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Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single <br />maturity through book entries made on the books and records of DTC and its participants. <br />Principal and interest are payable by the registrar to DTC or its nominee as registered owner of <br />the Series 2016B Bonds. Transfer of principal and interest payments to participants of DTC will <br />be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by <br />participants will be the responsibility of such participants and other nominees of beneficial <br />owners. The purchaser, as a condition of delivery of the Series 2016B Bonds, will be required to <br />deposit the Series 2016B Bonds with DTC. <br />REGISTRAR <br />The City will name the registrar which shall be subject to applicable SEC regulations. The City <br />will pay for the services of the registrar. <br />OPTIONAL REDEMPTION <br />The Series 2016E Bonds will not be subject to payment in advance of their respective stated <br />maturity dates. <br />SECURITY AND PURPOSE <br />The Series 2016B Bonds will be special obligations of the City payable solely from net revenues <br />of the electric system of the Commission and shall not constitute a debt for which the full faith <br />and credit or taxing powers of the City will be pledged. The proceeds will be used to refund the <br />February 1, 2017 through February 1, 2022 maturities of the City's Electric Revenue Bonds, <br />Series 2007A, dated March 28, 2007. <br />BIDDING PARAMETERS <br />Proposals shall be for not less than $1,449,780 plus accrued interest, if any, on the total principal <br />amount of the Series 2016B Bonds. No proposal can be withdrawn or amended after the time set <br />for receiving proposals unless the meeting of the City scheduled for award of the Series 2016B <br />Bonds is adjourned, recessed, or continued to another date without award of the Series 2016B <br />Bonds having been made. Rates shall be in integral multiples of 11100 or 118 of 1%.The initial <br />price to the public for each maturity must be 98.0% or greater. Series 2016B Bonds of the same <br />maturity shall bear a single rate from the date of the Series 2016B Bonds to the date of maturity. <br />No conditional proposals will be accepted. <br />GOOD FAITH DEPOSIT <br />To have its proposal considered for award, the lowest bidder is required to submit a good faith <br />deposit to the City in the amount of $14,600 (the "Deposit") no later than 1:00 P.M., Central <br />Time on the day of sale. The Deposit may be delivered as described herein in the form of either <br />(i) a certified or cashier's check payable to the City; or (ii) a wire transfer. The lowest bidder <br />shall be solely responsible for the timely delivery of their Deposit whether by check or wire <br />transfer. Neither the City nor Springsted Incorporated have any liability for delays in the receipt <br />A-3 <br />