City of Nappanee

NOTICE OF DETERMINATION TO ISSUE

BONDS OF THE CITY OF NAPPANEE, INDIANA

    Taxpayers of the City of Nappanee, Indiana ("City") are notified that the Common Council did, on October 2, 2023, adopt an ordinance authorizing the issuance of bonds of the City in an aggregate amount not to exceed Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000) for the purpose of providing funds for the costs of the construction of certain road and sidewalk infrastructure, together with all necessary appurtenances, related improvements and equipment and to pay the costs of issuance of such bonds, including a municipal bond insurance premium, if necessary.  The bonds are to bear interest at a rate or rates not to exceed six percent (6%) per annum (the exact rate or rates to be determined by bidding or negotiation with the purchaser of the bonds), are to mature semiannually on February 1 and August 1 of each year with a final maturity no later than February 1, 2034 and are to be payable from property taxes levied and collected on all taxable property in the City.

    Dated October 6 and October 13, 2023.

                                          CITY OF NAPPANEE, INDIANA

 /s/ Jeff Knight, Clerk-Treasurer

                                          City of Nappanee, Indiana

10-6,13 hspaxlp