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and shall mature on such dates and in such amounts as the Chief Financial Officer may approve, <br /> <br />provided that the aggregate principal amount of the Bonds shall not exceed the amount set forth <br /> <br />in paragraph I and the final maturity December 1, 2028. The City Manager and the Chief <br /> <br />Financial Officer, or either of them, is authorized and directed to execute and deliver one or more <br /> <br />Bond Purchase Agreements providing for the sale of the Bonds to an underwriter or group of <br /> <br />underwriters, with demonstrated experience in underwriting municipal securities to be selected <br /> <br />by the City Manager and the Chief FinanciaI Officer, or either of them, upon such terms as such <br /> <br />officer deems most advantageous. The Bonds shall bear interest, payable semi-annually, at such <br /> <br />rate or rates and shall be sold to the underwriter at such price or prices as may be set forth in the <br /> <br />Bond Purchase Agreement(s) approved by such officer or officers; provided that the true interest <br /> <br />cost of the Bonds shall not exceed 7.5% per annum and the purchase price shall be not less than <br /> <br />97% of the par amount of the Bonds, not taking into account any original issue discount or any <br /> <br />bond insurance premium. The City Manager and the Chief Financial Officer, or either of them, <br /> <br />is authorized and directed to approve such optional or mandatory redemption provisions for the <br /> <br />Bonds as such officer or officers may determine to be in the best interest of the City. <br /> <br /> 4. Form of Bonds. The Bonds shall be in substantially the form attached to this <br /> <br />Resolution as Exhibit A, with such appropriate variations, omissions and insertions as are <br /> <br />permitted or required by this Resolution. There may be endorsed on the Bonds such legend or <br /> <br />text as may be necessary or appropriate to conform to any applicable rules and regulations of any <br /> <br />governmental authority or any usage or requirement of law with respect thereto. <br /> <br /> 5. Book-Entry-Only Form. The Bonds shall be issued in book-entry-only form. The <br /> <br />Bonds shall be issued in fully-registered form and registered in the name of Cede & Co.. as <br /> <br />nominee of The Depository Trust Company, New York. New York ("DTC") as registered owner <br /> <br /> <br />