Resolutions - Jersey City

(No GI-1 $2,000,000UNITED STATES OF AMERICASTATE OF NEW JERSEYCOUNTY OF HUDSONCITY OF JERSEY CITYGENERA IMPROVEMENT BOND(Qualified Pursuant to the Provisions of the Municipal Qualifed Bond Act,P.L. 1976, c.38, as amended)DATE OF ORIGINAL ISSUE: (September, 2009)CITY OF JERSEY CITY, in the County of Hudson, New Jersey (the "City") herebyacknowledges itself indebted and for value received hereby promises to pay to THE HUDSONCOUNTY IMPROVEMENT AUTHORITY (the "Improvement Authority") c/o The Bank ofNew York Mellon (the "Trustee") the following principal amounts on the dates set forth in thetable below:Year20112012201320142015201620172018Principal AmountYear2019202020212022202320242025Principal Amountand to pay interest on such principal amounts from the DATE OF ORIGINAL ISSUE of thisBond until payment in full at the interest rates per anum communcated to it frpm time to timeby the Trustee. Such interest rates shall be calculated from time to time by the Administrator ofthe Essential Purose Pooled Governental Loan Program of the Improvement Authority or bythe Trustee, as appropriate, in accordance with the provisions of Section 603 of the Resolution,as such term is hereinafter defined, and shall be the interest rate necessar to collect an amountwhich is sufficient to pay the proportionate share (as defined in the Resolution) ofinterest ontheImprovement Authority's "Essential Purose Pooled Governental Loan Program Bonds, Series1986", dated July 15, 1986 (the "Program Bonds") (including interest at the "Ban Rate", asapplicable, as calculated in accordance with the provisions of a Letter of Credit andReimbursement Agreement (as such terms are referred to in the Resolution or in the Letter ofCredit and Reimbursement Agreement)) and issued pursuant to the terms of a resolution of theImprovement Authority, duly adopted July 15, 1986, entitled, "Resolution Authorizing theIssuance of Essential Purose Pooled Governenta Loan Program Bonds of The HudsonCounty Improvement Authority", as amended and supplemented (the "Resolution"), to pay aproportionate share of Program Costs (as defined in the Resolution) and a sufficient additionalamount to insure that the pricipal amount of Program Bonds issued to pay the Costs of Issuance37902-003 356495.1