Common use of Authorization of the Bonds Clause in Contracts

Authorization of the Bonds. (a) The Bonds are authorized in the aggregate maximum principal amount of $55,000,000 for the purpose of providing funds to pay Project Costs, which Bonds shall be designated the “City of Olivette, Missouri, Taxable Industrial Revenue Bonds (1150 North Price, LLC Project), Series 2024.” The Bonds shall be dated as provided in Section 203(b), shall become due on December 1, 2027 (subject to prior redemption as provided in Article III) and shall bear interest as specified in Section 208(f), payable on the dates specified in Section 208(f). (b) The Trustee is hereby designated as the Paying Agent. The Owners of a majority of Bonds then-Outstanding may designate a different Paying Agent upon written notice to the City and the Trustee. (c) The Bonds shall be executed without material variance from the form and in the manner set forth in Exhibit C and delivered to the Trustee for authentication. Prior to or simultaneously with the authentication and delivery of the Bonds by the Trustee, there shall be filed with the Trustee the following:

Authorization of the Bonds. (a) The Bonds are authorized in the aggregate maximum principal amount of $55,000,000 for the purpose of providing funds to pay Project Costs, which Bonds shall be designated the “City of Olivette, Missouri, Taxable Industrial Revenue Bonds (1150 North PriceOlivette ODC BREP I, LLC L.L.C. Project), Series 202420232024.” The Bonds shall be dated as provided in Section 203(b), shall become due on December 1, 2027 (subject to prior redemption as provided in Article III) and shall bear interest as specified in Section 208(f), payable on the dates specified in Section 208(f). (b) The Trustee is hereby designated as the Paying Agent. The Owners of a majority of Bonds then-Outstanding may designate a different Paying Agent upon written notice to the City and the Trustee. (c) The Bonds shall be executed without material variance from the form and in the manner set forth in Exhibit C and delivered to the Trustee for authentication. Prior to or simultaneously with the authentication and delivery of the Bonds by the Trustee, there shall be filed with the Trustee the following: