Resolutions-2018-023

(Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA JOHNSON COUNTY CITY OF TIFFIN GENERAL OBLIGATION ANNUAL APPROPRIATION FIRE TRUCK ACQUISITION BOND, SERIES 2018A No. 1 $1,100,000 RATE MATURITY DATE BOND DATE CUSIP 4.00% June 1, 2038 April 4, 2018 886561 BU2 The City of Tiffin (the “City”), in Johnson County, State of Iowa, for value received, promises to pay on the maturity date of this Bond to Cede & Co. New York, New York or registered assigns, the principal sum of ONE MILLION ONE HUNDRED 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, 2018, 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 Fire Truck Acquisition Bonds, Series 2018A (the “Bonds”) issued by the City to evidence its obligation under a certain loan agreement, dated as of April 4, 2018 (the “Loan Agreement”), entered into by the City for the purpose of paying the costs, to that extent, of acquiring a fire truck for use by the Tiffin Fire Association.