04-15-1991 CC - Laserfiche WebLink

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. . , • Revenue Bonds, Series 1991A, " shall be dated May 1, 1991, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-1 upward in the denomination of $5, 000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on February 1 in the years and amounts as follows: Years Amounts Years Amounts 1993 $ 35, 000 2004 $135,000 1994 55, 000 2005 145, 000 1995 80, 000 2006 155, 000 1996 85, 000 2007 165, 000 1997 90, 000 2008 175, 000 1998 95, 000 2009 190, 000 1999 100, 000 2010 205,000 2000 105, 000 2011 215, 000 2001 115, 000 2012 230,000 2002 120, 000 2013 250, 000 2003 130, 000 4 . Purpose. The Bonds shall provide funds to finance the Improvements. The total cost of the Improvements, which shall include all costs enumerated in Minnesota Statutes, Section 475. 65, is estimated to be at least equal to the amount of the • Bonds. Work on the Improvements shall proceed with due diligence to completion. • 5. Interest. The Bonds shall bear interest payable semiannually on February 1 and August 1 of each year (each, an "Interest Payment Date") , commencing February 1, 1992, calculated on the basis of a 360-day year consisting of twelve 30-day months, at the respective rates per annum set forth opposite the maturity years, as follows: Maturity Interest Maturity Interest Year Rate Year Rate 1993 2004 1994 2005 1995 2006 1996 2007 1997 2008 1998 2009 1999 2010 2000 2011 2001 2012 2002 2013 2003 410 16244 3