|
I
<br />; and
<br />2029 10,540,000
<br />2030 5,670,000
<br />Principal
<br />Amount
<br />4.75%
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />4.25
<br />5.00
<br />4.25
<br />5.00
<br />5.00
<br />5.00
<br />4.50
<br />5.00
<br />will]
<br />4.50
<br />Interest
<br />Rate
<br />WHEREAS, Ordinance No. 2870-05 provides that the 2005 Bonds maturing on and after
<br />December 1, 2016 (the "2005 Refimded Bonds") may be redeemed in whole, or in part, on any
<br />date on and after December 1, 2015 at par; and
<br />WHEREAS, it appears that the 2003 Bonds and the 2005 Refunded Bonds (together, the
<br />"Refunded Bonds") may be refunded with the proceeds of water and sewer revenue refunding
<br />bonds (the "Bonds"), thereby realizing savings in debt service for the benefit of the City's
<br />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 />WHEREAS, it appears to the City Council (the "Council") of the City that such
<br />conditions can be met and that it is in the best interests of the City and its inhabitants that the
<br />Bonds be issued on a parity with the outstanding water and sewer revenue bonds of the City; and
<br />6
<br />-3-
<br />P:\20287_CMWQ0287 9RC 01/02/13
<br />Maturity Year
<br />(December 1)
<br />2013
<br />$ 860,000
<br />2014
<br />905,000
<br />2015
<br />945,000
<br />2016
<br />990,000
<br />2017
<br />1,045,000
<br />2018
<br />1,100,000
<br />2019
<br />1,150,000
<br />2020
<br />1,210,000
<br />2021
<br />1,260,000
<br />2022
<br />1,325,000
<br />2023
<br />1,380,000
<br />2024
<br />1,450,000
<br />2025
<br />1,520,000
<br />2026
<br />1,595,000
<br />2027
<br />1,665,000
<br />2029 10,540,000
<br />2030 5,670,000
<br />Principal
<br />Amount
<br />4.75%
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />5.00
<br />4.25
<br />5.00
<br />4.25
<br />5.00
<br />5.00
<br />5.00
<br />4.50
<br />5.00
<br />will]
<br />4.50
<br />Interest
<br />Rate
<br />WHEREAS, Ordinance No. 2870-05 provides that the 2005 Bonds maturing on and after
<br />December 1, 2016 (the "2005 Refimded Bonds") may be redeemed in whole, or in part, on any
<br />date on and after December 1, 2015 at par; and
<br />WHEREAS, it appears that the 2003 Bonds and the 2005 Refunded Bonds (together, the
<br />"Refunded Bonds") may be refunded with the proceeds of water and sewer revenue refunding
<br />bonds (the "Bonds"), thereby realizing savings in debt service for the benefit of the City's
<br />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 />WHEREAS, it appears to the City Council (the "Council") of the City that such
<br />conditions can be met and that it is in the best interests of the City and its inhabitants that the
<br />Bonds be issued on a parity with the outstanding water and sewer revenue bonds of the City; and
<br />6
<br />-3-
<br />P:\20287_CMWQ0287 9RC 01/02/13
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