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E. WHEREAS, the following offers were received, opened and recorded at the offices of Springsted Incorporated at 12 : 00 Noon, this same day: Bidder Interest Rate Net Interest Cost NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hastings, Minnesota, as follows : 1 . Acceptance of Offer. The offer of (the "Purchaser" ) , to purchase $3 , 380, 000 General Obligation Improvement Bonds, Series 2000A of the City (the "Bonds" , or individually a "Bond") , in accordance with the terms of proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable offer received and is hereby accepted, and the Bonds are hereby awarded to the Purchaser. The Clerk is directed to retain the deposit of said Purchaser and to forthwith return to the others making offers their good faith deposits. 2 . Terms of Bonds. (a) Title: Original Issue Date; Denominations ; Maturities; Term Bonds. The Bonds shall be titled "General Obligation Improvement Bonds, Series 2000A" , shall be dated September 1, 2000, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds . The Bonds shall be numbered from R-1 upward in the denomination of $5, 000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on February 1 in the years and amounts as follows: Year Amount Year Amount 2002 $ 95, 000 2007 $335, 000 2003 340, 000 2008 340, 000 2004 325, 000 2009 340, 000 2005 330, 000 2010 345, 000 2006 335, 000 2011 330, 000 265, 000 As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final 1194249.1 2