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<br />/~ <br /> <br />. , <br /> <br />,.- <br /> <br />1.07. The Bonds bear interest as follows: <br /> <br />Tenn Bonds due November 1,2002 at 4.75% <br />Tenn Bonds due November 1,2006 at 5.00% <br />Tenn Bonds due November 1, 2012 at 5.60% <br />Tenn Bonds due November 1,2019 at 6.00% <br /> <br />True interest cost: 6.0107332% <br /> <br />1.08. The Mayor and City Manager are directed to execute a contract with the Purchaser <br />on behalf of the City. <br /> <br />1.09. The City will forthwith issue and sell the Bonds pursuant to Mirmesota Statutes, <br />Sections 471.191 (the Act) in the total principal amount of $645,000, originally dated August 1, <br />1999, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-l, <br />upward, bearing interest as above set forth, and maturing on November 1 in the years and amounts <br />as follows: <br /> <br />Term Bonds due November 1,2002 in the aggregate principal amount of$ 50,000 <br />Term Bonds due November 1, 2006 in the aggregate principal amount of $100,000 <br />Tenn Bonds due November 1,2012 in the aggregate principal amount of$190,000 <br />Tenn Bonds due November 1,2019 in the aggregate principal amount of $305,000 <br /> <br />1.10. Optional Redemption. The City may elect on November 1, 2005, and on any day <br />thereafter to prepay Bonds due on or after November 1, 2006. 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 7 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 />1.11. Mandatory Redemption. The Tenn Bonds are subject to mandatory redemption on <br />February 1, ofthe following years in the following amounts: <br /> <br />Year <br /> <br />Amount <br /> <br />2002 Term Bonds <br />2000 <br />2001 <br />2002 (maturity) <br /> <br />$10,000 <br />20,000 <br />20,000 <br /> <br />DJK-165146 <br />NE136-152 <br />