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Aaaual I~t "Ul 84~ 006618 r ARTICLE II ISSUANCE AND EXECUTION OF BONDS Section 1. The Initial Series of Bonds in the ~ce amount of Three Million Dollars ($3.ooo.000) shall be issued ~ soon as practicable on or followlna tbe date of execution of tki8 the proceeds thereof .hall be delivered to the Trustee and PuDd, Bond Fund Reserve Account, and Construction Fun c:reace.t ~ In the aanner provided In Article. V and VI hereof. Section 2. The Initial Series of BoRda shall be "Industrial Development Revenue Bonds (Millard Warehouse. Grand SerIes A, II and shall be dated November I, 1984. The lDitial SKi.. of shall be two bonds In the auresue principal &1IOUnt of $3.000.000 1IIdds aurelate principal amount .hall be paid by .ana of 10 anmaal luta1lMnca, of principal in the amounts and at the date. DB follows: Date Due November I, 1985 November 1. 1986 November I, 1987 Novellber 1. 1988 November I, 1989 November 1. 1990 Novellber 1. 1991 November I, 1992 November I, 1993 November 1. 1994 $ 190.000 210.000 225.000 250 .000 275.000 300.000 330.000 370.000 415.000 435.000 The IniUal Series of Bonds shall draw interest from Novaber 1. 1984. to Nov81lber I, 1989, at tbe tax exeapt rate of 9.5% per lIIlnutl nd thereafter, to ..turity, at . fioatins tax exempt rate computed at 70% of the Ba.. late of IDterest (de bardo.fter defined) in accordance witb tbe HXt 8vccee4l8a p.rqrapb. In the event of a Detenll1naUon of Taxability (as hereiufter defined) the principal amount ~f tbe Series A Bonda from the date of Taxation (e. hereinafter defined), to November 1. 1989 shell bear intere.t at the rate of 13.5% per lIIlnua lIIld, thereafter. to maturity at a fIoatina rate of the Ia.. late 22 u L L ...J \. L