R2001-236 AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDMENT

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satisfied. The Bonds are authorized to be reissued in an aggregate principal amount not to exceed $750,000, shall mature on a date or dates not later than November 4, 2024 subject to prior redemption as provided in the Loan Agreement, and shall bear interest at the rates per annum as provided for in the Loan Agreement, the provisions of which are incorporated in and made a part of this resolution. The Bonds shall be in fully-registered form, shall be payable at the times, places, manner and from the sources, shall be executed by the manual or facsimile signature of the Mayor of the Issuer and attested by the manual or facsimile signature of its City Clerk and sha11 contain such provisions, all as provided in the Loan Agreement, as executed and delivered. The official seal of the Issuer shall be impressed, or a facsimile of such seal shall be imprinted on the Bonds. Section 3. Amendment to Ori�tinal Resolution. The Original Resolution, and the form of the Bonds contained therein, is hereby amended to replace the definitions of Initial Interest Rate and Adjusted Interest Rate with the following: "Initial Interest Rate" means a rate of interest equal to 5.60% per annum through and including November 3, 2001, and 4.70% per annum from November 4, 2001 through and including November 3, 2004. "Adjusted Interest Rate" means the rate calculated by the Bondholder so as to provide the Bondholder a tax equivalent yield on the Bonds equal to the 5 year constant maturity treasury(CMT), as published by the federal reserve, plus 275 basis points. Section 4. Authorization of First Amendment to Loan Agreement. In order to provide for the amendment and reissuance of the Bonds, and to provide for the repayment of the Bonds, the Mayor and the City Clerk are hereby authorized and directed to execute and deliver the First Amendment to Loan Agreement in substantially the form presented to this meeting and containing substantially the terms and provisions set forth therein with such insertions, deletions, changes, omissions and variations as the Mayor may deem appropriate (such approval by the Mayor of any such changes shall be conclusively established by the execution of the First Amendment to Loan Agreement by the Mayor). Section 5. Authorization of Tax Agreement. The Mayor and the City Clerk are hereby authorized and directed to execute and deliver the Tax Agreement in substantially the form presented to this meeting and containing substantially the terms and provisions set forth therein with such insertions, deletions, changes, omissions and variations as the Mayor may deem appropriate (such approval by the Mayor of any such changes sha11 be conclusively established by the execution of the Tax Agreement by the Mayor). Section 6. Approval. This Resolution constitutes the public approval of the plan of financing. The Issuer hereby elects to have the provisions of Section 144(a)(4) of the Internal Revenue Code of 1986, as amended, apply to the Bonds. The Issuer hereby designates each of the Bonds as may be from time to time outstanding for purposes of Section 265(b)(3) of the Code as a"qualified tax exempt obligation". 3 �