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Section 2. Sale of Bond. <br />2.01. Award to the Purchaser and Interest Rates. The proposal of <br />(the "Purchaser") to purchase the Bonds of the City <br />described in the Terms of Proposal thereof is hereby found and determined to be a reasonable <br />offer and is hereby accepted, the proposal being to purchase the Bonds at a price of <br />$_ _ plus accrued interest to date of delivery, for Bonds bearing interest as <br />follows: <br />Year Interest Rate <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br />Year Interest Rate <br />2019 <br />2020 <br />2021 <br />2022 <br />2023 <br />2024 <br />2025 <br />2026 <br />2027 <br />2028 <br />2.02. Purchase Contract. The sum of $ being the amount proposed by the <br />Purchaser in excess of $ shall be credited to the Debt Service Fund hereinafter <br />created, or deposited in the Construction Fund under Section 5.01 hereof, as determined by the <br />City's financial advisor. The City Treasurer is directed to retain the good faith check of the <br />Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of <br />the unsuccessful proposers. The Mayor and City Clerk are directed to execute a contract with <br />the Purchaser on behalf of the City. <br />2.03. Terms and Principal Amounts of Bonds. The City will forthwith issue and sell <br />the Bonds pursuant to the (the "Act") to the Purchaser in the total principal amount of <br />$ . The Bonds will be originally dated as of June 20, 2007 in the denomination of <br />$5,000 each or any integral multiple thereof, numbered No. R-1 upward, bearing interest as <br />above set forth and maturing serially on February 1 in the years and amounts as follows: <br />310976v1 MNI GE190-4 3 <br />