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NOTICE OF PUBLIC HEARING Notice is hereby given that the Indiana Finance Authority (the "Issuer") will hold a public hearing on August 17, 2010, at 10:00 a.m. EDT in the office of the Issuer at One North Capitol, Suite 900, Indianapolis, Indiana, regarding a proposal by American Water Capital Corp., which is a Delaware corporation (the "Borrower") and an affiliate of Indiana-American Water Company, Inc, an Indiana corporation, (the "Operating Company"), to the Issuer to issue its Water Facilities Revenue Bonds, Series 2010 (American Water Capital Corp. Project) (the "Bonds") in an aggregate principal amount not to exceed $25,000,000. The proceeds of the Bonds will be loaned to the Borrower for the purpose of financing in part the following improvements and renovations at water storage, treatment and distribution facilities owned and operated by the Operating Company for the purpose of furnishing water for domestic, industrial, irrigation, institutional, public fire protection or other purposes in the following areas of the State of Indiana: (a) in or near the geographical boundaries of Warsaw, Indiana, construction of a new source of supply and water treatment facility on approximately 70 acres to be located at or in the vicinity of 2420 Hidden Lake Road, Warsaw, Indiana 46580, which upon completion will replace the existing source of supply and water treatment facility in Warsaw, Indiana; (b) in or near the geographical boundaries of Ogden Dunes, Indiana, improvements and renovations to the Northwest Ogden Dunes Water Treatment Plant, located on approximately 24 acres at or in the vicinity of 84 Diana Road, Portage, Indiana 46369, including, but not limited to, renovations and upgrades throughout the plant, including, but not limited to, replacing aged and obsolete filter components, including, but not limited to, filters under drains and filter media, and installation of an air scour system for the filter backwash process for all filters at the plant; (c) in or near the geographical boundaries of Kokomo, Indiana, improvements and renovations to the Kokomo Reservoir, located on approximately 590 acres at or in the vicinity of County Road 100N and County Roads 400E and 700E, Kokomo, Indiana, including, but not limited to, stabilization and improvement of the earthen dam embankments and mitigation against continued potential for erosion; and (d) in or near the geographical boundaries of Muncie, Indiana, improvements and renovations to the Muncie Prairie Creek Reservoir, located on approximately 950 acres at or in the vicinity of County Road 322S and County Road 575E, Muncie, Indiana, including, but not limited to, stabilization and improvement of the earthen dam embankments and mitigation against continued potential for erosion (clauses (a) through and including (d), collectively, the "Project"). The Project will be owned and operated by the Operating Company. The Bonds will be issued by the Issuer pursuant to Indiana Code Section 4-4-10.9 and 4-4-11 et seq., known as the "Indiana Finance Authority Law" as supplemented and amended, and a resolution proposed for adoption by the members of the Issuer. The Bonds will not be in any respect general obligations of the Issuer, the State of Indiana, or any political subdivision thereof, but will be special, limited obligations of the Issuer as the principal of, premium, if any, and interest on the Bonds will be payable solely from the revenues and receipts derived from the repayment of the loan by the Borrower. The Bonds will not be payable in any manner from revenues raised by taxation. The Bonds shall not constitute a debt, liability or obligation of the Issuer, the State of Indiana or any political subdivision thereof, or a pledge of the faith and credit or taxing power of any of them, and shall be payable only as aforesaid. The public hearing is being held pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended, and Indiana Code 4-4-11-17(c). The public is invited to comment on any of the matters herein noted, and all taxpayers, residents or interested parties who appear will be given a reasonable opportunity to express their views, both orally and in writing, on the proposed plan of financing for the Project and other matters relating to the Bonds. Written comments may also be submitted to the Issuer through the Public Hearing Officer at One North Capitol, Suite 900, Indianapolis, Indiana 46204 until 5:00 p.m. EDT, August 16, 2010. Notice dated August 3, 2010. Indiana Finance Authority By: Cindy Herron, Public Hearing Officer j30
