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; provided that, subject to the limitations set forth in Sections 1 and 2 and subsection (c) of this
<br />Section 3, the principal amount of Bonds payable on any one or more of the Principal Payment
<br />Dates may be increased or decreased as specified by the Mayor and the Director of Finance in the
<br />Certificate of Award, consistently with their determination of the best interest of and financial
<br />advantages to the City.
<br />Consistently with the foregoing and in accordance with their determination of the
<br />amount needed for the purpose set forth in Section 2 and the best interest of and financial
<br />advantages to the City, the Mayor and the Director of Finance shall specify in the Certificate of
<br />Award (i) the aggregate principal amount of Bonds to be issued, (ii) the aggregate principal amount
<br />of Bonds to be issued as Current Interest Bonds, (iii) the aggregate principal amount of Current
<br />Interest Bonds to be issued as Current Interest Serial Bonds, the Principal Payment Dates on which
<br />those Bonds shall be stated to mature and the principal amount thereof that shall be stated to mature
<br />on each such Principal Payment Date, (iv) the aggregate principal amount of Current Interest Bonds
<br />to be issued as Term Bonds, the Principal Payment Date or Dates on which those Bonds shall be
<br />stated to mature, the principal amount thereof that shall be stated to mature on each such Principal
<br />Payment Date, the Principal Payment Date or Dates on which Term Bonds shall be subject to
<br />mandatory sinking fund redemption (Mandatory Redemption Dates) and the principal amount
<br />thereof that shall be payable pursuant to Mandatory Sinking Fund Redemption Requirements on
<br />each Mandatory Redemption Date, and (v) the aggregate principal amount of any Bonds to be
<br />issued as Capital Appreciation Bonds and the corresponding aggregate Maturity Amount thereof,
<br />the Principal Payment Date or Dates on which any such Bonds shall be stated to mature, and the
<br />principal amount and corresponding Maturity Amount thereof that shall be payable on each such
<br />Principal Payment Date.
<br />(c) Conditions for Establishment of Interest Rates and Principal Payment Dates and
<br />Amounts. The rate or rates of interest per year to be borne by the Current Interest Bonds and the
<br />compounding rate or rates of interest per year to be borne by any Capital Appreciation Bonds, and
<br />the principal amount of Current Interest Bonds maturing or payable pursuant to Mandatory Sinking
<br />Fund Redemption Requirements on each Principal Payment Date and the Maturity Amount of any
<br />Capital Appreciation Bonds payable on each Principal Payment Date, shall be such that the total
<br />amount of principal and interest payments on the Bonds in any fiscal year in which principal is
<br />payable is not more than three times the total amount of those payments in any other such fiscal
<br />year. The weighted average of the rate or rates of interest per year to be borne by the Bonds,
<br />determined by taking into account the respective principal amounts of the Bonds and terms to
<br />maturity or mandatory redemption, as applicable, of those principal amounts of Bonds, shall not
<br />exceed 5% per year.
<br />Principal
<br />Principal
<br />Year
<br />Amount
<br />Year
<br />Amount
<br />2018
<br />$ 65,000
<br />2023
<br />$ 75,000
<br />2019
<br />65,000
<br />2024
<br />75,000
<br />2020
<br />70,000
<br />2025
<br />75,000
<br />2021
<br />70,000
<br />2026
<br />75,000
<br />2022
<br />70,000
<br />2027
<br />80,000
<br />; provided that, subject to the limitations set forth in Sections 1 and 2 and subsection (c) of this
<br />Section 3, the principal amount of Bonds payable on any one or more of the Principal Payment
<br />Dates may be increased or decreased as specified by the Mayor and the Director of Finance in the
<br />Certificate of Award, consistently with their determination of the best interest of and financial
<br />advantages to the City.
<br />Consistently with the foregoing and in accordance with their determination of the
<br />amount needed for the purpose set forth in Section 2 and the best interest of and financial
<br />advantages to the City, the Mayor and the Director of Finance shall specify in the Certificate of
<br />Award (i) the aggregate principal amount of Bonds to be issued, (ii) the aggregate principal amount
<br />of Bonds to be issued as Current Interest Bonds, (iii) the aggregate principal amount of Current
<br />Interest Bonds to be issued as Current Interest Serial Bonds, the Principal Payment Dates on which
<br />those Bonds shall be stated to mature and the principal amount thereof that shall be stated to mature
<br />on each such Principal Payment Date, (iv) the aggregate principal amount of Current Interest Bonds
<br />to be issued as Term Bonds, the Principal Payment Date or Dates on which those Bonds shall be
<br />stated to mature, the principal amount thereof that shall be stated to mature on each such Principal
<br />Payment Date, the Principal Payment Date or Dates on which Term Bonds shall be subject to
<br />mandatory sinking fund redemption (Mandatory Redemption Dates) and the principal amount
<br />thereof that shall be payable pursuant to Mandatory Sinking Fund Redemption Requirements on
<br />each Mandatory Redemption Date, and (v) the aggregate principal amount of any Bonds to be
<br />issued as Capital Appreciation Bonds and the corresponding aggregate Maturity Amount thereof,
<br />the Principal Payment Date or Dates on which any such Bonds shall be stated to mature, and the
<br />principal amount and corresponding Maturity Amount thereof that shall be payable on each such
<br />Principal Payment Date.
<br />(c) Conditions for Establishment of Interest Rates and Principal Payment Dates and
<br />Amounts. The rate or rates of interest per year to be borne by the Current Interest Bonds and the
<br />compounding rate or rates of interest per year to be borne by any Capital Appreciation Bonds, and
<br />the principal amount of Current Interest Bonds maturing or payable pursuant to Mandatory Sinking
<br />Fund Redemption Requirements on each Principal Payment Date and the Maturity Amount of any
<br />Capital Appreciation Bonds payable on each Principal Payment Date, shall be such that the total
<br />amount of principal and interest payments on the Bonds in any fiscal year in which principal is
<br />payable is not more than three times the total amount of those payments in any other such fiscal
<br />year. The weighted average of the rate or rates of interest per year to be borne by the Bonds,
<br />determined by taking into account the respective principal amounts of the Bonds and terms to
<br />maturity or mandatory redemption, as applicable, of those principal amounts of Bonds, shall not
<br />exceed 5% per year.
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