Resolutions-2015-089

(Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF JOHNSON CITY OF TIFFIN GENERAL OBLIGATION ANNUAL APPROPRIATION CORPORATE PURPOSE BOND, SERIES 2015A No. ______ RATE MATURITY DATE BOND DATE CUSIP _____% June 1, ____ July 15, 2015 886561 ____ The City of Tiffin (the “City”), in the County of Johnson, State of Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. New York, NY or registered assigns, the principal sum of THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of Bankers Trust Company, Des Moines, Iowa (hereinafter referred to as the “Registrar” or the “Paying Agent”), with interest on said sum, until paid, at the rate per annum specified above from the date of this Bond, or from the most recent interest payment date on which interest has been paid, on June 1 and December 1 of each year, commencing December 1, 2015, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Interest on this Bond is payable to the registered owner appearing on the registration books of the City at the close of business on the fifteenth day of the month next preceding the interest payment date, and shall be paid to the registered owner at the address shown on such registration books. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Registrar. This Bond is one of a series of General Obligation Annual Appropriation Corporate Purpose Bonds, Series 2015A (the “Bonds”) issued by the City, pursuant to a resolution adopted on July 8, 2015 (the “Resolution”) to evidence its obligation under a certain loan agreement, dated as of July 15, 2015 (the “Loan Agreement”), entered into by the City for the purpose of paying the costs, to that extent, of (1) constructing street, water system, sanitary sewer system, sidewalk and storm water drainage improvements; (2) installing street lighting and signage; (3) improving and equipping existing municipal parks; (4) developing and equipping new municipal parks; (5) constructing municipal recreation trail improvements; (6) funding an economic development grant in connection