Resolutions-2022-012

(Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA JOHNSON COUNTY CITY OF TIFFIN SEWER REVENUE BOND, SERIES 2022 No. R-1 RATE MATURITY DATE BOND DATE 0% June 1, 2038 March 4, 2022 $486,000 The City of Tiffin (the “City”), in Johnson County, State of Iowa, for value received, promises to pay from the source and as hereinafter provided, on the maturity date of this Bond, to IOWA FINANCE AUTHORITY or registered assigns, the principal sum of FOUR HUNDRED EIGHTY-SIX THOUSAND DOLLARS Principal shall be due and payable in installments in the amounts shown on the Principal Payment Schedule, attached hereto as Exhibit A, on June 1, 2022, and annually thereafter on June 1 in each year until the principal is fully paid, except that the final installments of the entire balance of principal, if not sooner paid, shall become due and payable on June 1, 2038. This Bond shall not bear interest. The City Clerk shall act as Registrar and Paying Agent and may be hereinafter referred to as the “Registrar” or the “Paying Agent.” Payment of the principal of this Bond and premium, if any, shall be payable at the office of the Paying Agent to the registered owners thereof appearing on the registration books of the City at the addresses shown on such registration books. All such payments, except full redemption, shall be made to the registered owners appearing on the registration books at the close of business on the fifteenth day of the month next preceding the payment date. Final payment of principal shall only be made upon surrender of this Bond to the Paying Agent. This Bond is one of a series of bonds (the “Bonds”) issued by the City to evidence its obligation under a certain Loan and Disbursement Agreement, dated the date hereof (the “Agreement”) entered into by the City for the purpose of providing funds to pay a portion of the cost of constructing certain water resource restoration projects (the “Projects”). The Bonds are issued pursuant to and in strict compliance with the provisions of Sections 384.24A and 384.83 of the Code of Iowa, 2021, and all other laws amendatory thereof