06-14-2021 Council Packet - Laserfiche WebLink

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LN140-125-725788.v1 3 1.04. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell the Bonds pursuant to the Act, in the total principal amount of $1,815,000, originally dated July 15, 2021, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1 upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows: Year Amount Year Amount 2023 $ 2028 $ 2024 2029 2025 2030 2026 2031 2027 2032 1.05. Optional Redemption. The City may elect on February 1, 2029, and on any day thereafter to prepay Bonds due on or after February 1, 2030. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant’s interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. [1.06. Mandatory Redemption; Term Bonds. TO BE COMPLETED IF TERM BONDS ARE REQUESTED: The Bonds maturing on February 1, 20___, February 1, 20___, and February 1, 20___ shall hereinafter be referred to collectively as the “Term Bonds.” The principal amount of the Term Bonds subject to mandatory sinking fund redemption on any date may be reduced through earlier optional redemptions, with any partial redemptions of the Term Bonds credited against future mandatory sinking fund redemptions of such Term Bonds in such order as the City shall determine. The Term Bonds are subject to mandatory sinking fund redemption and shall be redeemed in part at par plus accrued interest on February 1 of the following years and in the principal amounts as follows:] Sinking Fund Installment Date February 1, 20___ Term Bond Principal Amount ____________________ * Maturity February 1, 20___ Term Bond Principal Amount ____________________ * Maturity February 1, 20___ Term Bond Principal Amount ____________________ * Maturity