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Year of <br />Maturity <br />Interest <br />Rate <br />Year of <br />Maturity <br />Interest <br />Rate <br />2027 <br />5.00% <br />2032 <br />5.00% <br />2028 <br />5.00 <br />2033 <br />5.00 <br />2029 <br />5.00 <br />2034 <br />4.00 <br />2030 <br />5.00 <br />2035 <br />4.00 <br />2031 <br />5.00 <br />2036 <br />4.00 <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 Construction <br />Fund hereinafter created, as determined by the City Finance Director after consultation with the City's <br />municipal advisor. The City Finance Director 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 Act, in the total principal amount of $2,025,000, originally dated the date <br />of delivery, in fully registered form and in the denominations of $5,000 each or any integral <br />multiple thereof, numbered No. R-1 and upward, bearing interest as above set forth, and maturing <br />serially on February 1 in the years and amounts as follows: <br />Year Amount <br />Year Amount <br />2027 <br />$125,000 <br />2032 <br />$210,000 <br />2028 <br />175,000 <br />2033 <br />220,000 <br />2029 <br />180,000 <br />2034 <br />235,000 <br />2030 <br />190,000 <br />2035 <br />240,000 <br />2031 <br />200,000 <br />2036 <br />250,000 <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 />2.05. Optional Redemption. The City may elect on February 1, 2033, and on any day <br />thereafter to prepay Bonds maturing on or after February 1, 2034. Redemption may be in whole <br />or in part and if in part, at the option of the City and in such manner as the City will determine. If <br />less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br />Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by <br />lot the amount of each participant's interest in such maturity to be redeemed and each participant <br />4908-6676-6901.2 <br />