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Years of <br />Stated Maturitv <br />2022 <br />2023 <br />2024 <br />2025 <br />2026 <br />2027 <br />2028 <br />2029 <br />2030 <br />2031 <br />2032 <br />Principal <br />Amounts ($) <br />67,753.50 <br />70,246.83 <br />72,831.92 <br />75,512.13 <br />78,290.98 <br />81,172.08 <br />84,159.22 <br />87,256.28 <br />90,467.31 <br />93,796.50 <br />97,248.22 <br />Interest <br />Amounts ($) <br />33,073.45 <br />30,580.12 <br />27,995.03 <br />25,314.82 <br />22,535.97 <br />19,654.87 <br />16,667.73 <br />13,570.67 <br />10,359.64 <br />7,030.45 <br />3,578.73 <br />Interest <br />Rates % <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />3.68 <br />The City's payment obligations pursuant to the SIB Loans shall bear interest on the <br />unpaid principal amounts from the Closing Date, or from the most recent Interest Payment Date <br />to which interest has been paid or duly provided for, to Stated Maturity or prior prepayment, at <br />the rates per annum shown in the above schedule (calculated on the basis of a 360-day year of <br />twelve 30-day months). Interest shall be payable on March 29 in each year, commencing <br />March 29, 2013 (the Interest Payment Date). <br />SECTION 3: Payment Obli�ation Currencv. The City Obligations pursuant to the <br />Interlocal Cooperative Agreement, due and payable by reason of Stated Maturity, prepayment, or <br />otherwise, shall be payable in any coin or currency of the United States of America which at the <br />time of payment is legal tender for the payment of public and private debts. <br />SECTION 4: Definitions. For all purposes of this Ordinance (as defined below), except <br />as otherwise expressly provided or unless the context otherwise requires: (i) the terms defined in <br />this Section have the meanings assigned to them in this Section, and all such terms include the <br />plural as well as the singular; (ii) all references in this Ordinance to designated "Sections" and <br />other subdivisions are to the designated Sections and other subdivisions of this Ordinance as <br />originally adopted; and (iii) the words "herein", "hereof ', and "hereunder" and other words of <br />similar import refer to this Ordinance as a whole and not to any particular Section or other <br />subdivision. <br />A. The term Authorized Officials shall mean the Mayor, City Manager, Director of <br />Finance, and/or the City Secretary. <br />B. The term Bond Fund shall mean the special Fund created and established by the <br />provisions of Section 5 of this Ordinance. <br />C. The term Ciry shall mean City of Paris, located in the County of Lamar, Texas <br />and, where appropriate, the City Council of the City. <br />� <br />The term Closing Date shall mean the Deposit Date, as defined in the SIB Loans. <br />95604560.7 '4- <br />