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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 <br />Refunding Portion <br />65,000 <br />65,000 <br />65,000 <br />65,000 <br />70,000 <br />75,000 <br />Prior 2001 Bonds <br />Refunding Portion <br />185,000 <br />190,000 <br />200,000 <br />200,000 <br />210,000 <br />215,000 <br />225,000 <br />235,000 <br />240,000 <br />250,000 <br />260,000 <br />270,000 <br />If Bonds aze 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 particulaz 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 maybe allocated to either or both of the <br />portions of debt service in such amounts as the City shall determine. <br />4. Purpose: Refundine 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 />dollaz amount of the debt service to the City from a total dollaz amount of $3,687,492.21 for the <br />Prior 2001 Bonds to a total dollaz amount of $3,532,404.79 for the Prior 2001 Bonds Refunding <br />Portion of the Bonds, computed in accordance with the provisions of Minnesota Statutes, Section <br />475.67, Subdivision 12, and (ii) the dollaz amount of such present value of the debt service for <br />the Prior 2001 Bonds Refunding Portion of the Bonds is lower by at least three percent than the <br />dollar amount of such present value of the debt service for the Prior 2001 Bonds as required in <br />said Subdivision 12. <br />5. Interest. The Bonds shall beaz 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 yeaz of twelve 30-day months, at the respective rates per <br />annum set forth opposite the maturity years as follows: <br />• <br />., <br /> <br />zi~eooi~i 6 <br />