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Principal Amount <br /> Authorizing Bond Date Outstanding <br /> Ordinance Designation of Bonds (3/1/09) <br /> Water and Sewer <br /> Revenue Bonds, <br /> Ordinance No. 2208-97 Series 1997 March 1, 1997 $ 4,160,000 <br /> ("1997 Bonds") <br /> Water and Sewer <br /> Revenue Refunding <br /> Ordinance No. 2607-02 Bonds, 2002 June 1, 2002 2,350,000 <br /> ("2002 Bonds") <br /> Water and Sewer <br /> Ordinance No. 2690-03 Revenue and May 15, 2003 41,040,000 <br /> Refunding Bonds, <br /> 2003 <br /> Water and Sewer <br /> Ordinance No. 2870-05 Revenue Bonds, October 14, 2005 35,000,000 <br /> 2005 <br /> (collectively, the "Outstanding Parity Bonds"); and <br /> WHEREAS, the remaining outstanding 1997 Bonds mature on the following dates and in <br /> the following principal amounts: <br /> Maturity Years Principal Interest <br /> (July 1) Amounts Rates <br /> 2009 $ 2,025,000 5.10% <br /> 2010 2,135,000 5.20 <br /> ; and <br /> WHEREAS, Ordinance No. 2208-97 provides that the 1997 Bonds may be redeemed in <br /> whole, or in part, on any interest payment date on and after July 1, 2007 as follows: <br /> On July 1, 2007 and January 1, 2008 101.0% <br /> On July 1, 2008 and thereafter 100.0 <br /> ; and <br /> WHEREAS, it appears that the 1997 Bonds maturing on July 1, 2010 (the "Refunded <br /> Bonds") may be refunded with the proceeds of water and sewer revenue refunding bonds (the <br /> -2- P:‘20287_041M20287_880 03/25/09 <br />