Banner Graphic, Volume 9, Number 286, Greencastle, Putnam County, 9 August 1979 — Page 10

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The Putnam County Banner-Graphic, July 9,1979

New and improved Downing comfortable at top

c. 1979 N.Y. Times News Service ANAHEIM, CALIF. Brian Downing that is, the new, improved Brian Downing, with the more powerful body, the strange-looking open stance and a batting average almost 100 points higher than his career average had an old problem. He had not had a hit in four games. His average had dropped 18 points in two weeks. He knew exactly what was wrong. It was not his hands or feet or shoulders or hips or swing or follow-through, or any of the other elements in the science of hitting a round ball with a cylindrical bat. The problem was inside his head. Before this year, confidence had never flowed from him. It had never oozed, or even leaked “I believe in positive thinking,” Downing said. "But I’m not real good at positive thinking." Now there was a new problem, the new numbers Having started his career happily in the role of utility player, then having become a defensive catcher who hit a lot of ground balls 'and batted .246 in six major league seasons, Brian Downing of the California Angels was appearing in newspapers every day. Sometimes, his name was at the top of the list, under the heading "Major League Leaders.” It is not an easy place to become comfortable. especially if you’ve never been there before. "I never considered myself a .300 hitter,” he said. "Too many faults. Too many ways to pitch me. I’ve never hit .300 in my life, and all of a sudden I’m at .350.” An explanation was necessary everywhere he went. Last year, he hit .255. This year his average was .359 on June 17 and .334 at the All-

egal Notice

CITY OF GREENCASTLE OROfNANCE NO. 8 AN ORDINANCE CONCERNING THE CONSTRUCTION OF EXTENSIONS, ADDITIONS AND IMPROVEMENTS TO THE MUNICIPAL WATERWORKS SYSTEM OF THE CITY OF GREENCASTLE, INDIANA, AUTHORIZING THE ISSUANCE OF REVENUE BONDS TO PROVIDE FOR THE COSTS THEREOF AND MATTERS . CONNECTED THEREWITH WHEREAS, The City of Greencastle, Indiana. (hereinafter referred to as the City"), , i%ihe owner of an unencumbered waterworks system commonly known as the Department of Waterworks of the City of Greencastle, Indiana which is engaged in furnishing the .public water supply and fire protection to said City and its inhabitants and to certain areas within five (5) miles of the City limits of said , Gity; and WHEREAS, said Department of Waterworks is operated by a Board of Trustees, (hereinafter referred to as the Board' ); and WHEREAS, the Board has determined and the Common Council of the City now finds that said waterworks system is in need of certain extensions, additions and improvements in order to furnish a sufficient supply of water of proper quality and at proper pressure to the City and its inhabitants for consumption and fire protection, and that said extensions, additions and improvements are required in order to protect properly the health, well being and property of the City and its inhabitants; and WHEREAS, the firm of Ronald L. Bonar & Associates, Inc., consulting engineers of Fort Wayne, Indiana, has bean employed by the Board to recommend necessary extensions, , . additions and improvements to the waterworks system of the City, to estimate the cost • . thereof, and to prepare plans, specifications r and estimates therefor, and said engineers have made said recommendations, estimated s -said costs, and prepared said plans and , specifications, and • WHEREAS, the Common Council now finds, „ upon the basis of construction bids received -v j and estimates as to incidental expenses, that the costs of said extensions, additions and < improvements will be in the approximate . amount of '1,300,000. which amount includes y ; all incidental expenses necessary to be incurred in connection therewith and in con- • oection with the issuance of revenue bonds to finance same, that of said amount, '300,000 - . will be provided from funds on hand and the remainder by the issuance of revenue bonds; . ' and WHEREAS, the Common Council now finds that, subject to the approval ot the Public Service Commission of Indiana, funds required tor said construction project should be provided by the issuance and sale of revenue bonds payable solely out of the revenues of said waterworks system and not constituting a general obligation of the City. NOW THEREFORE, 8E IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA, as follows: Section 1. That the City, being the owner of and engaged in operating, by and through the Board, an unencumbered waterworks system supplying the City and its inhabitants with water tor sanitary and fire protection purposes, now provide for certain needed extensions, additions and improvements to such waterworks system and the payment for such extensions, additions and improvements from • the revenues and receipts thereof pursuant to and.in the manner prescribed in Chapter 235 . of.fhaActs of 1933. and all acts amendatory thereof or suppiementat thereto (sometimes : hereinafter referred to as the ‘‘Act”). Throughout this Ordinance the terms ' wateri works', water system", ‘ system", and "waterworks system", shall be construed to mean and include the existing waterworks , system owned by the City and operated by the - Board, and all extensions, additions and improvements thereto and replacements thereof now or subsequently constructed or acquired The term "City as used in this Ordinance • shall be construed to include any department, board, commission or officer or officers thereof ■ Section 2 Said extensions, additions and improvements shall be constructed and installed in accordance with the plans, specifications and estimates prepared by Ronald L. Bonar & Associates, Inc., consulting engineers of Fort Wayne, Indiana, which plans, specifications and estimates are hereby approved. The proceedings had and actions taken by the Board in the employment of engineers, accountants and attorneys, the preparation of plans, specifications and estimates, the advertising for and receipt of construction bids and the award of tentative contracts for construction are hereby ratified, confirmed and approved. The extensions, additions and improvements shall include the following: improvements and extensions to the distribution system, including the construction of additional mains and replacement of cenain existing mains, and including the ■ necessary valves, hydrants and other appurtenances; the construction of a new 2.000,000 gallon water standpipe storage • facility, standby generator, 9,200 feet of twelve inch water mains, dual discharge headers from high service pumps, and certain other improvements and betterments to the existing waterworks system. • Section 3. The City, acting by and through the Board, shall proceed with the construction end installation of said extensions, additions And improvements, and shall enter Into all contracts necessary for such purpose In conformity with the provisions of this Ordinance and of said Act, subject, however, to the foliowing conditions: (a) That approval of the Public Service Commission of Indiana for the making ot said extensions, additions and Improvements, and the Issuance of the required amount of revenue bonds be obtained. (b) That the principal and interest of the bonds issued on account of such extensions, additions and improvements shall be paid solely and exclusively from the revenues of

Star break. In a half-season, Downing had more hits, doubles, triple and runs batted in than he had had in any full season. Suddenly strangers wanted to know what he thought about winning a batting championship, and how this was happening. “I really didn’t know at first,” Downing said. “So I thought about it.” That was his first mistake. He studied every detail in his swing. A motion had become natural after months of work was divided into awkward pieces. When his average started to drop, he thought about slumps that cost him 20 and 30 points in past seasons. It was easier to talk about his new body. He talked about the weight program he started after the cast was taken off his right arm following elbow surgery last year. He lifted weights three to four hours a day, five days a week, bench-pressing as much as 300 pounds. He gained 15 pounds, and weighed 200 at the start of spring training. His upper body was built up so much that his old uniform did not fit. He became known as the Incredible Hulk. He felt like a new person. Downing had decided to lift weights when he was in the hospital. It is not easy for him to stand still anywhere, even in a baseball clubhouse. When he stands talking, he is stretching, rocking back and forth, or swinging a bat. “When I was in the hospital with my arm in a cast, I had nothing to do, nothing to think about,” Downing said. So he read about baseball, and about what the Angels needed to win a pennant. “I had to be considered one of the weak links. I read it, that we lacked a shor-

said waterworks system and ahall not constitute a general obligation of th% City. Section 4. For the purpose ot procuring funds with which to pay the cost of construction and installation of the extensions, additions and improvements to its waterworks, the City shall issue its revenue bonds under and pursuant to the provisions of this Ordinance and said Act, which bonds shall be payable only out ot the special Bond and Interest Redemption Account herein provided for. and shall be designated as “Waterworks Revenue Bonds of 1979". Section 5. Said Waterworks Revenue Bonds of 1979 shall be in a principal amount not exceeding One Million Dollars ($1,000,000) in the denomination ol Five Thousand Dollars ($5,000.00), numbered consecutively from 1 up, dated as of the first day of the month in which said bonds are sold, and shall bear interest at a rate or rates not exceeding seven percent (7%) per annum, the exact rate or rates to be determined by bidding, which interest shall be payable semi-annually on January 1 and July 1 in each year, beginning on July 1, 1980, and shall be evidenced by coupons attached to said bonds. Both bonds and interest coupons shall be payable, at the option of the holder, at the Central National Bank of Greencastle, Indiana, or Merchants National Bank & Trust Company of Indianapolis, Indiana, in lawful money of the United States of America, and said bonds shall mature serially on January 1 in the years and amounts as follows: Years Amounts 1981 '25,000 1982 25,000 1983 30,000 1984 30,000 1985 30,000 1986 35,000 1987 35,000 1988 40,000 1989 40,000. 1990 45,000 1991 50,000 1992 50,000 1993 55,000 1994 60,000 1995 60.000 1996 65,000 1997 75,000 1998 . 80,000 1999 85,000 2000 85,000, The bonds of this issue maturing on January 1, 1990, and thereafter,'‘shall be redeemable at the option of the City on July 1, 1989, or any interest payment date thereafter, in their inverse numerical order, at face value, together with the following premiums: 3% il redeemed on July 1,1989, or thereafter on or before January 1,1992; 2% if redeemed on July 1, 1993, or thereafter on or before January 1,1996; 1% if redeemed on July 1,1996, or thereafter prior to maturity, plus in each case accrued interest to the date fixed for redemption. Notice of such redemption shall be published at least thirty (30) days prior to the date fixed for redemption at least one time In a financial journal or newspaper of general circulation printed and published In the City of Indianapolis, Indiana, and a financial journal of general circulation published In the Borough of Manhattan, City and State of New York. If any of the bonds so to be redeemed are registered, such notice shall also be mailed to the address of the registered holder as shown on the registration records of the City. The notice shall specify the date and place of redemption and the numbers of the bonds called for redemption. The place of redemption may be the place of payment named in the bonds, or otherwise as determined by the City. Interest on the bonds so called for redemption shall cease on the redemption date fixed in said notice if funds are available at the place of redemption to pay the principal of and premium and Interest on the bonds so called for redemption on the data fixed in said nptice and thereafter when presented for payment. Coincidentally with the payment ot the redemption price, the bonds so called for redemption shall be surrendered for cancellation, together with the unmatured interest coupons appurtenant thereto. Section 6. Said bonds shall be signed In the name ot the City by the Mayor, countersigned by the President of the Board, and shall be attested by the Clerk-Treasurer of the City who shall affix the seal of the City to each of said bonds. The Interest coupons attached to said bonds shall be executed by placing thereon the facsimile signatures of the Mayor and President of the Board and said officials, by the signing of said bonds, shall adopt as and for fhelr proper signatures their facsimile signatures appearing on said coupons. In case any officer whose signature appears on the bonds and coupons shall cease to be such officer before the delivery of such bonds, his signature shall nevertheless be valid and sufficient for all purposas the seme as If such officer had remained In office until such delivery. Said bonds shall be negotiable by delivery unless registered. Upon presentation of the bonds at the office of the Clerk-Treasurer In the City of Greencastle, Indiana, said ClerkTreasurer shall register said bonds as to the principal thereof, without charge or expense to the holder. Such registry shall be noted on the bonds, after which no transfer thereof will be valid unless made by the registered owner in person or by his attorney duly authorized, and similarly noted on the bonds, but said bonds may be dlacharged from registry by being In like manner retransferred to bearer, after which they shall be transferable by delivery, but may again be registered as before. The registration of any bond shall not affect the negotiability of the Interest coupons attached thereto, but such coupons shall continue to pass by delivery merely and shall remain payable to bearer. Section 7. The form and tenor of said bon-

ds, the interest coupons to be attached thereto, and the form of registry endorsement thereon, shall be substantially as follows, towit: UNITED STATES OF AMERICA State of Indiana County of Putnam NO. *5,000 CITY OF GREENCASTLE WATERWORKS REVENUE BOND OF 1979 The City of Greencastle, in Putnam County. State of Indiana, for value received, hereby promises to pay to bearer, or it this bond be registered then to the registered holder hereof, solely out of the special revenue fund hereinafter referred to, the principal amount of FIVE THOUSAND DOLLARS on the first day of January, 19 (unless this bond be called for prior redemption and payment provided therefor), and to pay interest thereon from the date hereof until the principal is paid at the rate of percent ( %) per annum, payable semiannually on the first days of January and July in each year, beginning on July 1.1980, upon presentation and surrender of the annexed coupons as they severally become due. Both principal and interest of this bond are payable In lawful money of the United States of America, at the option of the holder, at the Central National Bank of Greencastle, Indiana, or Merchants National Bank & Trust Company of Indianapolis, Indiana. This bond is one of an authorized issue of two hundred (200) bonds of the City ot Greencastle, of like date, denomination, tenor and effect, except as to interest rates and dates ol maturity, in the total amount of One Million Dollars ($1,000,000), numbered consecutively from 1 to 200 inclusive, issued for the purpose of providing funds to pay the cost of construction of extensions, additions and improvements to the municipally owned waterworks of said City, pursuant to an ordinance passed by the Common Council of said City on , 1979, entitled "An Ordinance Concerning The Construction Ot Extensions. Additions And Improvements To The Municipal Waterworks System Of The City Of Greencastle, Indiana, Authorizing The Issuance Of Revenue Bonds To Provide For The Costs Thereof And Matters Connected Therewith", and in strict compliance with the provisions of the governing statutes, particularly Chapter 235 ot the Acts of the General Assembly of the State ol Indiana tor the year 1933, and all acts amendatory thereof or supplemental thereto. The principal and Interest of this bond and all other bonds of said Issue, and any bonds hereafter issued ranking on a parity therewith, are equally and ratably secured by and constitute a charge upon twenty-nine percent (29%) of the gross Income and revenues of said waterworks as the same now exist or may hereafter be improved and extended, which percentage of such income and revenues is to be deposited In a special fund to be known as the "Bond and Interest Redemption Account," which has heretofore been duly created. The City shall not be obligated to pay said bonds or the Interest thereon except from said special fund, and neither this bond nor the issue ot which It is a part shall in any respect constitute a corporate indebtedness of the City within the provisions and limitations of the constitution of the State of Indiana. The bonds ot this issue maturing on January 1, 1990, and thereafter, are redeemable at the option of the City, In whole or In part, on July 1, 1989, or any interest payment date thereafter, in their Inverse numerical order, at face value, together with the following premiums: three percent (3%) If redeemed on July 1.1989, or thereafter on or before January 1, 1992; two percent (2%) if redeemed on July 1,1992, or thereafter on or before January 1, 1996; one percent (1%) If redeemed on July 1,1996, or thereafter prior to maturity; plus, in each case, accrued interest to the date fixed for redemption, provided notice of such redemption shall be given at least thirty (30) days prior to the redemption date by one publication in a financial journal or newspaper of general circulation printed and published in the City of Indianapolis, Indiana, and in a financial journal of general circulation published In the Borough of Manhattan, City and State of New York. Interest on the bonds so called for redemption shall cease on the redemption date fixed in said notice If funds are available at the place of redemption on the redemption date and thereafter when presented for payment. The bonds so redeemed prior to maturity shall be surrendered for cancellation, together with unmatured Interest coupons appurtenant thereto. The City covenants that it will, to the fullest extent permitted by law, fix, maintain and collect an aggregate of rates and charges for the services rendered by said waterworks which will be sufficient to pay all costs of operation and maintenance of said waterworks, to provide a proper and adequate depreciation account, and to create and maintain the sinking fund required for the payment of this Issue of bonds, and any bonds hereafter Issued ranking on a parity therewith, and that It wilt in all other respects faithfully comply with all of the provisions of the governing statutes pursuant to which this bond Is issued. In the event the City shall make any default in the payment of the principal of or interest on this bond, the holder hereof shall have all of the rights and remedies provided by the governing statutes. Including the right to compel the collection of sufficient rates and charges to provide for the payment of this bond and the Interest thereon. This bond and all other bonds of said Issue shall, In the hands of bona fide holders, have all of the qualities of negotiable instruments under the laws of the State of Indiana. This bond may be registered In the name of the owner, In the manner and with the effect provided in aald ordinance, but unless registered shall pass by delivery. The Interest coupons attached hereto shall at aJMtmes pass by delivery. It Is hereby -certified and

tstop and catcher. It really got in deep. “I was just tired of being mediocre. I just felt there was no reason I couldn’t be as good as somebody else. I have the mental qualities. It had to be a physical problem.” It always was. Downing was 5 feet 7 inches and 150 pounds in high school in Anaheim, and he did not make the varsity team until his senior year. In his one season at Cypress (Calif.) Junior College, Downing batted .333, according to a White Sox scouting report. The report was filed by Bill Lentini, a neighbor, and it was accurate. Downing had batted three times that season, with one hit. Downing is convinced he was signed because he could play any position. He was a pitcher until he was 18. He caught a little, and played both the infield and the outfield. His position each season in the minors depended on where there was an opening. He was switched to catcher when the White Sox needed one, and played five seasons in Chicago. His average rose each year, from .178 in 1973 to .284 in 1977, when he was traded home, to the Angels for Bobby Bonds and two young players, Dick Dotson and Thad Bosley, who are now in the minors. The two players who arrived with Downing Chris Knapp and Dave Frost wound up in the starting rotation this season. Downing was determined to improve his average each year. He shared the catching job with Terry Humphrey, then became the fulltime regular last June just after Jim Fregosi had become the manager. With 10 days to go in the season, he was hitting about .270. “I really was obsessed with getting to .285,” Downing said, but instead he finished at .255. It was depressing, and so was the criticism. He was

recited that all acts, conditions and things required to be done precedent to and in the execution, issuance and delivery of this bond have been done and performed in regular and due form as provided by law. IN WITNESS WHEREOF, the City of Green castle, in Putnam County, State of Indiana, has caused this bond to be signed in its corporate name by its duly elected, qualified and acting Mayor, countersigned by the President of the Board of Trustees ot the Department of Waterworks ot said City, its corporate seal to be hereunto affixed and attested by Its duly elected, qualified and acting Clerk-Treasurer, and the Interest coupons hereto attached to be executed by placing thereon the facsimile signatures of said Mayor and President, Board of Trustees, Department of Waterworks, all as of the day of ,1979. CITY OF GREENCASTLE, INDIANA BY Mayor Countersigned: President, Board of Trustees Department of Waterworks ATTEST: Clerk-Treasurer (Interest Coupon) Coupon No. $ On 1. 19 (unless the bond to which this coupon refers is sooner redeemed), the City of Greencastle, Indiana, will pay to bearer, at the option of the holder, at the Central National Bank ot Greencastle, Indiana or Merchants National Bank and Trust Company of Indianapolis, Indiana, out ol its waterworks Bond and Interest Redemption Account. Dollars, in lawful money of the United States of America, being the interest then due on its Waterworks Revenue Bond ot 1979, dated , 1979, No. CITY OF GREENCASTLE, INDIANA BY (Facsimile) Mayor (Facsimile) President, Board of Trustees, Department of Waterworks REGISTRATION ENDORSEMENT This bond can be registered only at the office of the Clerk-Treasurer ol the City of Greencastle, Indiana. No writing shall be permitted hereon except by the Clerk-Treasurer. In Whose Name Date of Registry Registered Clerk-Treasurer Section 8. The Board shall have said bonds and coupons prepared, and the Mayor, President of the Board and Clerk-Treasurer are hereby authorized and directed to execute said bonds and the coupons to be attached thereto In the form and manner hereinbefore provided. The Board Is hereby authorized to aell said bonds at public sale. Priof to the sale ot the bonds, said Board shall cause to be published a notice of sale once each week for two weeks In the Greencastle Banner-Graphic, a newspaper of general circulation published In the City of Greencastle, Indiana, and one time In a newspaper published in the City of Indianapolis, Indiana. The notice may also be published In the Bond Buyer, published In the Borough of Manhattan. City and State of New York. The date fixed for the sale shall not be earlier than seven (7) days after the last ol said newspaper publications. The bond sale notice shall state the time and place of sale, the total amount of bonds, the maximum rate of Interest thereon and limitations as to the number ol Interest rates, the maturities thereof, the purpose lor which the bonds are being Issued, the terms and conditions on which bids will be received and the sale made, and shall set out such other information and terms and conditions of sale as the Board, acting on the advice ot the Waterworks Attorney and bond counsel, shall deem necessary or desirable. No bid tor less than the par value of said bonds, Including accrued interest to the date of delivery, shall be considered. The Board shall have the right to reject any and all bids, and In the event no satisfactory bids are received, the Board shall be authorized to continue the sale from day to day tor a period of thirty (30) days without readvertisement; provided, however, that If said sale be continued no bid shall be accepted which Is lower than the highest bid received at the time fixed for such sale In the bond sale notice. Prior to the delivery of said bonds the Baord shall obtain a legal opinion as to the validity of the bonds from Ice, Miller, Donadio & Ryan, acting as bond counsel for the City, and shall furnish such opinion to the purchasers ol the bonds. The fees of such bond counsel and counsel for the Board shall be considered as part of the cost of the project on account ot which said bonds are issued and shall be paid out of the proceeds ol said bonds. Section 9. In the event It shall be hereafter determined that It is not necessary to Issue all of the bonds authorized by this ordinance, or the Public Service Commission of Indiana shall not approve the Issuance of said total amount of bonds, the Board shall be authorized to sell and deliver a lesser amount of bonds than herein authorized. In which case the bonds not sold or delivered shall be of the last maturity or maturities. The bonds herein authorized, when fully paid for and delivered to the purchaser, shall be the binding special revenue obligations ol the City, payable out of the income and revenues of the waterworks system of said Clfy according to their tenor and effect, and the proceeds derived from the sale ol said bonds shall be and are hereby set aside to the Board for the purpose of paying the cost of construction and Installation of the aforesaid extensions, additions and Improvements of said waterworks and the expenses necessarily Incurred In connection therewith. Including the expenses Incurred In connection with the Issuance and sale ot the bonds, and for the payment of Interest accruing

28, going into the last year of his contract as a weak link. He lifted weights and spent $1,600 on a pitching machine and a batting cage (50 feet long, 9 feet high, 12 feet wide) that he put up in his backyard. He had tried contact lenses once and had not liked them, but he could not see pitches well when he looked out to the side of his glasses. So in spring training, he developed a stance with his left foot planted out toward third base, in a way that his body faces the pitcher. “It’s comfortable,” Downing said. At times recently, Downing has had too many ideas. The more he was asked about hitting, the more he thought about it. The more he thought, the worse it became. “I know what’s wrong,” he said. “I think I’m striking too soon, so my hands are too far in front of me ... Right now I think I should go very wide. That’s the way I feel more comfortable. Maybe I should try it. I start thinking about where my feet were. Used to be, I’d walk up to the plate with my bat and hit. It seems like if I just looked up at the pitcher, or looked out to center field, I’d be ready. I don’t know.” He was afraid this was the start of his long annual slump. “Right now,” he said, “it’s a pivotal time.” In his first time at bat last Tuesday, Downing changed his stance for the first time this season. He stood with his feet parallel to each other and strided toward the hitcher. On the second pitch, he changed again, his feet staying the same but his stride toward third base. On the third pitch, he reverted to his old, open stance. But he had two hits later that night, and his name was back at the top of the list of averages.

on the bonds during the period of construction, if required tor that purpose. The proper officers of the City are hereby authorized and directed to draw all proper and necessary warrants, and to do all acts and things which may be necessary to carry out the provisions of this ordinance. Section 10. Any accrued interest and any premium received at the time of the delivery of the bonds shall be deposited in the Bond and Interest Redemption Account hereinafter referred to. The remaining proceeds from the sale ot the bonds shall be deposited in a bank or banks which are legally designated and qualified depositories for the funds ot the City, in a special account or accounts to be designated as "City ot Greencastle, Waterworks Construction Account", and shall be in the custody of and under the control of the Board. Each of such special accounts shall be deposited, secured, held or invested as provided by the laws relating to the depositing, securing, holding or Invsesting ot public funds, including particularly Chapter 9 of the Acts of 1945. The funds in such special account or accounts shall be expended only for the purpose of paying the cost of the extensions, additions and improvements to said waterworks as herein authorized, the incidental expenses incurred in connection therewith and with the issuance and sale ot bonds, and for the payment ot interest accruing on the bonds during the period of construction, if required tor that purpose. Any balance or balances remaining unexpended In such special account or accounts after the completion of the work, which are not required to meet unpaid obligations incurred in connection with the construction of the work, shall be deposited In the Bond and Interest Redemption Account. Section 11. The income and revenues of the existing waterworks, together with the income and revenue ot ell extensions, additions and improvements thereto and replacements thereof made pursuant to this ordinance, or subsequently, shall be set aside for the use ot the Department of Waterworks and shall be used and applied by said Department as provided in this ordinance and in strict accordance with the provisions ot Chapter 235 of the Acts of 1933, as amended. All of such income and revenues shall be segregated and kept in three special accounts separate and apart from all other lunds ot the City and shall be used and applied in the maintenance and operation of the waterworks. In establishing a depreciation account, and payment of bonds and Interest thereon which by their terms are payable from the revenues of the waterworks in accordance with said ordinances and statutes. Said accounts shall be designated as the "Operation and Maintenance Account", the "Depreciation Account", and the “Bond and Interest Redemption Account". It is expected that the Public Service Commission of Indiana will authorize a new schedule of rates and charges for the Department ol Waterworks. From and after the date on which such new rate schedule becomes effective, the proportion ol the Income and revenues ot said waterworks that shall be paid into the above accounts of said special fund is hereby determined to be as follows: (a) OPERATION AND MAINTENANCE ACCOUNT Fifty-four percent (54%) of said income and revenues of said waterworks shall be set aside Into the Operation and Maintenance Account, and shall bo used to pay the necessary cost of the reasonable and proper operation and maintenance ot the waterworks system, including any taxes required to be paid. The sums so set aside into said account shall be applied exclusively to that purpose until a surplus shall have been accumulated in the Operation and Maintenance Account which shall be equal to the cost of maintaining and operating the waterworks system during the remainder of the calendar, operating or fiscal year then current, and the cost ot maintaining and operating the waterworks system during the calendar, operating or fiscal year then next ensuing. Any excess over such surplus may be transferred by the Board of Trustees of the Department of Waterworks to the Depreciation Account or the Bond and Interest Redemption Account hereinafter referred to. (b) DEPRECIATION ACCOUNT. Seventeen percent (17%) ot said Income and revenues of said waterworks shall be set aside into the Depreciation Account, and shall be expended In making good depreciation in the waterworks. or In new construction, extensions, betterments or additions to the property of the waterworks. Any accumulations In such Depreciation Account not required for Immediate use may be Invested by the Board of Trustees of the Department of Waterworks, in obligations of the United States of America to the extent permitted by law, and If so invested the Income from the investment shall accrue and be carried in the Depreciation Account. Said account shall not be used for any purpose other than as herein provided (c) BOND AND INTEREST REDEMPTION ACCOUNT. Twenty-nine percent (29%) of said income and revenues of the waterworks shall, from month to month as the same shall accrue and be received, be set apart and paid Into the special account Identified as the Bond and Interest Redemption Account. The funds in said account shall, to the extent required tor such purposes, be used to pay the Interest on and principal of the bonds issued pursuant to this ordinance, and any bonds hereafter Issued ranking on a parity therewith. If and when a surplus shall be created In said Bond and Interest Redemption Account which shall be in excess of the Interest and principal of the bonds yet to be paid during the calendar, operating or fiscal year then current, together with the amount of interest on and principal of the bonds payable during the calendar, operating or fiscal year then nexl ensuing, then the Board of Trustees ol the Department of Waterworks may transfer any excess over such surplus to either the Operation and Maintenance Account or to the Depreciation Account, or such excess may be used by said Board for the purpose ot redeeming out-

standing bonds at a price not to exceed the then applicable redemption price. No further payments need be made into the Bond and Interest Redemption Account when the funds therein equal or exceed the amount of the principal of the bonds then outstanding and interest thereon to the maturity date thereof. All of the funds of said several accounts shall be deposited in lawful depositories of the City, and shall thereafter be continuously held and secured or invested as provided by the laws of Indiana relating to the depositing, securing, holding or investing of public funds. In no event shall any of the income and revenues of said waterworks be transferred to the City’s general fund, or any other fund of the Civil City, or used for any purpose not authorized by this ordinance so long as any of the bonds Issued pursuant to the provisions of this ordinance shall be outstanding, but all of said income and revenues shall be used for the benefit of said waterworks. Section 12. The City shall keep proper books and records of account, separate from all of its other books and records of account, in which complete and correct entries shall be made showing all revenues collected from said waterworks and deposited in the special accounts hereinbefore established and all disbursements made therefrom and all transactions relating to said waterworks. There shall be prepared and furnished to the original purchaser of the bonds and, upon written request, to any holder of the bonds, not more than ninety (90) days after the close ot each six (6) months fiscal period, complete operating and income statements of the waterworks, in reasonable detail covering said six (6) months period, and not more than ninety (90) days after the close of each fiscal year, complete financial statements of the waterworks, covering such fiscal year, certified by the affidavit of at least two of the members of the Board, or the Auditor of said Department, or said annual financial statements shall be prepared by an Independent certified public accountant employed for the purpose of making an accounting study of the records of said waterworks and preparing such statements. Copies of all such statements shall at all times be kept on file In the office of the Clerk-Treasurer of the City. Any holder of the bonds shall have the right at all reasonable times to inspect the waterworks and the records, accounts and data of the City or the Board relating thereto. Section 13. The City, by and through the Board, shall, to the fullest extent permitted by law. establish, maintain and collect just and equitable rßtes and charges for the use of and the service rendered by said waterworks which will provide revenues at least sufficient to pay all costs of operation and maintenance of the waterworks, to provide a proper and adequate depreciation account, and to pay, when due, the principal of and interest on all of the outstanding bonds payable from the revenues of the waterworks as the same become due. and provide a surplus or margin of ten percent (10%) of the principal and interest due each year, which shall be cumulative. So long as any of the bonds herein authorized are outstanding, none of the facilities and service afforded by said waterworks shall be furnished without a reasonable and just charge being made therefor. The reasonable value of any facility or service rendered to the City, or to any department, agency or Instrumentality thereof, including the use of water tor hydrants for fire protection or for any other purpose, shall be charged against the City and shall be paid for as the charges accrue, and the revenue so received shall be deemed to be revenue derived Irom the operation of the waterworks and shall be used and accounted for In the same manner as other revenues derived from the operation of the waterworks. Section 14. The City reserves the right to authorize and issue additional bonds, payable out of the revenues of the waterworks, ranking on a parity with the bonds authorized by this ordinance, for the purpose of financing the cost of future additions, extensions and improvements to the waterworks, or to refund any outstanding bonds, subject to the following conditions: (1) The interest on and principal of all bonds payable from the revenues of the waterworks shall have been paid to date in accordance with the terms thereof, and all required payments into the Bond and Interest Redemption Account shall have been made In accordance with the provisions of this ordinance. (b) (I) The amount of Income and revenues of the waterworks allocated by Section 11 (c) of this ordinance to and deposited in the Bond and Interest Redemption Account In the calendar year Immediately preceding the Issuance of any such additional parity bonds shall be not less than one hundred twenty-five percent (125%) of the maximum annual Interest and principal requirements of the then outstanding bonds and the additional parity bonds proposed to be issued; or (li) Prior to the issuance of said parity bonds. the proportion of the income and revenues allocated to said Bond and Interest Redemption Account shall be increased sufficiently so that said increased proportion applied to the previous calendar year's gross revenues would have produced income and revenues in said Bond and Interest Redemption Account lor said year equal to not less than one hundred twenty-five (125%) of the maximum annual Interest and principal requirements of all bonds payable Irom the revenues of the waterworks Including the additional parity bonds proposed to be Issued; or (III) Prior to the issuance of said parity bonds, the water rates and charges shall be increased sufficiently and the proportion of income and revenues allocated to said Bond and Interest Redemption Account Increased sufficiently so that said Increased water rates and charges applied to the previous calendar year's operations would have produced Income and revenues In an amount so that the proportion allocated to said Bond and Interest Redemption Account tor said year would have

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BRIAN DOWNING: Leads AL

equaled not less than one hundred twentyfive percent (125%) of the maximum annual interest and principal requirements of all bonds payable from the revenues of the waterworks including the additional parity bonds proposed to be issued. (iv) Provided, however, that if the bonds being issued are to refund outstanding bonds, the parity tests in this subsection shall be applied to either the refunding bonds or the bonds to be refunded, but not to both. (v) For purposes of this subsection, the records of the waterworks shall be analyzed and all showings shall be prepared by an independent certified public accountant retained by the City for that purpose. (c) To the extent required by law. the issuance of the proposed additional parity bonds and any necessary increase in water rates and charges shall have been approved by the Public Service Commission df Indiana, or any successor body vested by law with authority to approve bonds and water rates and charges ot municipal waterworks. (d) The principal of any additional parity bonds shall be payable annually on January 1, and the interest payable semi-annually on January 1 and July 1, In the years in which such principal and interest are payable Section 15. If. when the bonds issued hereunder shall have become due and payable in accordance with their terms or shall have been duly called lor redemption or irrevocable Instructions to call the bonds for redemption shall have been given, and the whole amount of the principal and the interest and the premium, if any, so due and payable upon all of the bonds and coupons then outstanding shall be paid; or (1) sufficient moneys, or (2) direct obligations, of. or obligations the principal of and interest on which are unconditionally guaranteed by. the United States of America, the principal of the Interest on which when due will provide sufficient moneys, or (3) time certificates of deposit fully secured as to both principal and interest by obligations of the kind described in (2) above of a bank or banks the principal of and interest on which when due will provide sufficient moneys, shall be held in trust for such purpose, and provision shall also be made for paying all fees and expenses for the redemption, then and in that case the bonds issued hereunder shall no longer be deemed outstanding or entitled to the pledge of the revenues of the City's waterworks system. Section 16. For the purpose of further safeguarding the interests of the holders of the bonds, it is specifically provided as follows: (a) All construction contracts shall be let to responsible contractors who shall be required to furnish construction bonds running to the City ot Greencastle. Indiana, in an amount equal to one hundred percent (100%) of the amount of such contracts, to insure the completion of such contracts in accordance with their terms, and such contractors shall be required to carry such employer's liability and public liability insurance as are required under the laws of the State of Indiana in the case of public contracts. (b) The extensions, additions and improvements shall be contracted for and constructed to the approval of Ronald L. Bonar & Associates, Inc., now employed by the Board, or such other consulting engineers as may hereafter be employed by said Board. All estimates for work done and material furnished shall first be checked by the consulting engineers before being approved by the Board. (c) The Board shall, at all times, maintain said waterworks in good condition and operate the same in an efficient manner and at a reasonable cost. (d) so long as any of the bonds herein authorized are outstanding, insurance shall be carried on the insurable parts of the waterworks of a kind and in an amount such as is usually carried by private companies engaged in a similar type of business All insurance shall be placed with responsible insurance companies qualified to do business in the State ot Indiana, and any insurance proceeds collected shall be used in replacing the property destroyed or damaged, or if not so used shall be deposited In the Bond and Interest Redemption Account. (e) So tong as any of the bonds herein authorized are outstanding, the City shall not. either directly or through the Board, mortgage. pledge or otherwise encumber its waterworks or any part thereof, and shall not sell, lease or otherwise dispose of any portion thereof except such equipment which may become worn out. obsolete, or unnecessary for use; not. except as provided in Section 14 hereof, shall the City execute or issue any additional bonds or other obligations pledging any portion of the revenues of said waterworks unless the same be made subordinate and junior in all respects to the bonds herein authorized, but the City shall have the right to refund any outstanding bonds by the issuance of bonds having like priority as the bonds refunded. (f) The provisions of this ordinance shall be construed to create a trust in the proceeds derived from the sale of the bonds herein authorized, for the uses and purposes herein set forth, and so long as any of said bonds are outstanding the provisions of this ordinance shall also be construed to create a trust in the fixed proportion ol the revenues of the waterworks herein directed to be set apart and paid into the Bond and Interest Redemption Account for the uses and purposes ot said account as in this ordinance set forth. (g) The provisions of this ordinance shall constitute a contract by and between the City of Greencastle. Indiana and the holders ot the bonds herein authorized, all ol the terms of which shall be enforceable In law or In equity, and after the Issuance of the bonds this ordinance shall not be repealed or amended in any respect which will adversely affect the rights and Interests of the holders ot said bonds, nor shall the Common Council ot the City adopt any taw. ordinance, or resolution in any way adversely affecting the rights ol such

holders, or abolishing or curtailing the powers of the Board or the Department of Waterworks, so long as any of the bonds or the interest thereon remain unpaid The holders of the bonds shall have all of the rights, remedies and privileges, either expressly set torth in the provisions of Chapter 235 of the Acts of the Indiana General Assembly for the year 1933, and all acts amendatory thereof and supplemental thereto, or implied therein, including the right to compel the collection of sufficient rates and charges to provide for the payment of the bonds issued hereunder ana the interest thereon Section 17 Subject to the terms and provisions contained in this section, and not otherwise, the holders of not less than sixtysix and two-thirds percent (66-2/3%)- in aggregate principal amount of the bonds issued pursuant to this ordinance and then outstanding shall have the right from time to time, anything contained in this ordinance to the contrary notwithstanding, to consent to and approve the adoption by the Common Council of the City of Greencastle of such ordinance or ordinances supplemental hereto, as shall be deemed necessary or desirable by the City of Greencastle for the purpose of modifying, altering, amending, adding to or rescinding in any particular any of the terms or provisions contained in this ordinance, or in any supplemental ordinance; provided, however, that nothing herein contained shall permit or be construed as permitting; (a) An extension of the maturity of the principal of or interest on any bond issued pursuant to this ordinance; or (b) A reduction in the principal amount of any bond or the redemption premium or the rate of interest thereon; or (c) The creation ol a lien upon or a pledge of the revenues of the waterworks ranking prior to the pledge thereof created by this- ordinance; or (d) A preference or priority ot any bond or bonds issued pursuant to this ordinance over any other bond or bonds is?ued p ■ suant 'o the provisions ot this ordinance: or (e) A reduction in the aggregate principal amount of the bonds required for consent to such supplemental ordinance. The holders of not less than sixty-six and twothirds percent (66-2(3%) in aggregate principal amount ol the bonds outstanding at the time of adoption of such supplemental ordinance shall have consented to and approved the adoption thereof by written instrument to be maintained on tile in the office of the Clßrk-TreßSurer of the City of Greencastle. No holder of any bond issued pursuant to this ordinance shall have any right to object to the adoption of such supplemental ordinance or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the adoption thereof, or to enjoin or restrain the Common Council of the City of Greencastle from adopting the same, or from taking any action pursuant to the provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions ol this section, this ordinance shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this ordinance of the City of Greencastle and all holders of bonds issued pursuant to the provisions ot this ordinance then outstanding, shall thereafter be determined exercised and enforced in accordance with this ordinance, subject to all respects to such modifications and amendments. Notwithstanding anything contained in the foregoing provisions of this ordinance, the rights Bnd obligations of the City anu ot the holders of the bonds authorized by this ordinance, and the terms and provisions of the bonds and this ordinance. or any supplemental ordinance may be modified or altered in any respect with the consent' ot the City of Greencastle and the consent ot the holders of ah tnq bonds issued pursuant to this ordinance then outstanding Section 18 All ordinances and parts ot ordinances in conflict herewith are hereby repealed Section 19. This ordinance shall be in' full force and effect from and after its passage and signing by the Mayor PASSED AND ADOPTED by the Common Council by the City of Greencastle, Indiana on the 23rd day of July. 1979. C. Clifford Frazier. Mayor Presiding Officer ATTEST: Jane Harlan, Clerk-Treasurer PRESENTED by me to the Mayor of the City of Greencastle. Indiana on the 23rd day'of July, 1979, at the hour of 7:30, P.M Jane Harlan. Clerk-Treasurer This ordinance approved and signed by the on the 23rd day of July. 1979 at the hour'of 9:00, P M C. Clifford Frazier. Mayor CERTIFICATION The undersigned, Jane Harlan, CiqrkTreasurer of the City ot Greencastle. Indiana, does hereby certify that the foregoing ordinance entitled An Ordinance Concerning The Construction Ol Extensions, Additions And Improvements To The Municipal Waterworks System Ol The City Ot Greencastle. lndiana. Authorizing The Issuance Of Revenue Bonds To Provide For The Costs Thereof And Matters Connected Therewith is a true and correct copy ot such ordinance as passed and „ adopted by the Common Council ot the City of Greencastle, Indiana, at a duly convened meeting thereof, on July 23. 1979. and that said ordinance is now in full force and effect and is of record in the office of the undersigned. WITNESS my hand at the City of Greencastle. Indiana, this 24th day ot July. 1979 I affirm, under the penalties tor perjury that the loregoing representations are true tofhe best of my knowledge, information and behel