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Year Interest Rate Year Interest Rate <br />2017 <br />2018 <br />2019 <br />2020 <br />2021 <br />2022 <br />2023 <br />2024 <br />True interest cost: <br />2025 <br />2026 <br />2027 <br />2028 <br />2029 <br />2030 <br />2031 <br />1.03. Purchase Contract. The sum of $ , being the amount proposed by the Purchaser in <br />excess of $3,608,550, shall be credited to the accounts of the Debt Service Fund hereinafter created or <br />deposited in the accounts of the Construction Fund hereinafter created, as determined by the Finance <br />Director of the City in consultation with the City's municipal advisor. The Finance Director is directed to <br />deposit the good faith check or deposit of the Purchaser, pending completion of the sale of the Bonds, and <br />to return the good faith deposits of the unsuccessful proposers. The Mayor and City Administrator are <br />directed to execute a contract with the Purchaser on behalf of the City. <br />1.04. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell the <br />Bonds pursuant to the Municipal Debt Act and the Abatement Act (collectively, the "Act") in the total <br />principal amount of $3,645,000, originally dated May 28, 2015, in the denomination of $5,000 each or <br />any integral multiple thereof, numbered No. R-1, upward, bearing interest as above set forth, and <br />maturing serially on February 1 in the years and amounts as follows: <br />Year Amount Year Amount <br />2017 <br />2018 <br />2019 <br />2020 <br />2021 <br />2022 <br />2023 <br />2024 <br />2025 <br />2026 <br />2027 <br />2028 <br />2029 <br />2030 <br />2031 <br />(a) $3,150,000 of the Bonds (the "Street Reconstruction Bonds"), maturing on <br />February 1 in the years and amounts set forth below, will be used to fmance the Street <br />Reconstruction: <br />459994v1 JAE LN140-115 <br />3 <br />