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Year <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br />2019 <br />2020 <br />2021 <br />2022 <br />Prior 1998 Bonds Prior 2001 Bonds <br />Refunding Portion Refunding Portion <br />If Bonds are prepaid, the prepayments shall be allocated to the portions of debt service <br />(and hence allocated to the payment of Bonds treated as relating to a particular portion of debt <br />service) as provided in this paragraph. If the source of prepayment is the general fund of the <br />City, or other generally available source, the prepayment may be allocated to either or both of the <br />portions of debt service in such amounts as the City shall determine. <br />4. Purpose; Refundin Fg findings. The Bonds shall provide funds for a current <br />refunding of the Refunded 1998 Bonds and a crossover advance refunding of the Refunded 2001 <br />Bonds (the "Refunding"). It is hereby found, determined and declared that the Refunding is <br />pursuant to Minnesota Statutes, Section 475.67, Subdivision 13. With respect to the Refunded <br />2001 Bonds: (i) as of the Crossover Date there shall result a reduction in the present value of the <br />dollar amount of the debt service to the City from a total dollar amount of $ <br />for the Prior 2001 Bonds to a total dollar amount of $ for the Prior 2001 <br />Bonds Refunding Portion of the Bonds, computed in accordance with the provisions of <br />Minnesota Statutes, Section 475.67, Subdivision 12, and (ii) the dollar amount of such present <br />value of the debt service for the Prior 2001 Bonds Refunding Portion of the Bonds is lower by at <br />least three percent than the dollar amount of such present value of the debt service for the Prior <br />2001 Bonds as required in said Subdivision 12. <br />5. Interest. The Bonds shall bear interest payable semiannually on February 1 and <br />August 1 of each year (each, an "Interest Payment Date"), commencing August 1, 2008, <br />calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per <br />annum set forth opposite the maturity years as follows: <br />Maturit.Y Year <br />2009 <br />2010 <br />2011 <br />2~i6ooi~i <br />Interest Rate <br />Maturity Year <br />Interest Rate <br /> <br />2016 <br />2017 <br />2018 <br />6 <br /> <br />