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01-017
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01-017
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7/15/2005 10:19:42 AM
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<br />, <br /> <br />1.03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, <br />Chapter 469 (Act) in the total principal amount of $5,160,000, originally dated March 1, 2001, in <br />the denomination of $5,000 each or any integral multiple thereof, numbered No. R-l, upward, <br />bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as <br />follows: <br /> <br />Year Amount Year Amount <br />2002 $140,000 2009 $380,000 <br />2003 150,000 2010 410,000 <br />2004 285,000 2011 430,000 <br />2005 300,000 2012 465,000 <br />2006 320,000 2013 490,000 <br />2007 340,000 2014 530,000 <br />2008 355,000 2015 565,000 <br /> <br />1.04. Optional Redemption. The City may elect on February 1, 2011, and on any day <br />thereafter to prepay Bonds due on or after February 1, 2012. Redemption may be in whole or in <br />part and if in part, at the option of the City and in such manner as the City will determine. If less <br />than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br />Section 6 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by <br />lot the amount of each participant's interest in such maturity to be redeemed and each participant <br />will then select by lot the beneficial ownership interests in such maturity to be redeemed. <br />Prepayments will be at a price of par plus accrued interest. <br /> <br />1.05. Term Bonds. To be completed if Term Bonds are requested by the Purchaser. <br /> <br />Section 2. <br /> <br />Registration and Payment. <br /> <br />2.01. Registered Form. The Bonds will be issued only in fully registered form. The <br />interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check <br />or draft issued by the Registrar described herein. <br /> <br />2.02. Dates: Interest Payment Dates. Each Bond will be dated as of the last interest <br />payment date preceding the date of authentication to which interest on the Bond has been paid or <br />made available for payment, unless (i) the date of authentication is an interest payment date to <br />which interest has been paid or made available for payment, in which case the Bond will be dated as <br />of the date of authentication, or (ii) the date of authentication is prior to the first interest payment <br />date, in which case the Bond will be dated as of the date of original issue. The interest on the Bonds <br />is payable on February I and August 1 of each year, commencing August 1, 2001, to the registered <br />owners of record thereof as of the close of business on the fifteenth day of the immediately <br />preceding month, whether or not such day is a business day. <br /> <br />2.03. Registration. The City will appoint a bond registrar, transfer agent, authenticating <br /> <br />SJB-I922IOv I <br />NE136-166 <br />
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