Laserfiche WebLink
and deposited by the City until the Bonds have been delivered and shall be deducted <br /> from the purchase price paid at settlement. The good faith checks of other bidders <br /> shall be returned to them forthwith. <br /> 1.04. Savings. It is hereby determined that by issuance of the Bonds the <br /> City will realize a substantial interest rate reduction, a gross savings of <br /> approximately $ and a present value savings (using the yield on the <br /> Bonds, computed in accordance with Section 148 of the Internal Revenue Code of <br /> 1986, as amended, as the discount factor) of approximately $ <br /> 1.05. Issuance of Bonds. All acts, conditions and things which are <br /> required by the Constitution and laws of the State of Minnesota to be done, to exist, <br /> to happen and to be performed precedent to and in the valid issuance of the Bonds <br /> having been done, existing, having happened and having been performed, it is now <br /> necessary for the Council to establish the form and terms of the Bonds, to provide <br /> security therefor and to issue the Bonds forthwith. <br /> Section 2. Form of Bonds. <br /> 2.01. Bond Form. The Bonds shall be prepared in substantially the <br /> following form: <br /> �' -2- <br />