunding Bonds") , and is issued for the purpose of refinancing certain Improvements to the City' s municipal Water and Sewer System (the "System") . The Series 2002 Refunding Bonds are issued to refund the City's Water and Sewer Revenue Bonds, Series 2002 (the "Series 2002 Improvement Bonds") . THE SERIES 2002 REFUNDING BONDS ARE ISSUED PURSUANT TO AND IN FULL COMPLIANCE WITH THE CONSTITUTION AND LAWS OF THE STATE OF ARKANSAS, INCLUDING PARTICULARLY TITLE 14, CHAPTER 164, SUBCHAPTER 4, AND DECISIONS OF THE SUPREME COURT OF ARKANSAS, INCLUDING CITY OF HARRISON V. BRASWELL, 209 ARK. 1094, 194 S.W.2d 12 (1946) , AND PURSUANT TO ORDINANCE NO. 2001-3-1, DULY ADOPTED ON MARCH 13, 2001, ORDINANCE NO. 2002-6-02, DULY ADOPTED ON JUNE 25, 2002 AND ORDINANCE N0. , DULY ADOPTED ON , 2002 • (COLLECTIVELY, THE "AUTHORIZING ORDINANCE") , AND DO NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN ANY CONSTITUTIONAL OR STATUTORY LIMITATION. The Series 2002 Refunding Bonds are secured on a parity of lien, pledge and security with the City' s Water and Sewer Revenue Refunding Bonds, Series 2001 (the "2001 Bonds") and with any Additional Bonds, if any, issued under the Authorizing Ordinance, and the term "Bonds" herein includes the Series 2002 Refunding Bonds, the 2001 Bonds and any Additional Bonds outstanding. The Bonds are not general obligations of the City but are special obligations secured by a pledge of revenues derived from the operation of the System. An amount of revenues of the System sufficient to pay the principal of and interest on the Bonds has been duly pledged for the payment of principal of, premium, if any, on and interest on the Bonds . Reference is hereby made to the Authorizing Ordinance for a detailed statement of the terms and conditions upon which the Bonds are issued, of the nature and extent of the security for the Bonds, and the rights and obligations of the City, the Trustee and the bondholders. The Series 2002 Refunding Bonds or portions thereof may be redeemed at the option of the City, in whole or in part, from funds from any source, in inverse order of maturity (and by lot within a maturity in such manner as the Trustee shall determine) on any date on and after six months after the date of issuance of the Series 2002 Refunding Bonds, at a redemption price equal to the principal amount being redeemed plus accrued interest to the • 4 ® redemption date, if any, plus a prepayment fee (the "Prepayment Fee") equal to an amount sufficient to reimburse the holder of the Series 2002 Refunding Bonds for all prepayment penalties incurred as a result of required prepayment to the Federal Home Loan Bank of Dallas, all as determined by the Trustee, which determination shall be conclusive. The Series 2002 Refunding Bonds shall be redeemed, on any date, at a redemption price equal to the principal amount being redeemed plus accrued interest to the redemption date plus the Prepayment Fee, in inverse order of maturity (and by lot within a maturity) to the extent that proceeds of the Series 2002 Improvement Bonds exceed the cost of the Improvements; provided that the Prepayment Fee shall not exceed an amount which would cause interest on the Series 2002 Refunding Bonds to exceed 6-1/4% per annum. Notice of redemption identifying the Series 2002 Refunding Bonds or portions thereof to be redeemed shall be given by the Trustee, not less than thirty (30) nor more than sixty (60) days prior to the date fixed for redemption, by mailing a copy of the redemption notice by first class mail, postage prepaid, or sending such notice by electronic transmission with evidence of receipt, to all registered owners of Series 2002 Refunding Bonds to be redeemed. Failure to send an appropriate notice or any such notice to one or more registered owners of Series 2002 Refunding • Bonds to be redeemed shall not affect the validity of the proceedings for redemption of other Series 2002 Refunding Bonds as to which notice of redemption is duly given in proper and timely fashion. All such Series 2002 Refunding Bonds or portions thereof thus called for redemption will cease to bear interest on such redemption date. With respect to notice of redemption of Series 2002 Refunding Bonds at the option of the City, unless moneys sufficient to pay the principal of, premium, if any, and interest on the Series 2002 Refunding Bonds to be redeemed shall have been received by the Trustee prior to the giving of such notice, the notice shall state that redemption shall be conditional upon the receipt of such moneys by the Trustee on or prior to the date fixed for such redemption. If such moneys shall not have been so received, such notice shall be of no force and effect, the City shall not redeem such Series 2002 Refunding Bonds and the Trustee shall give notice, in the manner in which the notice of redemption was given, that such moneys were not so received. This Series 2002 Refunding Bond is transferable by the registered owner hereof in person or by his attorney-in-fact duly authorized in writing at the corporate trust office of the Trustee in Batesville, Arkansas, but only in the manner, subject to the limitations and upon payment of the charges provided in the Authorizing Ordinance, and upon surrender and cancellation of this • 5 • 0 Series 2002 Refunding Bond. Upon such transfer a new fully registered Series 2002 Refunding Bond or Bonds of the same series and maturity, of authorized denomination or denominations, for the same aggregate principal amount, will be issued to the transferee in exchange therefor. This Series 2002 Refunding Bond is issued with the intent that the laws of the State of Arkansas shall govern its construction. The City and the Trustee may deem and treat the registered owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal hereof and premium, if any, hereon and interest due hereon and for all other purposes, and neither the City nor the Trustee nor any paying agent shall be affected by any notice to the contrary. The Series 2002 Refunding Bonds are issuable only as fully registered bonds in the denomination of $5, 000, and any integral multiple thereof. Subject to the limitations and upon payment of the charges provided in the Authorizing Ordinance, Series 2002 Refunding Bonds may be exchanged for a like aggregate principal amount of Series 2002 Refunding Bonds of the same maturity of other authorized denominations . IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of the Series 2002 Refunding Bonds do exist, have happened and have been performed in due time, form and manner as required by law; that the indebtedness represented by the Series 2002 Refunding Bonds, together with all obligations of the City, does not exceed any constitutional or statutory limitation; and that the above referred to revenues pledged to the payment of the principal of and premium, if any, and interest on the Series 2002 Refunding Bonds as the same become due and payable will be sufficient in amount for that purpose. This Series 2002 Refunding Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Authorizing Ordinance until the Certificate of Authentication hereon shall have been signed by the Trustee. THE CITY HAS DESIGNATED THE SERIES 2002 IMPROVEMENT BONDS AS "QUALIFIED TAX-EXEMPT OBLIGATIONS" WITHIN THE MEANING OF SECTION 265 (b) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND THE SERIES 2002 REFUNDING BONDS ARE, BY LAW, QUALIFIED TAX-EXEMPT OBLIGATIONS. 6 IN WITNESS WHEREOF, the City of Batesville, Arkansas has caused this Series 2002 Refunding Bond to be executed by its Mayor and City Clerk, their manual or facsimile signatures thereunto duly authorized and its corporate seal to be impressed, lithographed or imprinted on this Series 2002 Refunding Bond. CITY OF BATESVILLE, ARKANSAS ATTESTBy : Mayor City Clerk (SEAL) (Form of Trustee' s Certificate) TRUSTEE'S CERTIFICATE OF AUTHENTICATION This Series 2002 Refunding Bond is one of the Bonds designated Water and Sewer Revenue Bonds, Series 2002, in and issued under the provisions of the within mentioned Authorizing Ordinance. THE CITIZENS BANK Batesville, Arkansas TRUSTEE �j By Al� /D � G� Authorized Signature DATE OF AUTHENTICATION: 7 0 0 (Form of Assignment) ASSIGNMENT FOR VALUE RECEIVED, ("Transferor") , hereby sells, assigns and transfers unto , the within bond and all rights thereunder, and hereby irrevocably constitutes and appoints as attorney to transfer the within bond on the books kept for registration thereof with full power of substitution in the premises. DATE: Transferor GUARANTEED BY: NOTICE: Signature (s) must be guaranteed by a financial institution acceptable to the Trustee. E Section 6. This Ordinance amends the Outstanding Ordinance, to the extent of any inconsistency with this Ordinance, and, as amended, re-enacts the Outstanding Ordinance for the protection and security of the Refunding Bonds . Section 7 . (a) Without limiting the generality of Section 2 or Section 6 hereof, the City confirms that the provisions of Section 7 of the Outstanding Ordinance shall apply to and protect the Refunding Bonds and the exemption of interest on the Refunding Bonds from regular federal income tax. (b) The City covenants and represents that: (i) the principal amount of the Refunding Bonds does not exceed the outstanding principal amount of the Improvement Bonds; and (ii) the weighted average maturity of the Refunding Bonds does not exceed the remaining weighted average maturity of the Improvement Bonds; and (iii) the maturity date of the Refunding Bonds does not exceed thirty years from the date of issuance of the Improvement Bonds. (c) The City covenants that it will submit to the Secretary of the Treasury of the United States, not later than the 8 • 15th day of the second calendar month after the close of the calendar quarter in which the Series 2002 Refunding Bonds are issued, the statement required by Section 149 (e) of the Code. Section 8. The provisions of this Ordinance are hereby declared to be severable and if any provision shall for any reason be held illegal or invalid, such holding shall not affect the validity of the remainder of the Ordinance. Section 9. This Ordinance shall not create any right of any kind and no right of any kind shall arise hereunder pursuant to it until the Series 2002 Refunding Bonds shall be issued and delivered. Section 10. All ordinances and resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 11 . It is hereby ascertained and declared that the terms for the Series 2002 Refunding Bonds (reflecting interest savings) are in the interest of the City and are conditioned upon issuance of the Series 2002 Refunding Bonds as scheduled. It is, therefore, declared that an emergency exists and this Ordinance being necessary for the immediate preservation of the public peace, health and safety shall take effect and be in force from and after its passage. • PASSED: 2002 . APPROVED: ATTEST: 1/Y\.V14) n�) (,, �26� Mayo r City Clerk (SEAL) • 9 ® CERTIFICATE The undersigned, City Clerk of the City of Batesville, Arkansas, hereby certifies that the foregoing pages are a true and correct copy of Ordinance Nol"V!-A , adopted at a "" session of the Council of the City of Batesville, Arkansas, held at the regular meeting pla4RoQr±d—Book the Council in the City at �- p.m. , 2� on the )b- day of , 2002, and that said Ordinance is of record in Ordinance No. Page $e'1 now in my possession. n 2002 . GIVEN under my hand and seal this Alts day of City Clerk (SEAL) • ® 10 EXHIBIT A Payment Date Interest Rate Payment Amount 9/01/2002 3.200% 13,957.29 10/01/2002 3.200% 9,690.62 11/01/2002 3.200% 9,690.62 12/01/2002 3.200% 9,690.63 1/01/2003 3.200% 9,690.63 2/01/2003 3.200% 9,690.62 3/01/2003 3.200% 9,690.62 4/01/2003 3.200% 9,690.63 5/01/2003 3.200% 9,690.62 6/01/2003 3.200% 9,690.62 7/01/2003 3.200% 9,690.62 8/01/2003 3.200% 9,690.63 9/01/2003 3.200% 9,690.62 10/01/2003 3.200% 9,690.63 11/01/2003 3.200% 9,690.62 12/01/2003 3.200% 9,690.62 1/01/2004 3.200% 9,690.63 2/01/2004 3.200% 9,690.62 3/01/2004 3.200% 9,690.62 • 4/01/2004 3.200% 9,690.63 5/01/2004 3.200% 9,690.62 6/01/2004 3.200% 9,690.63 7/01/2004 3.200% 9,690.62 8/01/2004 3.200% 9,690.62 9/01/2004 3.200% 9,690.63 10/01/2004 3.200% 9,690.63 11/01/2004 3.200% 9,690.63 12/01/2004 3.200% 9,690.63 1/01/2005 3.200% 9,690.63 2/01/2005 3.200% 9,690.62 3/01/2005 3.200% 9,690.63 4/01/2005 3.200% 9,690.62 5/01/2005 3.200% 9,690.62 6/01/2005 3.200% 9,690.62 7/01/2005 3.200% 9,690.63 8/01/2005 3.200% 9,690.62 9/01/2005 3.200% 9,690.63 10/01/2005 3.200% 9,690.63 11/01/2005 3.200% 9,690.63 12/01/2005 3.200% 9,690.62 is A-1 © 1/01/2006 3.200% 0 9,690.62 2/01/2006 3.200% 9,690.62 3/01/2006 3.200% 9,690.62 4/01/2006 3.200% 9,690.63 5/01/2006 3.200% 9,690.63 6/01/2006 3.200% 9,690.63 7/01/2006 3.200% 9,690.62 8/01/2006 3.200% 9,690.62 9/01/2006 3.200% 9,690.63 10/01/2006 3.200% 9,690.62 11/01/2006 3.200% 9,690.62 12/01/2006 3.200% 9,690.63 1/01/2007 3.200% 9,690.62 2/01/2007 3.200% 9,690.63 3/01/2007 3.200% 9,690.62 4/01/2007 3.200% 9,690.62 5/01/2007 3.200% 9,690.63 6/01/2007 3.200% 9,690.63 7/01/2007 3.200% 9,690.62 8/01/2007 3.200% 9,690.62 9/01/2007 3.700% 9,690.63 • 10/01/2007 3.700% 9,690.63 11/01/2007 3.700% 9,690.62 12/01/2007 3.700% 9,690.62 1/01/2008 3.700% 9,690.63 2/01/2008 3.700% 9,690.62 3/01/2008 3.700% 9,690.63 4/01/2008 3.700% 9,690.62 5/01/2008 3.700% 9,690.62 6/01/2008 3.700% 9,690.62 7/01/2008 3.700% 9,690.63 8/01/2008 3.700% 9,690.63 9/01/2008 3.700% 9,690.63 10/01/2008 3.700% 9,690.62 11/01/2008 3.700% 9,690.63 12/01/2008 3.700% 9,690.62 1/01/2009 3.700% 9,690.62 2/01/2009 3.700% 9,690.62 3/01/2009 3.700% 9,690.63 4/01/2009 3.700% 9,690.62 5/01/2009 3.700% 9,690.63 6/01/2009 3.700% 9,690.63 7/01/2009 3.700% 9,690.62 • A2 • 8/01/2009 3.700% 0 9,690.62 9/01/2009 3.700% 9,690.62 10/01/2009 3.700% 9,690.62 11/01/2009 3.700% 9,690.62 12/01/2009 3.700% 9,690.62 1/01/2010 3.700% 9,690.62 2/01/2010 3.700% 9,690.62 3/01/2010 3.700% 9,690.63 4/01/2010 3.700% 9,690.63 5/01/2010 3.700% 9,690.62 6/01/2010 3.700% 9,690.63 7/01/2010 3.700% 9,690.62 8/01/2010 3.700% 9,690.63 9/01/2010 3.700% 9,690.63 10/01/2010 3.700% 9,690.63 11/01/2010 3.700% 9,690.62 12/01/2010 3.700% 9,690.62 1/01/2011 3.700% 9,690.62 2/01/2011 3.700% 9,690.62 3/01/2011 3.700% 9,690.62 4/01/2011 3.700% 9,690.62 • 5/01/2011 3.700% 9,690.62 6/01/2011 3.700% 9,690.62 7/01/2011 3.700% 9,690.63 8/01/2011 3.700% 9,690.63 9/01/2011 3.700% 9,690.62 10/01/2011 3.700% 9,690.62 11/01/2011 3.700% 9,690.62 12/01/2011 3.700% 9,690.62 1/01/2012 3.700% 9,690.62 2/01/2012 3.700% 9,690.63 3/01/2012 3.700% 9,690.62 4/01/2012 3.700% 9,690.63 5/01/2012 3.700% 9,690.62 6/01/2012 3.700% 9,690.62 7/01/2012 3.700% 9,690.62 8/01/2012 3.700% 9,690.63 9/01/2012 6.250% 9,690.63 10/01/2012 6.250% 9,690.63 11/01/2012 6.250% 9,690.63 12/01/2012 6.250% 9,690.62 1/01/2013 6.250% 9,690.62 2/01/2013 6.250% 9,690.62 • A-3 3/01/2013 6.250% 9,690.62 4/01/2013 6.250% 9,690.62 5/01/2013 6.250% 9,690.62 6/01/2013 6.250% 9,690.62 7/01/2013 6.250% 9,690.62 8/01/2013 6.250% 9,690.63 9/01/2013 6.250% 9,690.63 10/01/2013 6.250% 9,690.63 11/01/2013 6.250% 9,690.63 12/01/2013 6.250% 9,690.63 1/01/2014 6.250% 9,690.62 2/01/2014 6.250% 9,690.63 3/01/2014 6.250% 9,690.62 4/01/2014 6.250% 9,690.63 5/01/2014 6.250% 9,690.62 6/01/2014 6.250% 9,690.62 7/01/2014 6.250% 9,690.62 8/01/2014 6.250% 9,690.63 9/01/2014 6.250% 9,690.62 10/01/2014 6.250% 9,690.63 11/01/2014 6.250% 9,690.63 12/01/2014 6.250% 9,690.62 1/01/2015 6.250% 9,690.62 2/01/2015 6.250% 9,690.62 3/01/2015 6.250% 9,690.63 4/01/2015 6.250% 9,690.62 5/01/2015 6.250% 9,690.62 6/01/2015 6.250% 9,690.62 7/01/2015 6.250% 9,690.62 8/01/2015 6.250% 9,690.62 9/01/2015 6.250% 9,690.63 10/01/2015 6.250% 9,690.62 11/01/2015 6.250% 9,690.62 12/01/2015 6.250% 9,690.63 1/01/2016 6.250% 9,690.62 2/01/2016 6.250% 9,690.62 3/01/2016 6.250% 9,690.63 4/01/2016 6.250% 9,690.62 5/01/2016 6.250% 9,690.63 6/01/2016 6.250% 9,690.62 7/01/2016 6.250% 9,690.62 8/01/2016 6.250% 9,690.62 9/01/2016 6.250% 9,690.63 L A-4 • © 10/01/2016 6.250% 0 9,690.62 11/01/2016 6.250% 9,690.62 12/01/2016 6.250% 9,690.63 1/01/2017 6.250% 9,690.63 2/01/2017 6.250% 9,690.63 3/01/2017 6.250% 9,690.62 4/01/2017 6.250% 9,690.63 5/01/2017 6.250% 9,690.62 6/01/2017 6.250% 9,690.62 7/01/2017 6.250% 9,690.63 8/01/2017 6.250% 9,690.62 9/01/2017 6.250% 0 9,690.62 10/01/2017 6.250% 9,690.62 11/01/2017 6.250% 9,690.63 12/01/2017 6.250% 9,690.62 1/01/2018 6.250% 9,690.63 2/01/2018 6.250% 9,690.62 3/01/2018 6.250% 9,690.63 4/01/2018 6.250% 9,690.62 5/01/2018 6.250% 9,690.63 6/01/2018 6.250% 9,690.62 • 7/01/2018 6.250% 9,690.63 8/01/2018 6.250% 9,690.62 9/01/2018 6.250% 9,690.62 10/01/2018 6.250% 9,690.63 11/01/2018 6.250% 9,690.63 12/01/2018 6.250% 9,690.63 1/01/2019 6.250% 9,690.62 2/01/2019 6.250% 9,690.63 3/01/2019 6.250% 9,690.63 4/01/2019 6.250% 9,690.63 5/01/2019 6.250% 9,690.63 6/01/2019 6.250% 9,690.63 7/01/2019 6.250% 9,690.62 8/01/2019 6.250% 9,690.62 9/01/2019 6.250% 9,690.62 10/01/2019 6.250% 9,690.62 11/01/2019 6.250% 9,690.62 12/01/2019 6.250% 9,690.62 1/01/2020 6.250% 9 • A-5