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Maturity Year Principal Interest <br /> (December 1) Amount Rate <br /> 2016 $ 1,525,000 3.00% <br /> 2017 1,575,000 2.50 <br /> 2018 1,610,000 5.00 <br /> 2019 1,695,000 5.00 <br /> 2020 1,775,000 5.00 <br /> 2021 1,865,000 5.00 <br /> 2022 1,960,000 5.00 <br /> 2023 2,060,000 5.00 <br /> 2024 2,160,000 5.00 <br /> 2025 2,270,000 5.00 <br /> 2026 2,380,000 5.00 <br /> 2027 2,500,000 4.25 <br /> 2028 2,605,000 5.00 <br /> 2029 2,740,000 4.75 <br /> 2030 2,870,000 4.75 <br /> 2031 3,005,000 4.80 <br /> 2032 3,150,000 4.75 <br /> 2035 10,400,000 5.00 <br /> ; and <br /> WHEREAS, Ordinance No. 3211-11 provides that the 2011 Bonds maturing on and after <br /> December 1, 2021 (the "2011 Refunding Bond Candidates") may be redeemed in whole, or in <br /> part, on any date on and after December 1, 2020 at par; and <br /> WHEREAS, it appears that all or a portion of the 2009 Refunding Bond Candidates and <br /> the 2011 Refunding Bond Candidates (together, the "Refunding Bond Candidates") may be <br /> refunded with the proceeds of water and sewer revenue refunding bonds (the "Bonds"), thereby <br /> realizing savings in debt service for the benefit of the City's ratepayers; and <br /> WHEREAS, the ordinances authorizing the Outstanding Parity Bonds provide that <br /> additional water and sewer revenue bonds may be issued on a parity with such bonds if certain <br /> conditions are met; and <br /> -3- P:\20287 CMVN20287 BN9 10/11/16 <br />