Resolutions-2018-023

Date Principal Interest Rate 2038 $1,100,000 4.00% Section 3. Bankers Trust Company, Des Moines, Iowa, is hereby designated as the Registrar and Paying Agent for the Bonds and may be hereinafter referred to as the “Registrar” or the “Paying Agent.” The City shall enter into an agreement (the “Registrar/Paying Agent Agreement”) with the Registrar, in substantially the form as has been placed on file with the City Council; the Mayor and City Clerk are hereby authorized and directed to sign the Registrar/Paying Agent Agreement on behalf of the City; and the Registrar/Paying Agent Agreement is hereby approved. The City reserves the right to optionally prepay part or all of the Bonds maturing on June 1, 2038, inclusive, prior to and in any order of maturity on June 1, 2026, or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed, the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of $5,000. Principal of the Bond maturing on June 1, 2038 is subject to mandatory redemption (by lot, as selected by the Registrar) on June 1 in each of the years 2019 through 2037, inclusive, at a redemption price of 100% of the principal amount thereof to be redeemed, plus accrued interest thereon to the redemption date, in the following principal amounts: <table> <tr> <th>Year</th> <th>Principal Amount</th> </tr> <tr><td>2019</td><td>$30,000</td></tr> <tr><td>2020</td><td>$40,000</td></tr> <tr><td>2021</td><td>$40,000</td></tr> <tr><td>2022</td><td>$40,000</td></tr> <tr><td>2023</td><td>$45,000</td></tr> <tr><td>2024</td><td>$45,000</td></tr> <tr><td>2025</td><td>$45,000</td></tr> <tr><td>2026</td><td>$50,000</td></tr> <tr><td>2027</td><td>$50,000</td></tr> <tr><td>2028</td><td>$55,000</td></tr> <tr><td>2029</td><td>$55,000</td></tr> <tr><td>2030</td><td>$55,000</td></tr> <tr><td>2031</td><td>$60,000</td></tr> <tr><td>2032</td><td>$60,000</td></tr> <tr><td>2033</td><td>$65,000</td></tr> <tr><td>2034</td><td>$65,000</td></tr> <tr><td>2035</td><td>$70,000</td></tr> <tr><td>2036</td><td>$75,000</td></tr> <tr><td>2037</td><td>$75,000</td></tr> <tr><td>2038</td><td>$80,000 (Maturity)</td></tr> </table>