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Resolution 8745
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Resolution 8745
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Last modified
6/25/2019 10:08:26 AM
Creation date
6/5/2017 1:55:27 PM
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MV City Council
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Year Amount Year Amount <br /> 2019 $225,000 2024 $ 260,000 <br /> 2020 235,000 2025 270,000 <br /> 2021 240,000 2037* 3,885,000 <br /> 2022 245,000 2038 385,000 <br /> 2023 255,000 <br /> *Term Bond <br /> As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory <br /> sinking fund redemption and final maturity amounts conforming to the foregoing principal <br /> repayment schedule, and corresponding additions may be made to the provisions of the applicable <br /> Bond(s). <br /> 2.04. Optional Redemption. The City may elect on February 1, 2026, and on any day <br /> thereafter to prepay Bonds due on or after February 1, 2027. Redemption may be in whole or in <br /> part and if in part, at the option of the City and in such manner as the City will determine. If less <br /> than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br /> Section 8 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 /> will then select by lot the beneficial ownership interests in such maturity to be redeemed. <br /> Prepayments will be at a price of par plus accrued interest. <br /> 2.05. Term Bond;Mandatory Redemption. The Bond maturing on February 1,2037 shall <br /> hereinafter be referred to collectively as the "Term Bond." The principal amounts of the Term <br /> Bond subject to mandatory sinking fund redemption on any date may be reduced through earlier <br /> optional redemptions, with any partial redemptions of the Term Bond credited against future <br /> mandatory sinking fund redemptions of such Term Bond in such order as the City shall determine. <br /> The Term Bond is subject to mandatory sinking fund redemption and shall be redeemed in part by <br /> lot at par plus accrued interest on the sinking fund installment dates and in the principal amounts <br /> as follows: <br /> 496797v2 JSB MU210-244 4 <br />
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