Series V Bonds Sample Clauses

Series V Bonds. The Company proposes to issue $30,000,000 aggregate principal amount of the Series V Bonds, to be dated the date of their authentication, to mature, with all outstanding principal remaining due and payable, on October 31, 2049 (the “Maturity Date”), to bear interest from and including their date of authentication (except as otherwise provided in the “Indenture” (as hereinafter defined)) at 4.42% per annum, through but excluding the Maturity Date, such interest payable in arrears on January 30th, April 30th, July 30th and October 30th in each year and on the Maturity Date, beginning January 30, 2020, and to be issued as fully registered bonds without coupons under an Indenture of Mortgage (the “Original Indenture”) dated as of July 1, 1961, between the Company (successor to Artesian Resources Corporation, formerly named “Artesian Water Company”) and Wilmington Trust Company (the “Trustee”), as Trustee, as heretofore supplemented and amended, and as further supplemented by a Twenty-Fourth Supplemental Indenture (the “Twenty-Fourth Supplemental Indenture”) dated as of December 17, 2019, between the Company and the Trustee, providing for the creation and issuance of the Series V Bonds. The Twenty-Fourth Supplemental Indenture shall be substantially in the form of the draft attached hereto as Exhibit A. The Original Indenture as heretofore supplemented and amended, and as further supplemented by the Twenty-Fourth Supplemental Indenture, is hereinafter referred to as the “Indenture.”

Series V Bonds