Minutes-9/8/1999

LOAN AND DISBURSEMENT AGREEMENT (Sewer Revenue) This Loan and Disbursement Agreement (the "Agreement") is made and entered into as of September 8, 1999, by and between the City of Tiffin, Iowa (the "City") acting through the City Council (the "Council") for the Municipal Sewer System of the City, the Iowa Finance Authority, an agency and public instrumentality of the State of Iowa (the "Lender"), the Iowa Department of Natural Resources (the "Department") and Norwest Bank Iowa, National Association, as trustee (the "Trustee") under the Indenture of Trust dated as of June 1, 1989, as amended and supplemented by a First Supplemental Indenture of Trust dated as of June 1, 1990 and a Second Supplemental Indenture of Trust dated as of August 1, 1991 (together, the "Indenture") between the Trustee and the Lender. WHEREAS, the Lender, in cooperation with the Department, is authorized to undertake the creation, administration and financing of the Iowa Sewage Treatment Works Financing Program (the "Program") established in Iowa Code Sections 455B.291 through 455B.299, including, among other things, the making of loans to Iowa municipalities for purposes of the Program; and WHEREAS, the City desires to participate in the Program as a means of financing all or part of the construction of certain wastewater treatment facilities serving the City and its residents. NOW, THEREFORE, the parties agree as follows: Section 1. Definitions. In addition to other definitions set forth herein, the following terms as used in this Agreement shall, unless the context requires otherwise, have the following meanings: (a) "Bonds" shall mean any series Iowa State Revolving Fund Revenue Bonds of providing moneys to finance the Loan to tI purposes (b) "Code" shall mean the Internal Revenue lawfully promulgated regulations thereunder. and all