2012-105 Council Resolution - Laserfiche WebLink

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• • Year Amount Year Amount *Term Bond 2015* $290,000 2020 $160,000 2016 230,000 2021 160,000 2017 225,000 2022 160,000 2018 230,000 2023 165,000 2019 230,000 2024 165,000 $1,580,000 of the Bonds (the "Interchange Portion ") maturing in the amounts and on the dates set forth below are being issued to finance certain interchange improvements described in the resolution authorizing issuance of the Bonds (the "Interchange Improvements "): Year Amount Year Amount 2015* $150,000 2020 $160,000 2016 155,000 2021 160,000 2017 155,000 2022 160,000 2018 155,000 2023 165,000 2019 155,000 2024 165,000 $435,000 of the Bonds (the "Refunding Portion ") maturing in the amounts and on the dates set forth below are being issued to refund the City's $2,090,000 General Obligation Improvement and Refunding Bonds, Series 2003A, dated December 1, 2003 (the "Refunded Bonds "): Year Amount Year Amount *Term Bond 2015* $140,000 2018 $75,000 2016 75,000 2019 75,000 2017 70,000 1.04. Optional Redemption. The City may elect on February 1, 2021, and on any day thereafter to prepay Bonds due on or after February 1, 2022. 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. 1.05. Term Bonds; Mandatory Redemption. The Bonds maturing on February 1, 2015 shall hereinafter be referred to collectively as the "Term Bonds." The principal amounts of the Tenn 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 by lot at par plus accrued interest on the sinking fund installment dates and in the principal amounts as follows: 412159v2 SJB LN140 -108 3