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}~02_ The sum of $ 19,600.00 being the amount bid by the Purchaser
<br />in excel. 8 of $2,745,400, shall be credited to the Debt Service Fund herein-
<br />after ~'~e~t,~d. The City Treasurer is directed to retain the good faith
<br />check of yh.r.: Purchaser pending completion of the sale and delivery of the
<br />Bonds, ~:.~d !o return the checks of the unsuccessful bidders forthwith. The
<br />Mayor ~:d City Administrator are directed to execute a contract with the
<br />Purchaser .~. behalf of the City.
<br />
<br /> l.:O7l~- The City shall forthwith issue and sell the Bonds in the total
<br />principal amount of $2,800,000, originally dated August 1, 1987, in the
<br />denominatio~ of $5,000 each or any integral multiple thereof, numbered
<br />No. Rl-~ upwz~.rd: bearing interest as above set forth, and which Bonds mature
<br />seriall]~ ,~ February 1 in the years and amounts as follows:
<br />
<br />Y tA R AMOUNT YEAR AMOUNT
<br />
<br />lY90 50,000 1999 150,000
<br />t991 50,000 2000 175,000
<br />t792 100,000 2001 175,000
<br />!993 100,000 2002 200,000
<br />1794 100,000 2003 200,000
<br />1~95 125,000 2004 225,000
<br />].996 125,000 2005 225,000
<br />~997 125,000 2006 250,000
<br />!D98 150,000 2007 275,000
<br />
<br /> l~[!Z~,, Optional Redemption. The City may elect on February 1, 1996,
<br />and o~ a~y interest payment date thereafter, to prepay Bonds maturing on or
<br />after ~ebr,~ry ~, 1997. Redemption may be in whole or in part of the bonds
<br />subjec~ to prepayment. If redemption is in part, those Bonds remaining
<br />unpaid which have the latest maturity date will be prepaid first. If only
<br />part o~ the Bonds having a common maturity date are called for prepayment
<br />the sp~lfi~ Bonds to be prepaid will be chosen by lot by the Registrar.
<br />All prepaiT~t~nts shall be at a price of par plus accrued interest.
<br />
<br />,~ctio~:~ 2. ~e~istration and Payment.
<br />
<br /> 2.,(i~, R~.21istered Form. The Bonds shall be issued only in fully
<br />regis~;ered i!orm. The interest thereon and, upon surrender of each Bond,
<br />the prJ~1p~l amount thereof shall be payable by check or draft issued by
<br />the Registrant described herein.
<br />
<br /> 2.()2~ Dates; Interest Payment Dates. Each Bond shall be dated as of
<br />the )asr i~terest payment date preceding the date of authentication to
<br />which !~:~terest on the Bond has been paid or made available for payment,
<br />unless fi) ~:he date of authentication is an interest payment date to which
<br />interes! ha~ been paid or made available for payment, in which case such
<br />Bond sb~il_ be dated as of the date of authentication, or (ii) the date of
<br />authent~a~on is prior to the first interest payment date, in which case
<br />such Bo~d shall be dated as of the date of original issue. The interest on
<br />the Bo~,ls si~a].], be payable on February 1 and August 1 of each year, com-
<br />mencing feb~uary I, 1988, to the owner of record thereof as of the close of
<br />busine~ or~ the fifteenth day of the immediately preceding month, whether
<br />or not ~;~ch day is a business day.
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