Resolutions-2020-063

(Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA JOHNSON COUNTY CITY OF TIFFIN GENERAL OBLIGATION URBAN RENEWAL AND REFUNDING BOND, SERIES 2020A No. ________ $__________ RATE MATURITY DATE BOND DATE CUSIP 2.00% June 1, 20___ August 25, 2020 886561 _______ 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 THOUSAND DOLLARS in lawful money of the United States of America upon presentation and surrender of this Bond at the office of UMB Bank, n.a., West 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 June 1, 2021, 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 Urban Renewal and Refunding Bonds, Series 2020A (the “Bonds”) issued by the City to evidence its obligation under a certain loan agreement, dated as of August 25, 2020 (the “Loan Agreement”), entered into by the City for the purpose of paying the cost, to that extent, of (1) constructing street, water system, storm water drainage, sanitary sewer system and sidewalk improvements; (2) making improvements to an existing municipal park; (3) acquiring and installing street lighting, signage and signalization