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<br />$7,182,547.19 (par amount of $7,200,000, plus a premium of $34,704.70, less underwriter’s <br />discount of $52,157.51), for Bonds bearing interest as follows: <br /> <br />Year Interest Rate Year Interest Rate <br /> <br />2023 1.00% 2030 1.25% <br />2024 1.00 2031 1.35 <br />2025 1.00 2032 1.45 <br />2026 1.00 2033 1.55 <br />2027 1.00 2034 1.65 <br />2028 1.00 2035 1.70 <br />2029 1.15 <br /> <br /> 2.02. 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 Escrow Fund <br />hereinafter created as determined by the City Finance Director upon consultation with the City’s <br />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 /> 2.03. 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 $7,200,000, originally dated as of the <br />date of delivery, in fully registered form and issued in denominations of $5,000 each or any integral <br />multiple thereof, numbered No. R-1 and upward, bearing interest as above set forth, and maturing <br />on February 1 in the years and amounts as follows: <br /> <br />Year Amount Year Amount <br /> <br />2023 $520,000 2030 $555,000 <br />2024 520,000 2031 565,000 <br />2025 530,000 2032 570,000 <br />2026 535,000 2033 585,000 <br />2027 535,000 2034 590,000 <br />2028 545,000 2035 605,000 <br />2029 545,000 <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 />2.04. 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. <br />If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as <br />defined in Section 8 hereof) of the particular amount of such maturity to be prepaid. DTC will <br />determine by lot the amount of each participant’s interest in such maturity to be redeemed and <br />EL185-67-688304.v2 <br />3 <br /> <br />