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HomeMy WebLinkAboutbond Exh A UNITED STATES OF AMERICA Registered Registered No. One $___________ STATE OF IDAHO COUNTY OF MADISON CITY OF REXBURG WASTEWATER REVENUE REFUNDING BOND, SERIES 2020 THE CITY OF REXBURG, Madison County, Idaho (the “City”), for value received, promises to pay from the special fund hereinafter described and in the manner hereinafter set forth, and not otherwise, to ___________________. (the “Bank”), as the registered owner hereof, the principal sum of ($________________), together with interest on the unpaid balance. Said principal and interest shall be payable in accordance with the following schedule: Both principal of and interest on this Bond are payable in lawful money of the United States of America to the registered owner hereof whose name and address shall appear on the registration books of the City maintained by the City Treasurer (the “Bond Registrar”). The City has reserved the right, at its option, to prepay the principal amount outstanding, as provided in the Bond Purchase Agreement dated as of June 22, 2020, between the City and the Bank (the “Bond Purchase Agreement”). This Bond is issued for the purpose of paying the costs of currently refunding the City’s outstanding Refunded Note, pursuant to Idaho Code, Title 50, Chapter 10 and Title 57, Chapters 2, 5, and 9, and also pursuant to Ordinance No. 1229 of the City, adopted on May 6, 2020 (the “Bond Ordinance”). This Bond further evidences the City’s payment obligations under the Bond Purchase Agreement. This Bond is issued pursuant to and in full compliance with the Constitution and statutes of the State of Idaho, particularly Chapter 10 of Title 50, and Chapters 2, 5, and 9 of Title 57, Idaho Code, and proceedings duly adopted and authorized by the Mayor and Council of the City acting for and on behalf of the City, more particularly the Bond Ordinance, for the purpose of providing funds to refund and redeem certain outstanding obligations of the City. This Bond creates a first lien and charge upon the Net Revenues of the System on parity of lien with any additional bonds or other obligations which may hereafter be issued on a parity with the Bond in accordance with the provisions of the Bond Ordinance and the Bond Purchase Agreement, and superior to all other charges of any kind or nature. This Bond is a limited obligation of the City and is payable as to principal and interest solely from a special fund created by the Bond Ordinance and designated “City of Rexburg Wastewater Revenue Refunding Bond Fund” (the “Bond Fund”). For a more particular description of said Bond Fund, the revenues to be deposited therein, and the nature and extent of the security afforded thereby, reference is made to the provisions of the Bond Ordinance pursuant to which this Bond is issued, and such Bond Fund will be maintained. This Bond is transferable by the registered owner hereof in person, or by his attorney duly authorized in writing, upon presentation and surrender of this Bond at the office of the Bond Registrar.  Upon such transfer, a new Bond, of the same denomination, maturity, and interest rate, will be issued to the transferee, in exchange therefor.  Reference is hereby made to the Bond Ordinance and the Bond Purchase Agreement for the covenants and declarations of the City and other terms and conditions under which this Bond has been issued.  The covenants contained herein and in the Bond Ordinance may be discharged by making provision, at any time, for the payment of the principal of and interest on this Bond in the manner provided in the Bond Ordinance. The City and the Bond Registrar may deem and treat the registered owner hereof as the absolute owner hereof for the purpose of receiving payments of principal hereof and interest due hereon and for all other purposes, and neither the City nor the Bond Registrar shall be affected by any notice to the contrary.  IT IS HEREBY CERTIFIED AND DECLARED that all acts, conditions, and things required by the Constitution and statutes of the State of Idaho to exist, to have happened, been done, and performed precedent to and in the issuance of this Bond have happened, been done, and performed, and that the issuance of this Bond do not violate any Constitutional, statutory, or other limitation upon the amount of bonded indebtedness that the City may incur.  IN WITNESS WHEREOF, the City of Rexburg, Madison County, Idaho, has caused this Bond to be executed by the manual signature of the Mayor, countersigned by the manual signature of its Treasurer, and attested by the manual signature of its Clerk, and the seal of the City to be impressed hereon, as of this 22nd day of June, 2020. CITY OF REXBURG Madison County, Idaho ___________________________________ Mayor ___________________________________ City Treasurer ATTEST: ______________________________ City Clerk ( S E A L )