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<br /> Pursuant to Ordinance No. 8919-98 adopted by the Common Council on June 22, 1998
<br /> (the "1998 Ordinance"), the City has heretofore issued revenue bonds payable from the Net
<br /> Revenues (as defined below) of the Sewage Works, such bonds being designated as "Sewage
<br /> Works Refunding Revenue Bonds of 1998" (the "1998 Bonds"), outstanding after December 1,
<br /> 2011, in the amount of$10,865,000, and maturing on December 1, 2018.
<br /> Pursuant to Ordinance No. 9523-04 adopted by the Common Council on August 10, 2004
<br /> (the "2004 Ordinance"), the City has heretofore issued sewage works bonds payable from the
<br /> Net Revenues of the Sewage Works, designated as "Sewage Works Revenue Bonds of 2004"
<br /> (the "2004 Bonds"), outstanding after December 1, 2011, in the amount of $8,465,000, and
<br /> maturing on December 1, 2024.
<br /> Pursuant to Ordinance No. 9672-06 adopted by the Common Council on April 11, 2006,
<br /> as amended by Ordinance No. 9767-07 adopted by the Common Council on June 25, 2007
<br /> (collectively, the "2006 Ordinance"), the City has heretofore issued revenue bonds payable from
<br /> the Net Revenues of the Sewage Works, such bonds being designated as (i) "Sewage Works
<br /> Revenue Bonds of 2006" (the "2006 Bonds"), outstanding after December 1, 2011, in the
<br /> amount of$6,745,000, and maturing on December 1, 2026; (ii) "Sewage Works Revenue Bonds
<br /> of 2007" (the "2007 Bonds"), outstanding after December 1, 2011, in the amount of
<br /> $14,305,000, and maturing on December 1, 2027; and (iii) "Sewage Works Revenue Bonds of
<br /> 2007 B" (the "2007B Bonds"), outstanding after December 1, 2011, in the amount of
<br /> $14,240,000, and maturing on December 1, 2027.
<br /> Pursuant to Ordinance No. 9951-09 adopted by the Common Council on August 10,
<br /> 2009, as amended by Ordinance No. 9971-09 adopted by the Common Council on October 26,
<br /> 2009 (collectively, the "2009 Ordinance"), the City has heretofore issued revenue bonds payable
<br /> from the Net Revenues of the Sewage Works, designated as "Sewage Works Revenue Bonds of
<br /> 2009" (the "2009 Bonds"), outstanding after December 1, 2011, in the amount of $3,029,211,
<br /> and maturing on December 1, 2028.
<br /> Pursuant to Ordinance No. 10052-10 adopted by the Common Council on November 8,
<br /> 2010 (the "2010 Ordinance"), the City has heretofore issued revenue bonds payable from the Net
<br /> Revenues of the Sewage Works, designated as "Sewage Works Revenue Bonds of 2010" (the
<br /> "2010 Bonds"), outstanding after December 1, 2011, in the amount of$8,980,000, and maturing
<br /> on December 1, 2030.
<br /> Pursuant to Ordinance No. 10118-11 adopted by the Common Council on September 12,
<br /> 2011 (the "2011 Ordinance" and with the 1998 Ordinance, the 2004 Ordinance, the 2006
<br /> Ordinance, the 2009 Ordinance and the 2010 Ordinance, the "Prior Ordinances"), the City has
<br /> heretofore issued revenue bonds payable from the Net Revenues of the Sewage Works,
<br /> designated as "Sewage Works Revenue Bonds of 2011" (the "2011 Bonds" and with the 1998
<br /> Bonds, 2004 Bonds, 2006 Bonds, 2007 Bonds, 2007B Bonds, 2009 Bonds and 2010 Bonds, the
<br /> "Prior Bonds"), outstanding after December 1, 2011, in the amount of $21,500,000, and
<br /> maturing on December 1, 2031.
<br /> The Prior Ordinances permit the issuance of additional revenue bonds ranking on a
<br /> parity basis with the Prior Bonds for the purpose of financing the costs of future additions,
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