|
Improvement Portion State -Aid Portion
<br />Year (Amount) (Amount) Total Amount
<br />2013 $220,000 $220,000
<br />2014 $ 20,000 245,000 265,000
<br />2015 20,000 250,000 270,000
<br />2016 120,000 255,000 375,000
<br />2017 80,000 265,000 345,000
<br />2018 80,000 270,000 350,000
<br />2019 85,000 275,000 360,000
<br />2020 85,000 280,000 365,000
<br />2021 85,000 285,000 370,000
<br />2022 90,000 290,000 380,000
<br />2023 90,000 - 90,000
<br />2024 95,000 95,000
<br />2025 100,000 100,000
<br />2026 100,000 100,000
<br />2027 105,000 105,000
<br />2028 105,000 105,000
<br />2029 110,000 110,000
<br />2030 115,000 115,000
<br />2031 120,000 120,000
<br />2032 125,000 125,000
<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 moneys is the general fund of
<br />the City, or other generally available source, the prepayment may be allocated to either or both of
<br />the portions of debt service in such amounts as the City shall determine. If the source of the
<br />prepayment is special assessments pledged to and taxes levied for the Improvements, the
<br />prepayment shall be allocated to the Improvement Portion of debt service. If the source of a
<br />prepayment is moneys allotted to the City from its account in the Municipal State -Aid Street
<br />Fund, the prepayment shall be allocated to the State -Aid Portion of debt service.
<br />(c) Book Entry Only System. The Depository Trust Company, a limited purpose
<br />trust company organized under the laws of the State of New York or any of its successors or its
<br />successors to its functions hereunder (the "Depository ") will act as securities depository for the
<br />Bonds, and to this end:
<br />4057760v3
<br />(i)
<br />The Bonds shall be initially issued and, so long as they remain in book entry form
<br />only (the "Book Entry Only Period "), shall at all times be in the form of a separate
<br />single fully registered Bond for each maturity of the Bonds; and for purposes of
<br />complying with this requirement under paragraphs 5 and 10 Authorized
<br />Denominations for any Bond shall be deemed to be limited during the Book Entry
<br />Only Period to the outstanding principal amount of that Bond.
<br />3
<br />
|