Laserfiche WebLink
$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 />Year <br />Interest Rate <br />Year <br />Interest Rate <br />2023 <br />1.00% <br />2030 <br />1.25% <br />2024 <br />1.00 <br />2031 <br />1.35 <br />2025 <br />1.00 <br />2032 <br />1.45 <br />2026 <br />1.00 <br />2033 <br />1.55 <br />2027 <br />1.00 <br />2034 <br />1.65 <br />2028 <br />1.00 <br />2035 <br />1.70 <br />2029 <br />1.15 <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 />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 />Year <br />Amount <br />Year <br />Amount <br />2023 <br />$520,000 <br />2030 <br />$555,000 <br />2024 <br />520,000 <br />2031 <br />565,000 <br />2025 <br />530,000 <br />2032 <br />570,000 <br />2026 <br />535,000 <br />2033 <br />585,000 <br />2027 <br />535,000 <br />2034 <br />590,000 <br />2028 <br />545,000 <br />2035 <br />605,000 <br />2029 <br />545,000 <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 />2.04. 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 />0 determine by lot the amount of each participant's interest in such maturity to be redeemed and <br />EL185-67-688304.v2 <br />