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u <br />Year of <br />Interest <br />Year of <br />Interest <br />Maturity <br />Rate <br />Maturi <br />Rate <br />2022 <br />5.0% <br />2028 <br />4.00% <br />2023 <br />5.00 <br />2029 <br />4.00 <br />2024 <br />5.00 <br />2030 <br />1.00 <br />2025 <br />5.00 <br />2031 <br />1.00 <br />2026 <br />5.00 <br />2032 <br />1.00 <br />2027 <br />5.00 <br />2033 <br />1.10 <br />2.03. 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 Refunding <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 />2.04. Terms and Princir):ll Amounts of the Bonds. The City will forthwith issue and sell the <br />Bonds, pursuant to the Act in the total principal amount of $5,340,000, originally dated as of the date <br />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 on <br />February 1 in the years and amounts as follows: <br />Year Amount <br />Year Amount <br />2022 <br />$870,000 <br />2028 <br />$355,000 <br />2023 <br />940,000 <br />2029 <br />365,000 <br />2024 <br />295,000 <br />2030 <br />380,000 <br />2025 <br />305,000 <br />2031 <br />385,000 <br />2026 <br />320,000 <br />2032 <br />390,000 <br />2027 <br />340,000 <br />2033 <br />395,000 <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 principal <br />repayment schedule, and corresponding additions may be made to the provisions of the applicable <br />Bond(s). <br />2.05. Optional Redemption. The City may elect on February 1, 2029, and on any day <br />thereafter to prepay Bonds maturing on or after February 1, 2030. Redemption may be in whole or <br />in part and if in part, at the option of the City and in such manner as the City will determine. If less <br />than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section <br />7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the <br />amount of each participant's interest in such maturity to be redeemed and each participant will then <br />select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be <br />at a price of par plus accrued interest. <br />EL185-66-684471.v2 <br />