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13590415v1 <br />2 <br />F.WHEREAS, the proposals set forth on Exhibit A attached hereto were received <br />by the Administrator, or designee, at the offices of Baker Tilly MA at 11:00 A.M. this same day <br />pursuant to the Terms of Proposal established for the Bonds; and <br />G.WHEREAS, it is in the best interests of the City that the Bonds be issued in book- <br />entry form as hereinafter provided; and <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Hugo, <br />Minnesota, as follows: <br />1.Acceptance of Proposal. The proposal of ____________________ in <br />____________, ______________ (the "Purchaser"), to purchase the Bonds, in accordance with <br />the Terms of Proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of <br />$_______________, plus interest accrued to settlement, is hereby found, determined and <br />declared to be the most favorable proposal received, is hereby accepted and the Bonds are hereby <br />awarded to the Purchaser. The Administrator is directed to retain the deposit of the Purchaser <br />and to forthwith return to the unsuccessful bidders their good faith checks or drafts. <br />2.Bond Terms. <br />(a)Original Issue Date; Denominations; Maturities; Term Bond Option. The Bonds <br />shall be dated October 7, 2021, as the date of original issue and shall be issued forthwith on or <br />after such date in fully registered form, shall be numbered from R-1 upward in the denomination <br />of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized <br />Denominations") and shall mature on February 1 in the years and amounts as follows: <br />Year Amount Year Amount <br />2023 $ 2033 $ <br />2024 2034 <br />2025 2035 <br />2026 2036 <br />2027 2037 <br />2028 2038 <br />2029 2039 <br />2030 2040 <br />2031 2041 <br />2032 2042 <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 />(b)Book Entry Only System. The Depository Trust Company, a limited purpose <br />trust company organized under the laws of the State of New York or any of its successors or its DRAFT