5.1 ERMUSR 05-11-2021 - Laserfiche WebLink

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EL185-69-713323.v1 3 Year of Maturity Interest Rate Year of Maturity Interest Rate 2022 % 2032 % 2023 2033 2024 2034 2025 2035 2026 2036 2027 2037 2028 2038 2029 2039 2030 2040 2031 2041 2.03. Purchase Contract. Any amount paid by the Purchaser over the minimum purchase price shall be credited to the Debt Service Fund hereinafter created, or deposited in the Construction Fund hereinafter created, as determined by the Finance Manager in consultation with Baker Tilly. The Finance Manager is directed to retain the good faith check of the Purchaser, pending completion of the sale of the Bonds. The President and Secretary are authorized to execute a contract with the Purchaser on behalf of the City and the Commission, if requested by the Purchaser. 2.04. Terms and Principal Amounts of the Bonds. The City and the Commission will forthwith issue and sell the Bonds pursuant to the Act, in the total principal amount of $1,750,000, originally dated as of the date of delivery in fully registered form and issued in denominations of $5,000 each or any integral multiple thereof, numbered No. R-1 and upward, bearing interest as above set forth, and maturing on August 1 in the years and amounts as follows: Year Amount Year Amount 2022 $75,000 2032 $ 85,000 2023 80,000 2033 85,000 2024 80,000 2034 90,000 2025 80,000 2035 90,000 2026 80,000 2036 95,000 2027 80,000 2037 95,000 2028 80,000 2038 95,000 2029 85,000 2039 100,000 2030 85,000 2040 100,000 2031 85,000 2041 105,000 As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). 200