Page 103 - 2018 Village Ordinance Book 122818

Principal Interest Principal Interest
Amount Rate
Year Amount Rate Year

2020 $220,000 4.00% 2025 $295,000 2.55%
2021 215,000 4.00 2026 300,000 2.65
2022 245,000 4.00 2027 305,000 2.75
2023 290,000 4.00 2028 310,000 2.80
2024 295,000 4.00

6. The Purchaser’s bid complies with all terms of the Notice to Bidders and
the Notice of Sale.

7. The Issuer has taken all actions required by law and has the power to sell
and issue the Obligations.

8. The Governing Body is adopting this resolution to sell the Obligations and
provide for their issuance upon the terms and conditions set forth in this resolution.

RESOLUTIONS

The Governing Body resolves as follows:

Section 1. Definitions.

In this resolution, the following terms have the meanings given in this section,
unless the context clearly requires another meaning.

“Book-Entry System” means a system in which no physical distribution of
certificates representing ownership of the Obligations is made to the owners of the Obligations
but instead all outstanding Obligations are registered in the name of a securities depository
appointed by the Issuer, or in the name of such a depository’s nominee, and the depository and
its participants record beneficial ownership and effect transfers of the Obligations electronically.

“Code” means the Internal Revenue Code of 1986, as amended.

“Continuing Disclosure Agreement” means the Continuing Disclosure
Agreement, dated as of the Original Issue Date, to be executed by the Issuer and delivered on the
closing date of the Obligations.

“Debt Service Fund” means the fund created by the Issuer pursuant to Section
67.11 of the Wisconsin Statutes to provide for the payment of debt service on its general
obligations.

“Debt Service Fund Account” has the meaning set forth in Section 16 hereof.

“Depository” means DTC or any successor appointed by the Issuer and acting as
securities depository for the Obligations.

“DTC” means The Depository Trust Company.

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