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<br />necessary to the transaction herein described shall be <br /> <br />delivered, filed and recorded as provided herein and in the <br /> <br />Loan Agreement and Indenture. <br /> <br />9. The City hereby authorizes the use and <br /> <br />circulation by the Bond Purchaser of the Official Statement in <br /> <br />connection with the offer and sale of the Bonds. The City has <br /> <br />not prepared nor made any independent investigation of the <br /> <br />information contained in the Official Statement and takes no <br /> <br />responsibility for such information. <br /> <br />10. The City shall proceed forthwith to issue its <br /> <br />Bonds, in the form and upon the terms set forth in the <br /> <br />Indenture. Prior to the Mandatory Purchase Date, the Bonds <br /> <br />shall mature on the dates, and shall bear interest at the <br /> <br />rates, as set forth below: <br /> <br />Maturity <br />(January 1) <br /> <br />Principal <br />Amount <br /> <br />Interest <br />Rate <br /> <br />1991 <br />1992 <br />1993 <br /> <br />$ 35,000 <br />40,000 <br />40,000 <br /> <br />6.25% <br />6.50 <br />6.75 <br /> <br />$3,315,000 Term Bonds at 7.00% per annum until July 1, 1993 <br />Final Maturity: January 1, 2020 <br /> <br />From and after the Mandatory Purchase Date, the Bonds shall <br /> <br />mature on the dates and shall bear interest at the rates as <br /> <br />set forth in the Indenture. The offer of the Bond Purchaser <br /> <br />to purchase the Bonds at par (100% of their principal amount) <br /> <br />plus accrued interest to the date of delivery at the interest <br /> <br />11 <br />