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(Form of Note - Reverse Side) <br /> <br /> THE CITY OF UNIVERSITY CITY, MISSOURI <br />TAX INCREMENT REVENUE ANTICIPATION NOTE, <br /> <br /> This Note is issued by the City in the principal amount of <br /> Dollars ($ ) <br />for the purpose of paying certain Eligible Redevelopment Project <br />Costs (as that term is defined in the Redevelopment Agreement <br />hereinafter identified) incurred in the installation of certain <br />improvements including <br /> <br /> [Insert improvements to which this Note <br />pertains] <br />which are to be constructed and installed in conjunction with a <br />certain redevelopment project approved by City Ordinance No. <br /> passed and adopted by the City Council on 1996 <br />(the "Approving Ordinance") in conjunction with the development <br />of a grocery store and retail center development within that <br />certain redevelopment area designated by the City in the <br />Approving Ordinance (the "Area"), all as set forth in the <br />Approving Ordinance and in a certain redevelopment agreement <br />dated as of , 1996 (the "Redevelopment <br />Agreement") approved in Ordinance No. , passed and adopted <br />by the City Council on , 1996 and in accordance with the <br />Real Property Tax Increment Allocation Redevelopment Act <br />(Sections 99.805 through 99.865 of Missouri Revised Statutes <br />1994, as amended (the "TIF Act"). <br /> <br /> The City has assigned and pledged all right, title and <br />interest of the City to certain incremental tax revenues which <br />the City is entitled to receive pursuant to the TIF Act and <br />deposited from time to time in the City's special allocation fund <br /> (the "Special Allocation Fund") created by City Ordinance No. <br /> passed and adopted by the City Council on , <br />1996, (the "Fund Ordinance") to pay the principal of and interest <br />on this Note at maturity or upon redemption prior to maturity. <br />Reference is hereby made to the Fund Ordinance and the <br />Redevelopment Agreement for a further description of the <br />incremental tax revenues so pledged~ <br /> <br /> This Note is a special limited obligation of the City and is <br />payable solely from those payments in lieu of taxes (as that term <br />is defined in section 99.805(7) of the TIF Act) attributable to <br />the increase in the current equalized assessed valuation of each <br />taxable lot, block, tract, or parcel of real property in the Area <br />over and above the certified total initial equalized assessed <br />value (as that term is used and described in sections 99.845.1 <br /> -26 - <br /> <br />STL-535046 <br /> <br /> <br />