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<br />unsuccessful proposers forthwith. The sum of $18,805.00 being the amount offered by the
<br />Purchaser in excess of $3,135,130 will be credited to the debt service fund created by Section 3.
<br />
<br />1.03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes,
<br />Chapters 429, 444 and 475 (together, the Act), in the total principal amount of $3,170,000,
<br />originally dated as of February 1, 2003, the Bonds being in fully registered form and issued in
<br />the denomination of $5,000 or any integral multiple thereof, numbered No. R-l and upward,
<br />bearing interest as above set forth, and maturing on February 1 in the years and amounts as
<br />follows:
<br />
<br />Year Amount Year Amount
<br />2004 $ 215,000 2010 $ 310,000
<br />2005 295,000 2011 325,000
<br />2006 295,000 2012 330,000
<br />2007 295,000 2013 340,000
<br />2008 300,000 2014 160,000
<br />2009 305,000
<br />
<br />$2,860,000 of the Bonds (the Improvement Bonds) maturing in the amounts and on the dates set
<br />forth below are being issued to finance the cost of the Improvements:
<br />
<br />Year Amount Year Amount
<br />2004 $ 190,000 2010 $ 280,000
<br />2005 265,000 2011 290,000
<br />2006 265,000 2012 295,000
<br />2007 265,000 2013 305,000
<br />2008 270,000 2014 160,000
<br />2009 275,000
<br />
<br />$310,000 of the Bonds (the Water Revenue Bonds) maturing in the amounts and on the dates set
<br />forth below are being issued to finance the cost of the Water Improvements:
<br />
<br />Year Amount Year Amount
<br />2004 $ 25,000 2010 $ 30,000
<br />2005 30,000 2011 35,000
<br />2006 30,000 2012 35,000
<br />2007 30,000 2013 35,000
<br />2008 30,000
<br />2009 30,000
<br />SJB-225775vl
<br />NE136-184
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