Agenda - 04-21-20; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of $40,750,000 in Installment Purchase Financing for Various Capital Investment Plan Projects

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24 delivery to the Lender, (b) payable as to interest semiannually until payment on each Payment Date at the annual rate of 2.70% (calculated based on a 360-day year consisting of twelve 30-day months and subject to adjustment as provided below), and (c) payable as to principal on October 1 in installments in years and amounts as follows: Maturity Date Principal Maturity Date Principal (October 11 Amount ($1 (October Amount f$1 [To come] Exhibit D shows a schedule of payments due on the 2020 Bonds with respect to each Payment Date. Upon any prepayment or redemption of the 2020 Bonds, the County will recalculate the schedule of payments to reflect the redemption, and will then deliver a substitute Exhibit D to the Trustee reflecting the recalculated payment schedule. Section 1.05. Interest Rate and Payment Adjustment. Upon any "Rate Adjustment Event," as defined below, (a) the unpaid principal of the 2020 Bonds will continue to be payable as shown in Section 1.04,but(b) the interest on the 2020 Bonds shall be recalculated, at an interest rate equal to an annualized interest rate equal to the "Prime Rate," as defined below, plus 2% (200 basis points),to the date (retroactively, if need be) determined pursuant to the Rate Adjustment Event to be the date interest became includable in any Bondholder's gross income for federal income tax purposes. The Bondholder shall promptly prepare a substitute debt service schedule reflecting the new interest rate and resulting payment schedule, and deliver a copy of the new schedule to the County, the Trustee and to the LGC. The County shall pay interest at each adjusted rate as in effect from time to time (subject to credit for interest previously paid) to each affected Bondholder, notwithstanding the fact that any particular Bondholder may not be a Bondholder on 3