NOTICE OF ENACTMENT AND SUMMARY OF MUNICIPAL ORDER AN ORDER OF THE CITY OF RICHMOND, KENTUCKY, RELATING TO AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF THE CITY OF RICHMOND, KENTUCKY EDUCATIONAL FACILITIES REFUNDING REVENUE BONDS (SETON CATHOLIC SCHOOL PROJECT). SERIES 2014, DATED THE DATE OF DELIVERY, IN THE AGGREGATE PRINCIPAL AMOUNT OF $4,250.000. Christian L. Juckett, hereby certify that I am an attorney Licensed in the Commonwealth of Kentucky and that I prepared the follwing Summary of a municipal order, the title of which is set forth above. (Signed) Christian L. Juckett. As required by KRS 103.210, 1 hereby certify that a municipal order, the title of which is the foregoing, was enacted by the City Commission of the City of Richmond, Ky, at a regular meeting on December 9, 2014, and that the following is a summary of said municipal order: A. Authorizes and approves the issuance of the City of Richmond, Ky, Educational Facilities Refunding Revenue Bonds, Series 2014 (Seton Catholic School Project), in the principal amount of $4,250,000 (the "Bonds") for the purpose of financing the cost to refund a portion of the Lexington-Fayette Urban County Government Refunding Revenue Note, Series 2009B (Roman Catholic Diocese of Lexington Project), dated December 30, 2009. B. Authorizes and approves the execution of (1) a Loan Agreement, whereby the proceeds of the Bonds will be lent by the City to the St. Elizabeth Ann Seton Parrish (the "Borrower"), and whereby the Bonds will be retired from the proceeds of loan payments to be made by the Borrower; and (2) a Trust Indenture from the City to Kentucky Bank, which includes an assignment by the City to the Bank of all rights of the City in and to the Loan Agreement C. Provides that the maximum rate of interest on the Bonds shall not exceed ten percent (10%) per annum and authorizes the Borrower and the Bank to make procedures for the disbursement of the Bond proceeds. D. Authorizes the Mayor and other City officials to take any other necessary action, including executing the appropriate arbitrage certifications, to effect the issuance and delivery of the Bonds. E. Provides that the Bonds will not be a general obligation of the City, but will be payable solely out of the revenues and proceeds of the Borrower, including loan payments received under the Loan Agreement. F. Provides that the municipal order shall be effective upon the publication of this Notice of Enactment and Summary of Municipal Order. (Signed) Lisa Cassity, City Clerk.