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2 <br />4854-7635-7637.1 <br />1.03. Execution of Documents; Good Faith Deposit. The Mayor, the City <br />Administrator, City Clerk and the Finance Director (including anyone authorized to act on his or <br />her behalf, the “Authorized Officers”), or each individually, is authorized and directed to endorse <br />an acceptance on both copies of the most favorable proposal and to send one copy to the Purchaser. <br />The Finance Director is directed to deposit the good faith deposit of the Purchaser, specified in the <br />Terms of Offering, pending delivery of the Bonds and payment therefor. <br />1.04. Compliance with the Laws. All acts, conditions and things required by the <br />Constitution and laws of the State of Minnesota to be done, to happen and to be performed <br />precedent to the issuance of the Bonds having been done, having happened and having been <br />performed in regular and due form, time and manner as required by law, the City Council hereby <br />finds and determines that it is necessary for this City Council to provide for the issuance, sale and <br />deliver of the Bonds, to establish the form and terms of the Bonds and to provide for the payment <br />and the security thereof. <br />ARTICLE II <br />AUTHORIZATION; BOND TERMS; REGISTRATION; EXECUTION AND DELIVERY <br /> <br />2.01. Authorization and Designation. The City Council hereby authorizes the issuance <br />of its General Obligation Capital Improvement Bonds, Series 2021A under the terms provided in <br />this resolution. <br /> <br />2.02. Maturities, Interest Rates and Denominations. The Bonds shall be originally <br />dated their date of original issue and delivery (December 30, 2021), shall be issued and sold in <br />denominations of $5,000 or any integral multiple thereof within a single maturity, shall mature on <br />December 20 in the years and amounts set forth below and shall bear interest at the rates per annum <br />set forth below opposite such years and amounts from their date of original issue or from the most <br />recent Interest Payment Date to which interest has been paid or duly provided for until paid or duly <br />called for redemption (if any), as follows: <br /> <br />Maturity Date <br /> (December 20) <br /> <br />Principal Amount <br /> <br />Interest Rate <br />2023 $ 420,000 % <br />2024 420,000 <br />2025 425,000 <br />2026 430,000 <br />2027 435,000 <br />2028 445,000 <br />2029 450,000 <br />2030 455,000 <br />2031 465,000 <br />2032 475,000 <br />2033 485,000 <br />2034 495,000 <br />2035 505,000 <br />2036 515,000