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hereby accepted, the proposal being to purchase the Bonds at a price of $5,826,549.71 (paramount <br />of $5,410,000, plus a premium of $455,265.25 less underwriter's discount of $38,715.54), for <br />Bonds bearing interest as follows: <br />Year of <br />Interest <br />Year of <br />Interest <br />Maturity <br />Rate <br />Maturity <br />Rate <br />2024 <br />5.00% <br />2031 <br />5.00% <br />2025 <br />5.00 <br />2032 <br />5.00 <br />2026 <br />5.00 <br />2033 <br />4.00 <br />2027 <br />5.00 <br />2034 <br />4.00 <br />2028 <br />5.00 <br />2036* <br />4.00 <br />2029 <br />5.00 <br />2038* <br />4.00 <br />2030 <br />5.00 <br />*Tenn Bond <br />2.03. Purchase Contract. Any amount paid by the Purchaser over the minimum purchase <br />price shall be credited to the Debt Service Fund hereinafter created, or deposited in the accounts in <br />the Construction Fund hereinafter created, as determined by the City Clerk after consultation with the <br />City's municipal advisor. The City Administrator is directed to retain the good faith deposit of the <br />Purchaser, pending completion of the sale of the Bonds. The Mayor and City Clerk are authorized <br />to execute a contract with the Purchaser on behalf of the City, if requested by the Purchaser. <br />2.04. Terms and Principal Amount of Bonds. The City will forthwith issue and sell the <br />Bonds pursuant to the Improvement Act and the Utility Act (collectively, the "Act"), in the total <br />principal amount of $5,410,000, originally dated the date of delivery, in fully registered form and <br />in denominations of $5,000 each or any integral multiple thereof, numbered No. R-1 and upward, <br />bearing interest as above set forth, and maturing serially on February 1 in the years and amounts <br />as follows: <br />Year <br />Amount <br />Year <br />Amount <br />2024 <br />$125,000 <br />2031 <br />$495,000 <br />2025 <br />370,000 <br />2032 <br />515,000 <br />2026 <br />385,000 <br />2033 <br />545,000 <br />2027 <br />405,000 <br />2034 <br />565,000 <br />2028 <br />430,000 <br />2036* <br />315,000 <br />2029 <br />450,000 <br />2038* <br />340,000 <br />2030 <br />470,000 <br />*Term Bond <br />As may be requested by the Purchaser, one or more term Bonds (the "Term Bonds") may <br />be issued having mandatory sinking fund redemption and final maturity amounts conforming to <br />the foregoing principal repayment schedule, and corresponding additions may be made to the <br />provisions of the applicable Bond(s). <br />LA515-123-868187A <br />