Laserfiche WebLink
<br /> <br />Year of Interest Year of Interest <br />Maturity Rate Maturity Rate <br /> <br />2023 5.00% 2033 1.10% <br />2024 5.00 2034 1.20 <br />2025 5.00 2035 1.30 <br />2026 5.00 2036 1.40 <br />2027 5.00 2037 1.50 <br />2028 4.00 2038 1.55 <br />2029 4.00 2039 1.60 <br />2030 4.00 2040 1.65 <br />2031 2.00 2041 1.70 <br />2032 1.00 2042 1.80 <br /> <br /> 1.03. 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 upon consultation with the <br />City’s municipal advisor. The Mayor and City Clerk are authorized to execute a contract with the <br />Purchaser on behalf of the City, if requested by the Purchaser. <br /> <br /> 1.04. 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 $9,435,000, originally dated as of <br />the date of delivery, in fully registered form and issued, in denominations of $5,000 each or any <br />integral multiple thereof, numbered No. R-1 and upward, bearing interest as above set forth, and <br />maturing on February 1 in the years and amounts as follows: <br /> <br />Year Amount Year Amount <br /> <br />2023 $335,000 2033 $495,000 <br />2024 355,000 2034 500,000 <br />2025 375,000 2035 505,000 <br />2026 390,000 2036 515,000 <br />2027 405,000 2037 520,000 <br />2028 425,000 2038 530,000 <br />2029 445,000 2039 540,000 <br />2030 460,000 2040 545,000 <br />2031 480,000 2041 555,000 <br />2032 495,000 2042 565,000 <br /> <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 />1.05. Optional Redemption. 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 <br />or in part and if in part, at the option of the City and in such manner as the City will determine. If <br />EL185-64-684074.v2 <br />3 <br /> <br />