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<br />Section 1. That for the purpose of paying the costs <br /> <br />and expenses of supplying the City with water by the extension <br /> <br />and improvement of the waterworks system of the City of Louisville, <br /> <br />the City shall issue its negotiable coupon bonds, designated <br /> <br />"General Obligation Water Bond", in the principal amount of <br /> <br />$300,000, dated October 1# 1971, payable in lawful money of the <br /> <br />United States of America, consisting of 60 bonds in the denomination <br /> <br />of $5,000 each, numbered 1 to 60, inclusive, bearing interest <br /> <br />payable on April 1, 1972, and semi-annually thereafter on the <br /> <br />1st day of April and the 1st day of October, each year, as <br /> <br />evidenced by interest coupons attached to said bonds, and shall <br /> <br />mature serially on October 1, as follows: <br /> <br />Amount Haturity Interest Rate <br />$ 5,000, 1972 to 1975, inc!. 5% <br />20,000 1976 5% <br />5,000 1977 and 1978 5% <br />30,000 1979 5% <br />40,000 1980 and 1981 5-1/2% <br />-45,000 1982 and 1983 5-1/2% <br />50,000 1984 5-3/4% <br /> <br />of bonds is <br /> <br />The net effective interest rate of this issue <br />5 \ 4(, % per annum. <br /> <br />Bonds of this issue maturins on or before October <br /> <br />1, 1981 shall not be redeemable prior to their respective maturity <br /> <br />dates. Those bonds maturing in the years 1982 and thereafter, are <br /> <br />redeemable at the option of the City on October 1, 1981 and on in- <br /> <br />terest payment dates thereafter, in inverse numerical order, upon <br /> <br />payment of par, accrued interest and a premium of 1% of principal. <br /> <br />Said bonds and the interest coupons attached thereto <br /> <br />shall be payable at the office of the City Treasurer, in Louisville,' <br /> <br />Colorado. <br /> <br />- 3 - <br />