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2024 <br />2.00 <br />2032 <br />1.00 <br />2025 <br />2.00 <br />2033 <br />1.00 <br />2026 <br />2.00 <br />2034 <br />1.05 <br />2027 <br />2.00 <br />2035 <br />1.15 <br />2028 <br />2.00 <br />2036 <br />1.25 <br />2029 <br />2.00 <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 check of the <br />Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of the <br />unsuccessful proposers. The Mayor and City Administrator are authorized to execute a contract with <br />the Purchaser on behalf of the City, if requested by the Purchaser. <br />2.04. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell <br />the Bonds pursuant to the Act, in the total principal amount of $5,830,000, originally dated as of <br />the date of delivery, the Bonds being in fully registered form in the denominations of $5,000 each <br />or any integral multiple thereof, numbered No. R-1 and upward, bearing interest as above set forth, <br />and maturing serially on February 1 in the years and amounts as follows: <br />Year <br />Amount <br />Year <br />Amount <br />2022 <br />$ 335,000 <br />2030 <br />$400,000 <br />2023 <br />350,000 <br />2031 <br />410,000 <br />2024 <br />355,000 <br />2032 <br />410,000 <br />2025 <br />360,000 <br />2033 <br />415,000 <br />2026 <br />370,000 <br />2034 <br />420,000 <br />2027 <br />375,000 <br />2035 <br />425,000 <br />2028 <br />385,000 <br />2036 <br />430,000 <br />2029 <br />390,000 <br />As may be requested by the Purchaser, one or more term Bonds may be issued having <br />mandatory sinking fund redemption and final maturity amounts conforming to the foregoing <br />principal repayment schedule, and corresponding additions may be made to the provisions of the <br />applicable Bond(s). <br />2.05. d tional Redem tion. The City may elect on February 1, 2030, and on any day <br />thereafter to prepay Bonds maturing on or after February 1, 2031. Redemption may be in whole or <br />in 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 Section <br />7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the <br />amount of each participant's interest in such maturity to be redeemed and each participant will then <br />select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be <br />at a price of par plus accrued interest. <br />MU210-280-685657.v2 <br />