ORDINANCES & RESOLUTIONS 1981 - Laserfiche WebLink

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EXHIBIT "B" (Form of B Fully Registered Series 1981 Bond) No. B- $ UNITED STATES OF AMERICA STATE OF INDIANA TOWN OF MOORESVILLE ECONOMIC DEVELOPMENT FIRST MORTGAGE REVENUE BOND, SERIES 1981 (NICE-PAK PRODUCTS, INC.) The Town of Mooresville, a municipal corporation organized and existing under the laws of the State of Indiana ("Issuer"), for value received, promises to pay from the source and as hereinafter provided to or registered assigns, upon presentation hereof, on the dates hereinafter set forth, the principal sum of Dollars and in like manner to pay interest on said sum from the date hereof through June 30, 1988 at the rate of ten percent (10%) per annum and from July 1, 1988 until maturity at the rate per annum equal to seventy percent (70%) of the prime rate of interest quoted and announced by The Indiana National Bank from time to time ("prime rate") prior to maturity and one hundred ten percent (110%) of said prime rate after maturity or an event of default. Interest shall be computed on the basis of a three hundred sixty (360) day year and shall change from time to time effective with the change in the prime rate. Interest shall be due and payable on September 30, 1981 and quarterly thereafter on December 31, March 31, June 30 and September 30 of each year until said principal sum is paid, (except in the event interest on this Series 1981 Bond becomes taxable as provided in Section 2.06 of the Indenture, in which case the interest shall be payable at a rate of interest equal to 110% of the prime rate ["Taxable Rate"] from the date of the Determination of Taxability). Principal of this Series 1981 Bond is payable as set forth below: Payment Dates Payment Amounts 6/30/82 $35,000