Specifications include, but are not limited to: The Installment Purchase Agreement is issued for the purpose of purchasing five (5) new school buses. The Installment Purchase Agreement will be in the form of an agreement prepared by Thrun Law Firm, P.C., and approved by the Issuer’s Board of Education among Midwest Transit Equipment, Inc., Marshall, Michigan (the “Vendor”), the Issuer, and the Bank, dated the date of delivery. Annual installments of principal and interest for a period of five (5) years will be due beginning July 30, 2020 based upon a 360-day year, 30-day month as set forth in the attached principal payment schedule. The Installment Purchase Agreement shall bear interest at a rate not exceeding five percent (5%) per annum. If the Bank requires the use of a paying agent for this issue, the paying agent fees, if any, are to be paid by the Bank.