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(b) Allocation. The aggregate principal amount of$6,915,000 maturing in each of the
<br /> years and amounts hereinafter set forth are issued to finance the TIF Project (the "Tax Increment
<br /> Portion" of the Bonds); and the aggregate principal amount of$1,400,000 maturing in each of the
<br /> years and amounts hereinafter set forth are issued to finance the Equipment (the "Equipment
<br /> Portion" of the Bonds):
<br /> Tax Increment Equipment
<br /> Year Portion Portion Total
<br /> 2024 $300,000 $105,000 $405,000
<br /> 2025 340,000 115,000 455,000
<br /> 2026 355,000 125,000 480,000
<br /> 2027 375,000 130,000 505,000
<br /> 2028 395,000 135,000 530,000
<br /> 2029 415,000 145,000 560,000
<br /> 2030 435,000 150,000 585,000
<br /> 2031 455,000 155,000 610,000
<br /> 2032 480,000 165,000 645,000
<br /> 2033 500,000 175,000 675,000
<br /> 2034 530,000 --- 530,000
<br /> 2035 550,000 --- 550,000
<br /> 2036 570,000 --- 570,000
<br /> 2037 595,000 --- 595,000
<br /> 2038 620,000 --- 620,000
<br /> If Bonds are prepaid,the prepayments shall be allocated to the portions of debt service(and
<br /> hence allocated to the payment of Bonds treated as relating to a particular portion of debt service)
<br /> as provided in this paragraph. If the source of prepayment moneys is the general fund of the City,
<br /> or other generally available source, including the levy of taxes, the prepayment may be allocated
<br /> to either or both of the portions of debt service in such amounts as the City shall determine.
<br /> (c) Book Entry Only System. The Depository Trust Company, a limited purpose trust
<br /> 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 /> (i) 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 /> (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register
<br /> maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE &
<br /> CO., as the nominee (it or any nominee of the existing or a successor Depository,
<br /> the "Nominee").
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