Resolutions-2024-031

Tiffin / 436989- 43 / GO CP Iss Bonds Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA JOHNSON COUNTY CITY OF TIFFIN GENERAL OBLIGATION CORPORATE PURPOSE BOND, SERIES 2024A No. MATURITY DATE BOND DATE CUSIP RATE May 30, 2024 886561 June 1, 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 the office of UMB in lawful money of the United States of America upon presentation and surrender of this Bond at with interest Bank, n. a., West Des Moines, Iowa ( hereinafter referred to as the " Registrar" or the " Paying Agent"), until at the rate annum specified above from the date of this Bond, or from the most recent on said sum, paid, per 1 and December 1 of each year, commencing payment date on which interest has been paid, on June interest December 1, 2024, 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, at the address shown on such registration books. Interest shall be and shall be paid to the registered owner 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. the " Bonds") This Bond is one of a series of General Obligation Corporate Purpose Bonds, Series 2024A ( under certain loan dated as of May 30, 2024 ( the " Loan issued by the City to evidence its obligation a agreement, to that extent, of (a) constructing street, Agreement"), entered into by the City for the purpose of paying the costs, storm water drainage, sanitary sewer system, water system and sidewalk improvements; ( b) acquiring and installing street lighting, signage andsignalization improvements; ( c) acquiring vehicles and equipment for the municipal for the municipal fire depat talent. public works department; and ( d)acquiring vehicles and equipment The Bonds are issued pursuant to and in strict compliance with the provisions of Chapters 76 and 384 of the in with Code of Iowa, 2023, and all other laws amendatory thereof and supplemental thereto, and conformity a the Loan Agreement and resolution of the City Council, adopted on 21, 2024, authorizing and approving May Bonds ( the " Resolution"), and reference is hereby made providing for the issuance and securing the payment of the to the Resolution and the Loan for a more complete statement as to the source of payment of the Bonds Agreement and the rights of the owners of the Bonds. The Bonds are not subject to optional redemption prior to maturity. of the This Bond is fully negotiable but shall be fully registered as to both principal and interest in the name in the office of the after which no transfer shall be valid unless made on owner on the books of the City Registrar, instrument of said books and then only upon presentation of this Bond to the Registrar, together with either a written 6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA