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2027 <br />True interest Cost: % <br />1.03, Purchase Contract. The amount proposed by the .Purchaser in. excess of. the minimum bid <br />shall be credited to the Debt Service .Fund hereinafter created or deposited in the Construction Fund <br />hereinafter created, as determined by the Treasurer of the City in consultation with the City's municipal <br />advisor, The Treasurer is directed to retain the.good faith check of the Purchaser, pending completion of the <br />sale of the Bonds, and to return the good faith checks of the unsuccessful proposers: The Mayor and City <br />Clerk. are directed to execute a. contract: with the Purchaser on behalf of the City: <br />L04. Terms and Principal Artiounts of the Bonds. The City will forthwith issue and sell the <br />Bonds pursuant to the. Act, in the total principal amount. of .$605;006, :originally dated the date.. of issuance, <br />in the denomination of $5,000 each or any integrat multiple thereof; numbered No. R-1, upward, bearing <br />interest as above set forth, and. maturing serially on February 1 in. the years and amounts as follows: <br />Year Amount <br />Year Amount <br />2020 <br />$ 2028 $ <br />2021 <br />2029 <br />2022 <br />2030. <br />2023 <br />2031 <br />-2024 <br />2032 <br />2025 <br />2033 <br />2026 <br />2034 <br />2027 <br />1.05. Optional Redemption. The City may elect on February 1, 2027, and on: any day thereafter <br />to.prepay Bonds due on.or:affer February 1, 2028. Redemption may be in. whole or in part and if in.:part,..at <br />the option of the City and in such. manner as.the City will determine. If less than ail' Bonds. of a maturity are <br />called for redemption,. the City will notify DTC (as defined in Section 7 hereof) of the particular.. amount of <br />such maturity to be prepaid.: DTC will determine by lot the Amount: of each participant's interest in such <br />maturity to be redeemed .and each participant will then select by :lot file beneficial., ownership 'interests in <br />such maturity to be redeemed. Prepayments will be at a price of par plus.accrued interest. <br />[1.46. Mandatory Redemption;_ Term Bond.. To be completed if Term. Bonds are requestedby the <br />Purchaser.] <br />Section 2. Registration and Payment. <br />2.01, Registered Form. The Bonds Will be issued .only in fully registered forin. The interest <br />thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft:.issued <br />by the Registrar described herein. <br />2.01 Dates; Interest Payment__ Dates.. Each Bond will be dated as of the last interest.payment date <br />preceding the date of authentication to which interest on the Bond has been paid or made available: for <br />payment, unless (i) the date .of authentication is an. interest payment date to which .interest has been paid or <br />made: available for payment, in. which case the Bond will be dated..as. of'the date of authentication,,or (11) the <br />date of authentication is .prior to the first 'interest payment date, in which case the Bond wiII be dated as of <br />5264$60 GAF GE190-14 <br />