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failure in the proper operation of, or have any liability for any delays or interruptions of or any damages caused by the services of PARITY®. The City is using the services of PARITY® solely as a communication mechanism to conduct the electronic bidding for the Series 2016A Bonds, and PARITY®is not an agent of the City. If any provisions of this Terms of Proposal conflict with information provided by PARITY®,this Terms of Proposal shall control. Further information about PARITY®, including any fee charged, may be obtained from: PARITY®, 1359 Broadway, 2nd Floor,New York,New York 10018 Customer Support: (212) 849-5000 DETAILS OF THE SERIES 2016A BONDS The Series 2016A Bonds will be dated as of the date of delivery and will bear interest payable on February 1 and August 1 of each year, commencing February 1, 2017. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Series 2016A Bonds will mature February 1 in the years and amounts*as follows: 2019 $465,000 2023 $495,000 2027 $535,000 2031 $595,000 2034 $645,000 2020 $470,000 2024 $505,000 2028 $550,000 2032 $610,000 2035 $665,000 2021 $480,000 2025 $515,000 2029 $565,000 2033 $630,000 2036 $685,000 2022 $485,000 2026 $525,000 2030 $580,000 * The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Series 2016A Bonds or the amount of any maturity in multiples of$5,000. In the event the amount of any maturity is modified, the aggregate purchase price will be adjusted to result in the same gross spread per$1,000 of Series 2016A Bonds as that of the original proposal. Gross spread is the differential between the price paid to the City for the new issue and the prices at which the securities are initially offered to the investing public. Proposals for the Series 2016A Bonds may contain a maturity schedule providing for a combination of serial bonds and term bonds. All term bonds shall be subject to mandatory sinking fund redemption at a price of par plus accrued interest to the date of redemption scheduled to conform to the maturity schedule set forth above. In order to designate term bonds, the proposal must specify "Years of Term Maturities" in the spaces provided on the proposal form. BOOK ENTRY SYSTEM The Series 2016A Bonds will be issued by means of a book entry system with no physical distribution of Series 2016A Bonds made to the public. The Series 2016A Bonds will be issued in fully registered form and one Series 2016A Bond, representing the aggregate principal amount of the Series 2016A Bonds maturing in each year, will be registered in the name of Cede & Co. A-2 479050v1 JSB EL185-41