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Year of InterestYear of Interest <br />MaturityRateMaturityRate <br />20224.00%20294.00% <br />20234.0020304.00 <br />20244.0020314.00 <br />20254.002034*2.00 <br />20264.002037*2.00 <br />20274.002041*2.00 <br />20284.00 <br />*Term Bond <br />2.03.Purchase Contract. Any amountpaid by the Purchaser over the minimum purchase <br />priceshall be credited to the Debt Service Fund hereinafter created, or deposited in the Construction <br />Fund hereinafter created,as determined by the Finance Managerin consultation with Baker Tilly. <br />The Finance Manageris directed to retain the good faith check of the Purchaser, pending <br />completion of the sale of the Bonds. The President and Secretaryare authorized to execute a <br />contract with the Purchaser on behalf of the City and theCommission, if requested by the <br />Purchaser. <br />2.04.Terms and Principal Amountsof the Bonds. TheCity and the Commissionwill <br />forthwithissue and sell the Bonds pursuant to the Act, in the total principal amount of <br />$1,615,000, originally dated as ofthe date of deliveryin fully registered form and issued in <br />denominationsof $5,000 each or any integral multiple thereof, numberedNo. R-1and upward, <br />bearing interest as above set forth, and maturing on August1 in the years and amounts as <br />follows: <br />YearAmountYearAmount <br />2022$50,0002029$75,000 <br />202360,000203080,000 <br />202460,000203180,000 <br />202565,0002034*260,000 <br />202670,0002037*275,000 <br />202770,0002041*395,000 <br />202875,000 <br />*Term Bond <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 repaymentschedule, and corresponding additions may bemade to the provisions of the <br />applicable Bond(s). <br />2.05.Optional Redemption. TheCitymay elect on August 1, 2030, and on any day <br />thereafter to prepay Bonds maturing on or after August 1, 2031. Redemption may be in whole or in <br />part and if in part, at the option of the Cityand in such manner as theCitywill determine. If less <br />than all Bonds of a maturity are called for redemption, the Citywill notify DTC (as defined in <br />EL185-69-713323.v2 <br />3 <br />38 <br />