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Page 6 The Lone Tree Reporter Thursd., March 26, 2009
Continued... from page 5
obligation to such Participants or the persons
for whom they act as nominees with respect
to payment to or providing of notice for such
Participants or the persons for whom they act
as nominees.
As used herein, the term "Beneficial Owner"
shall hereinafter be deemed to include the
person for whom the Participant acquires an
interest in the Bonds.
DTC will receive payments from the County,
to be remitted by D.TC to the Participants for
subsequent disbursement to the Beneficial
Owners. The ownership interest of each Ben-
eficial Owner in the Bonds will be recorded
on the records oftbe Participants whose own-
ership interest will be recorded on a computer-
ized book-entry system kept by DTC.
When reference is made to any action which is
required or permitted to be taken by the Bene-
ficial Owners, such reference shall only relate
to those permitted to act (by statute, regula-
tion or otherwise) on behalf of such Benefi-
cial Owners for such purposes. When notices
are given, they shall be sent by the County to
DTC, and DTC shall forward (or cause to be
forwarded) the notices to the Participants so
that the Participants can forward the same to
the Beneficial Owners.
Beneficial Owners will receive written con-
firmations of their purchases from the Partici-
pants acting on behalf of the Beneficial Own-
ers detailing the terms of the Bonds acquired.
Transfers of ownership interests in the Bonds
will be accomplished by book entries made by
DTC and the Participants who act on behalf
of the Beneficial Owners. Beneficial Own-
ers will not receive certificates representing
their ownership interest in the Bonds, except
as specifically provided herein. Interest and
principal will be paid when due by the County
to DTC, then paid by DTC to the Participants
and thereafter paid by the Participants to the
13eneficial Owners.
Section 5. The Bonds shall be in substantially
the following form:
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF IOWA JOHNSON COUNTY
GENERAL OBLIGATION EMERGENCY
COMMUNICATION BUILDING BOND,
SERIES 2009A
No. $
MATURITY BOND
RATE DATE DATE CUSIP
April 1,
% June 1, 2009
Johnson County (the "County"), in the 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 sure of
THOUSAND DOLLARS
in lawful money of the United States of
America upon presentation and surrender of
this Bond at the office of the Johnson County
Treasurer, Iowa City, Iowa (hereinafter re-
ferred 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 in-
terest payment date on which interest has been
paid, on June 1 and December 1 of each year,
commencing December 1, 2009, except as the
provisions hereinafter set forth with respect
to redemption prior to maturity may be or be-
come applicable hereto. Interest on this Bond
is payable to the registered owner appearing
on the registration books of the County at
the close of business on the fifteenth day of
hereon completed and duly executed by the has promulgated certain amendments to
registered owner or the duly authorized attor- Rule 15c2-12 under the Securities Exchange
ney for such registered owner. Act of 1934 (17 C.F.R. § 240.15c2-12) (the
The County, the Registrar and the Paying "Rule") that make it unlawful for an under-
Agent may deem and treat the registered writer to participate in the primary offering of
owner hereof as the absolute owner for the municipal securities in a principal amount of
purpose of receiving payment of or on account $1,0OO,OO0 or more unless, before submitting
of principal hereof, premium, if any, and in- a bid or entering into a purchase contract for
terest due hereon and for all other purposes, such securities, it has reasonably determined
and the County, the Registrar and the Paying that the issuer or an obligated person has
Agent shall not be affected by any notice to undertaken in writing for the benefit of the
the contrary, holders of such securities to provide certain
And It Is Hereby Certified and Recited that disclosure information to prescribed informa-
all acts, conditions and things required by the tion repositories on a continuing basis so long
laws and Constitution of the State of Iowa, as such securities are outstanding.
to exist, to be had, to be done or to be per- On the date of issuunee and delivery of the
formed precedent to and in the issue of this Bonds, the County will execute and deliver
Bond were and have been properly existent, a Continuing Disclosure Certificate pursuant
had, done and performed in regular and due to which the County will undertake to corn-
form and time; that the General Fund and the ply with the Rule. The County covenants and
faith, credit, revenues and resources and all agrees that it will comply with and carry out
the real and personal property of the County the provisions of the Continuing Disclosure
have been irrevocably pledged for the prompt Certificate. Any and all of the officers of the
payment hereof, both principal and interest; County are hereby authorized and directed to
and that the total indebtedness of the County, take any and all actions as may be necessary
including this Bond, does not exceed any con- to comply with the Rule and the Continuing
stitutienal or statutory limitations. Disclosure Certificate.
IN TESTIMONY WHEREOF, Johnson Section 10. All resolutions or parts thereof in
County, Iowa, by its Board of Supervisors, conflict herewith are hereby repealed to the
has caused this Bond to be sealed with the extent of such conflict.
facsimile of its official seal, to be executed Motion by Stutsman, second by Meyers, to
with the duly authorized facsimile signature approve Resolution 03-12-09-01.
of its Chairperson and attested with the duly RESOLUTION 03-12-09-02
authorized facsimile signature of its County RESOLUTION PROVIDING FOR THE
Auditor, all as of April 1, 2009. SALE AND ISSUANCE OF $11,000,000
JOHNSON COUNTY, IOWA GENERAL OBLIGATION EMERGENCY
By (DO NOT SIGN) COMMUNICATION EQUIPMENT BONDS,
Chairperson, Board of Supervisors SERIES 2009B
Attest: WHEREAS, pursuant to the provisions of See-
(DO NOT SIGN) tion 331.402(3) of the Code of Iowa, Johnson
County Auditor County, Iowa (the "County"), has heretofore
(Seal) proposed to contract indebtedness and enter
Registration Date: (Registration Date) into a loan agreement (the "LoanAgreemeat")
REGISTRAR'S CERTIFICATE OF AU- in the prineipal amount of$11,000,000 to pro-
THENTICATION vide funds to pay the cost, to that extent, of
This Bond is one of the Bonds described in the acquiring eqmpment for a Joint Emergency
within-mentioned resolution. Communication System, and has published
By (DO NOT SIGN) notice of the proposed action and has held a
Johnson County Treasurer hearing thereon; and
ABBREVIATIONS WHEREAS, pursuant to advertisement of sale
The following abbreviations, when used in bids for the purchase of $11,OO0,OO0 General
this Bond, shall be construed as though they Obligation Emergency Communication Equip-
were written out in full according to appli- merit Bonds, Series 2009B (the "Bonds"), to
cable laws or regulations: be issued in evidence of the County's obliga-
as tenants in UTMA tion under the LoanAgreement, were received
TEN COM- common and canvassed on behalf of the County and the
substance of such bids noted in the minutes;
as tenants by and
TEN ENT- the entireties (Custodian) WHEREAS, upon final consideration of all
As Custodian for bids, the bid of Robert W. Baird & Company,
Incorporated (the "Purchaser") is the best,
such bid proposing the lowest interest cost to
as joint ten- the County;
ants with NOW, THEREFORE, Be It Resolved by the
JT TEN- right of (Minor) Board of Snpervisors of Johnson County,
under Uniform Iowa, as follows:
survivorshipTransfers to Mi- Section 1. The County hereby determines
and not as nots Act to enter into the Loan Agreement with the
tenants in Purchaser, in substantially the form attached
hereto, providing for a loan to the County in
common the principal amount of $11,000,000, for the
(State) purpose set forth in the preamble hereof.
Additional abbreviations may also be used The Chairperson of the Board and the County
though not in the list above. Auditor are hereby authorized and directed
ASSIGNMENT to sign the Loan Agreement on behalf of the
For valuable consideration, receipt of which County, and the Loan Agreement is hereby
is hereby acknowledged, the undersigned as- approved.
signs this Bond to Section 2. The bid of the Purchaser referred
to in the preamble hereof is hereby accepted,
and the Bonds, dated April I, 2009, maturing
(Please print or type name and address of As, on June 1 in each of the years in the principal
signee) amounts and bearing interest at the respective
rates as follows:
the month next preceding the interest pay-
ment date, and shall be paid by check or draft PLEASE INSERT SOCIAL SECURITY OR
mailed to the registered owner at the address OTHER
shown on such registration books. IDENTIFYING NUMBER OF ASSIGNEE
This Bond shall not be valid or become oblig- and does hereby irrevocably appoint
atory for any purpose until the Certificate of , Attorney, to transfer this Bond
Authentication hereon shall have been signed on the books kept for registration thereof with
by the Registrar. full power of substitution.
This Bond is one of a series of Bonds (the Dated:
"'Bonds") issued by the County to evidence its Signature guaranteed:
obligation under a certain Loan Agreement,
dated as of April 1, 2009 (the "Loan Agree-
ment"), entered into by the County for the (Signature guarantee must be provided in ac-
purpose of providing funds to pay a portion of eordance with the prevailing standards and
the cost of the construction of an Emergency procedures of the Registrar and Transfer
Communication Building. Agent. Such standards and procedures may
The Bonds are issued pursuant to and in strict require signatures to be guaranteed by eer-
compliance with the provisions of Section tain eligible guarantor institutions that par-
331.402(3) of the Code of Iowa, 2007, and tieipate m a recognized signature guarantee
all other laws amendatory thereof and supple- program.)
mental thereto, and in conformity with a reso-
lution of the County Board of Supervisors au-
thorizing and approving the Loan Agreement NOTICE: The signature to this Assignment
and providing for the issuance and securing must correspond with the name of the regis-
the payment of the Bonds (the "Resolution"), tered owner as it appears on this Bond in every
and reference is hereby made to the Resolu- particular, without alteration or enlargement
tion and the Loan Agreement for a more tom- or any change whatever.
plete statement as to the source of payment Section 6. The Bonds shall be executed as
of the Bonds and the rights of the owners of herein provided as soon after the adoption of
the Bonds. this resolution as may be possible and there-
The County reserves the right to prepay part or upon shall be delivered to the Registrar for
all of the Bonds maturing in each of the years registration, authentication and delivery to
2019 and 2020, prior to and in any order of or upon the direction of the Purchaser, upon
maturity on June 1, 2018,or onany date there- receipt of the loan proceeds, and all action
after upon terms of par and accrued interest, heretofore taken in connection with the Loan
if less than all of the Bonds of any like matu- Agreement and the sale of the Bonds is hereby
rity are to be redeemed, the particular part of ratified and confirmed in all respects.
those Bonds to be redeemed shall be selected Section 7. The County hereby pledges the
by the Registrar by lot. The Bonds may be General Fund and the faith, credit, revenues
called in part in one or more units of $5,000. and resources and all of the real and personal
If less than the entire principal amount of any property of the County for the full and prompt
Bond in a denomination of more than $5,000 payment of the principal of and interest on the
is to be redeemed, the Registrar will issue and Bonds.
deliver to the registered owner thereof, upon Section 8. It is the intention of the County that
surrender of such original Bond, a new Bond interest on the Bonds be and remain excluded
from gross income for federal income tax
or Bonds, in any authorized denomination, in
a total aggregate principal amount equal to the purposes pursuant to the appropriate provi-
unredeemed balance of the original Bond. No- sions of the Internal Revenue Code of 1986,
tice of such redemption as aforesaid identify- as amended, and the Treasury Regulations in
ing the Bond or Bonds (or portion thereof) to effect with respect thereto (all of the forego-
be redeemed shall be sent by electronic means ing herein referred to as the "Internal Revenue
or mailed by certified mail to the registered Code"). In furtherance thereof, the County
owners thereof at the addresses shown on the covenants to comply with the provisions of
County's registration books not less than 30 the Internal Revenue Code as they may from
days prior to such redemption date. All of time to time be in effect or amended and fur-
such Bonds as to which the County reserves ther covenants to comply with the applicable
and exercises the right of redemption and as future laws, regulations, published rulings and
to which notice as aforesaid shall have been court decisions as may be ueeessary to insure
given and for the redemption of which funds that the interest on the Bonds will remain ex-
are duly provided, shall cease to bear interest eluded from gross income for federal income
on the redemption date. tax purposes. Any and all of the officers of the
This Bond is fully negotiable but shall be County are hereby authorized and directed to
fully registered as to both principal and inter- take any and all actions as may be necessary to
est in the name of the owner on the books of comply with the covenants herein contained.
the County in the office of the Registrar, after The County hereby designates the Bonds as
which no transfer shall be valid unless made "Qualified Tax Exempt Obligations" as that
on said books and then only upon presentation term is used in Section 265(b)(3)(B) of the
of this Bond to the Registrar, together with ei- Internal Revenue Code.
ther a written instrument of transfer satisfac- Section 9. Continuing Disclosure. The Securi-
rely to the Registrar or the assignment form ties and Exchange Commission (the "SEC")
Principal Interest Rate
YearAmount Per Annure
2010 $590,OO0 3.00%
2011 $775,000 3.OO%
2012 $800,000 3.OO%
2013 $830,000 3.00%
2014 $860,000 3.00%
2015 $890,000 3.25%
2016 $930,000 3.50%
2017 $970,000 3.50%
2018 $1,010,0003.75%
2019 $1,060,0004.OO%
2020 $1,115,0004.00%
2021 $1,170,OO04.00%
are hereby awarded and authorized to be is-
sued to the Purchaser at the pnee specified in
such bid, together with accrued interest.
Section 3. The form of agreement of sale
(the "Sale Agreement") of the Bonds to the
Purchaser is hereby approved, and the Chair-
person of the Board and County Auditor are
hereby authorized to execute the Sale Agree-
meat for and on behalf of the County.
The County Treasurer is hereby designated as
the Registrar and Paying Agent for the Bonds
and may be hereinafter referred to as the
"Registrar" or the "Paying Agent."
The County reserves the right to prepay part or
all of the Bonds maturing in each of the years
2019 to 2021, inelnsive, prior to and in any
order of maturity on June 1, 2018, or on any
date thereafter upon terms of par and accrued
interest. If less than all of the Bonds of any
like maturity are to be redeemed, the particu-
lar part of those Bonds to be redeemed shall
be selected by the Registrar by lot. The Bonds
may be called in one or more units of $5,0OO.
If less than the entire principal amount of any
Bond in a denomination of more than $5,OO0
is to be redeemed, the Registrar will issue and
deliver to the registered owner thereof, upon
surrender of such original Bond, a new Bond
or Bonds, in any authorized denomination, in
a total aggregate principal amount equal to the
unredeemed balance of the origit/al Bond. No-
tice of such redemption as aforesaid identify-
ing the Bond or Bonds (or portion thereof) to
be redeemed shall be sent by electronic means
or mailed by certified mail to the registered
owners thereof at the addresses shown on the
County's registration books not less than 30
days prior to such redemption flate. All of
such Bonds as to which the County reserves
and exercises the right of redemption and as
to which notice as aforesaid shall have been
given and for the redemption of which funds
are duly provided, shall cease to bear interest
on the redemption date.
All of the interest on the Bonds shall be
payable December 1, 2009, and semiannu-
ally thereafter on the first day of June and
December in each year. Payment of interest
on the Bonds shall be made to the registered
owner~ appearing on the registration books
oftheCounty at the close of business on the
fifteenth day of the month next preceding the UNITED STATES OF AMERICA
interest payment date and shall be paid by STATE OF IOWA JOHNSON COUNTY
check or draft mailed to the registered own- GENERAL OBLIGATION EMERGENCY
ers at the addresses shown on such registration COMMUNICATION EQUIPMENT BOND,
books. Principal of the Bonds shall be pay- SERIES 2009B
able in lawful money of the United States of No. $
America to the registered owners or their legal
representatives upon presentation and surrea- M AT U R I T YB O N D
der of the Bond or Bonds at the office of the RATE DATE DATE CUSIP
Paying Agent. April1,
The Bonds shall be executed on behalf of the % June 1, 2009
County with the official manual or facsimile Johnson County (the "County"), in the State
signature of the Chairperson of the Board and of Iowa, for value received, promises to pay
attested with the official manual or facsimile on the maturity date of this Bond to
signature of the County Auditor and shall Cede & Co.
have the County's seal impressed or printed New York, New York
thereon, and shall be fully registered Bonds or registered assigns, the principal sum of
without interest coupofis. In ease any officer THOUSAND DOLLARS
whose signature or the facsimile of whose sig- in lawful money of the United States of
nature appears on the Bonds shall cease to be America upon presentation and surrender of
such officer before the delivery of the Bonds, this Bond at the office of the Johnson County
such signature or such facsimile signature Treasurer, Iowa City, Iowa (hereinafter re-
shall nevertheless be valid and sufficient for ferred to as the "Registrar" or the "Paying
all purposes, the same as if such officer had Agent"), with interest on said sure, until paid,
remained in office until delivery, at the rate per annum specified above from the
The Bonds shall not be valid or become oblig- date of this Bond, or from the most recent in-
atory for any purpose until the Certificate of terest payment date on which interest has been
Authentication thereon shall have been signed paid, on June 1 and December 1 of each year,
by the Registrar. commencing December 1, 2009, except as the
The Bonds shall be fully registered as to prin- provisions hereinafter set forth with respect
cipal and interest in the names of the owners to redemption prior to maturity may be or be-
on the registration books of the County kept come applicable hereto. Interest on this Bottd
by the Registrar, and after such registration, is payable to the registered owner appearing
payment of the principal thereof and interest on the registration books of the County at
thereon shall be made only to the registered the close of business on the fifteenth day of
owners or their legal representatives or as- the month next preceding the interest pay-
signs. Each Bond shall be transferable without ment'date, and shall be paid by check or draft
cost to the registered owner thereof only upon mailed to the registered owner at the address
the registration books of the County upon pre- shown on such registration books.
sentation to the Registrar, together with either This Bond shall not be valid or become oblig-
a written instrument of transfer satisfactory to atory for any purpose until the Certificate of
the Registrar or the assignment form thereon Authentication hereon shall have been signed
completed and duly executed by the registered by the Registrar.
owner or the duly authorized attorney for such This Bond is one of a series of Bonds (the
registered owner "Bonds") issued by the County to evidence its
The record and identity of the owners of the obligation under a certain Loan Agreement,
Bonds shall be kept confidential as provided dated as of April 1, 2009 (the "Loan Agree-
by Section 22.7 oftbe Code oflowa, ment"), entered into by the County for the
Section 4. Notwithstanding anything above to purpose of providing funds to pay a portion
the contrary, the Bonds shall be issued initially of the cost of acqutring equipment for a Joint
as Depository Bonds, with one fully regis- Emergency Communication System.
tered Bond for each maturity date, in princt- The Bonds are issued pursuant to and in strict
pal amounts equal to the amount of principal compliance with the provisions of Section
maturing on each such date, and registered in 331.402(3) of the Code of Iowa, 2007, and
the name of Cede & Co., as nominee for The all other laws amendatory thereof and supple-
Depository Trust Company, New York, New mental thereto, and in conformity with a reso-
York ("DTC"). On original issue, the Bonds lutiun of the County Board of Supervisors an-
shall be deposited with DTC for the purpose thorizing and approving the Loan Agreement
of maintaining a book-catty system for record- and providing for the issuance and securing
ing the ownership interests of its participants the payment of the Bonds (the "Resolution"),
and the transfer of those interests among its and reference is hereby made to the Resolu-
participants (the "Participants"). In the event tion and the Loan Agreement for a more corn-
that DTC determines not to continue to act plete statement as to the source of payment
as securities depository for the Bonds or the of the Bonds and the rights of the owners of
County determines not to continue the book- the Bonds.
entry system for recording ownership inter- The County reserves the right to prepay part
ests in the Bonds with DTC, the County will or all of the Bonds matunng in each of the
discontinue the book-entry system with DTC. years 2019 to 2021, inclusive, prior to and
If the County does not select another quali- in any order of maturity on June 1, 2018, or
fled securities depository to replace DTC (or on any date thereafter upon terms of par and
a successor depository) in order to continue accrued interest. If less than all of the Bonds
a book-entry system, the County will register of any like maturity are to be redeemed, the
and deliver replacement Bonds in the form of particular part of those Bonds to be redeemed
fully registered certificates, in authorized de- shall be selected by the Registrar by lot. The
nominations of $5,000 or integral multiples of Bonds may be called in part irr one or more
$5,000, in accordance with instructions from units of $5,000. If less than the entire prin-
Cede & Co., as nominee for DTC. In the event cipal amount of any Bond in a denomination
that the County identifies a qualified securities of more than $5,000 is to be redeemed, the
depository to replace DTC, the County will Registrar will issue and deliver to the regis-
register and deliver replacement Bonds, fully tered owner thereof, upon surrender of such
registered in the name of such depository, or original Bond, a new Bond or Bonds, in any
its nominee, in the denominations as set forth authorized denomination, in a total aggregate
above, as reduced from time to time prior to principal amount equal to the unredeemed
maturity in connection with redemptions or balance of the original Bond. Notice of such
retirements by call or payment, and in such redemption as aforesaid identifying the Bond
event, such depository will then maintain the or Bonds (or portion thereof) to be redeemed
book-entry system for recording ownership shall be sent by electronic means or mailed by
interests in the Bonds. certified mail to the registered owners thereof
Ownership interests in the Bonds may be at the addresses shown on the County's reg-
purchased by or through Participants. Such istration books not less than 30 days prior to
Participants and the persons for whom they such redemption date. All of such Bonds as
acquire mterests in the Bonds as nominees to which the County reserves and exercises
will not receive certificated Bonds, but each the right of redemption and as to which notice
such Participant will receive a credit balance as aforesaid shall have been given and for the
m the records of DTC in the amount of such redemption of which funds are duly provided,
Participant's interest in the Bonds, which will shall cease to bear interest on the redemption
be confirmed in accordance with DTC's start- date.
dard procedures. Each such person for which This Bond is fully negotiable but shall be
a Participant has an interest in the Bonds, as fully registered as to both principal and inter-
nominee, may desire to make arrangements est in the name of the owner on the books of
with such Participant to have all notices of the County in the office of the Registrar, after
redemption or other communications "of the which no transfer shall be valid unless made
County to DTC, which may affect such per- on said books and then only upon presentation
son, forwarded in writing by such Participant of this Bond to the Registrar, together with ei-
and to have notification made of all interest ther a written instrument of transfer satisfac-
payments, tory to the Registrar or the assignment form
The County will have no responsibility or hereon completed and duly executed by the
obligation to such Participants or the persons registered owner or the duly authorized attor-
for whom they act as nominees with respect hey for such registered owner.
to payment to or providing of notice for such The County, the Registrar and the Paying
Participants or the persons for whom they act Agent may deem and treat the registered
as nominees, owner hereof as the absolute owner for the
As used herein, the term "Beneficial Owner" purpose of receiving payment of or on account
shall hereinafter be deemed to include the of principal hereof, premium, if any, and in-
person for whom the Participant acquires an terest due hereon and fo~ all other purposes,
interest in the Bonds. and the County, the Registrar and the Paying
DTC will receive payments from the County, Agent shall not be affected by any notice to
to be remitted by DTC to the Participants for the contrary.
subsequent disbursement to the Beneficial And It Is Hereby Certified and Recited that
Owners. The ownership interest of each Ben- all acts, conditions and things required by the
eficial Owner in the Bonds will be recorded laws and Constitution of the State of Iowa, to
on the records of the Participants whose own- exist, to be had, to be done or to be performed
ership interest will be recorded on a computer- precedent to and in the issue of this Bond
ized book-entry system kept by DTC. were and have been properly existent, had,
When reference is made to any action which is done and performed in regular and due form
required or permitted to be taken by the Bene- and time; that provision has been made for the
fieial Owners, such reference shall only relate levy of a sufficient continuing annual tax on
to those permitted to act (by statute, regula- all the taxable property within the County for
tion or otherwise) on behalf of such Benefi- the payment of the .principal of and interest
cial Owners for such purposes. When notices on this Bond as the same will respectively be-
are given, they shall be sent by the County to come due; that the faith, credit, revenues and
DTC, and DTC shall forffard (or cause to be resources and all the real and personal prop-
forwarded) the notices to the Participants so erty of the County are irrevocably pledged for
that the Participants can forward the same to the prompt payment hereof, both principal and
the Beneficial Owners. interest; and that the total indebtedness of the
Beneficial Owners will receive written con- County, including this Bond, does not. exceed
firmations of their purchases from the Partici- any constitutional or statutory limitations.
pants acting on behalf of the Beneficial Own- IN TESTIMONY WHEREOF, Johnson
ers detailing the terms of the Bonds acquired. County, lowa, by its Board of Supervisors,
Transfers of ownership interests in the Bonds has .caused this Bond to be sealed with the
will be accomplished by book entries made by . facsimile of its official seal, to be executed
DTC and the'Participants who act on behalf with the duly authorized facsimile signature
of the Beneficial Owners. Beneficial Own- of its Chairperson and attested with the duly
ers will not receive certificates representing authorized facsimile signature of its County
their ownership interest in the Bonds, except Auditor, all as of April 1, 2009.
as specifically provided herein. Interest and JOHNSON COUNTY, IOWA
principal will be paid when due by the County By (DO NOT SIGN).
to DTC, then paid by DTC to the Participants Chairperson, Board of Supervisors
and thereafter paid by the Participants to the Attest:
Beneficial Owners. (DO NOT SIGN).
Section 5. The Bonds shall be in substantially County Auditor
the following form: (Seal)
(Form of Bond) Registration Date: (Registration Date)
REGISTRAR'S CERTIFICATE OF AU-
THENTICATION
This Bond is one of the Bonds described in the
within-mentioned resolution.
By (DO NOT SIGN).
Iohnson County Treasurer
ABBREVIATIONS
The following abbreviations, when used in
this Bond, shall be construed as though they
were written out in full according to appli-
cable laws or regulations:
as tenants in UTMA
TEN COM- common
as tenants
by the en- (Custo-
TEN ENT- tireties .~ dian)
As Custodian for
JT TEN-
as joint ten-
ants with
right of (Minor)
survivor-under Uniform
ship andTransfers to Minors
not as Act
tenants in
common
(State)
Additional abbreviations may also be used
though not in the list above.
ASSIGNMENT
For valuable consideration, receipt of which
is hereby acknowledged, the undersigned as-
signs this Bond to
(Please print or type name and address of As-
siguee)
PLEASE INSERT SOCIAL SECURITY OR
OTHER
IDENTIFYING NUMBER OF ASSIGNEE
and does hereby irrevocably appoint
, Attorney, to transfer this
Bond on the books kept for registration there-
of with full power of substitution.
Dated:
Signature guaranteed:
(Signature guarantee must be provided in ac-
cordance with the prevailing standards and
procedures of the Registrar and Transfer
Agent. Such standards and procedures may
• require signatures to be guaranteed by cer-
tain eligible guarantor institutions that par-
ticipate in a recognized signature guarantee
program.)
NOTICE: The signature to this Assignment
must correspond with the name of the regis-
tered owner as it appears on this Bond in every
particular, without alteration or enlargement
or any change whatever.
Section 6. The Bonds shall be executed as
herein provided as soon after the adoption of
this resolution as may be possible and there-
upon shall be delivered to the Registrar for
registration, anthentieation and delivery to
or upon the direction of the Purchaser, upon
receipt of the loan proceeds, and all action
heretofore taken in connection with the Loan
Agreement and the sale of the Bonds is hereby
ratified and confirmed in all respects.
Section 7. For the purpose of providing for the
levy and collection of a direct annual tax suf-
ficient to pay the principal of and interest on
the Bonds as the same becomes due, there is
hereby ordered levied on all the taxable prop-
erty in the County in each of the years while
the Bonds are outstanding, a tax sufficient for
that purpose, and in furtherance of this pro-
vision, but not in limitation thereof, there is
hereby levied on all the taxable property in the
County the following direct annual tax for col-
lection in each of the following fiscal years:
For collection in the fiscal year beginning July
l, 2009,
sufficient to produce the net annual sure of
$1,036,541.67;
For collection in the fiscal year beginning July
1, 2010,
sufficient to produce the net annual sure of
$1,140,050.00;
For collection in the fiscal year beginning July
1, 2011,
sufficient to produce the net annual sum of
$1,141,800.00;
For collection in the fiscal year beginning July
1, 2012,
sufficient to produce the net annual sum of
$1,147,800.00;
For collection in the fiscal year beginning July
1,2013,
sufficient to produce the net annual sure of
$1,152,900.00;
For collection in the fiscal year beginning July
1, 2014,
suffioient to produce the net annual sum of
$1,157,100.00;
For collection in the fiscal year beginning July
1, 2015,
sufficient to produce the net annual sum of
$1,168,175.00;
For collection in the fiscal year beginning July
1, 2016,
sufficient to produce the net annual sum of
$1,175,625.00;
For collection in the fiscal year beginning July
l, 2017,
sufficient to produce the net annual sum of
$1,181,675.00;
For collection in the fiscal year beginning July
1, 2018,
sufficient to produce the net annual sum of
$1,193,800.00;
For collection in the fiscal year beginning July
1, 2019,
sufficient to produce the net annual sum of
$1,206,400.00;
For collection in the fiscal year beginning July
1, 2020,
sufficient to produce the net annual sum of
$1,216,800.00.
Section 8. A certified copy of this resolution
shall be filed with the County Auditor, and the
Auditor is hereby instructed to enter for col-
lection and assess the tax hereby authorized.
When annually entering such taxes for col-
lection, the County Auditor shall include the
same as a part of the tax levy for Debt Ser-
vice Fund purposes of the County and when
collected, the proceeds of the taxes shall be
converted into the Debt Service Fund of the
County and set aside therein as a special ac-
count to be used solely and only for the pay-
ment of the principal of and interest on the
Bonds hereby authorized and for no other
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