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If any provisions of this Terms of Proposal conflict with information provided by PARITY®, this Terms
<br />of Proposal shall control. Further information about PARITY®, including any fee charged, may be
<br />obtained from:
<br />PARITY®, 1359 Broadway, 2nd Floor, New York, New York 10018
<br />Customer Support: (212) 849-5000
<br />DETAILS OF THE BONDS
<br />The Bonds will be dated as of the date of delivery and will bear interest payable on February I and
<br />August 1 of each year, commencing February 1, 2019. Interest will be computed on the basis of a 360 -
<br />day year of twelve 30 -day months.
<br />The Bonds will mature August 1 in the years and amounts* as follows:
<br />2019 $260,000 2025 $235,000 2031 $285,000 2037 $350,000 2043 $445,000
<br />2020 $210,000 2026 $240,000 2032 $295,000 2038 $365,000 2044 $460,000
<br />2021 $210,000 2027 $250,000 2033 $305,000 2039 $375,000 2045 $480,000
<br />2022 $215,000 2028 $255,000 2034 $315,000 2040 $390,000 2046 $500,000
<br />2023 $225,000 2029 $265,000 2035 $325,000 2041 $410,000 2047 $525,000
<br />2024 $230,000 2030 $275,000 2036 $335,000 2042 $425,000 2048 $545,000
<br />* The Ciry and the Commission reserve the right, after proposals are opened and prior to award, to increase or
<br />reduce the principal amount of the Bonds or the amount of any maturity or maturities in multiples of $5,000. In
<br />the event the amount of any maturity is modified, the aggregate purchase price will be adjusted to result in the
<br />same gross spread per $1,000 of Bonds as that of the original proposal. Gross spread for this purpose is the
<br />differential between the price paid to the City for the new issue and the prices at which the proposal indicates
<br />the securities will be initially offered to the investing public.
<br />Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds and
<br />term bonds. All term bonds shall be subject to mandatory sinking fund redemption at a price of par plus
<br />accrued interest to the date of redemption scheduled to conform to the maturity schedule set forth above.
<br />In order to designate term bonds, the proposal must specify "Years of Term Maturities" in the spaces
<br />provided on the proposal form.
<br />BOOK ENTRY SYSTEM
<br />The Bonds will be issued by means of a book entry system with no physical distribution of Bonds made
<br />to the public. The Bonds will be issued in fully registered form and one Bond, representing the aggregate
<br />principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as
<br />nominee of The Depository Trust Company ("DTC"), New York, New York, which will act as securities
<br />depository for the Bonds. Individual purchases of the Bonds may be made in the principal amount of
<br />$5,000 or any multiple thereof of a single maturity through book entries made on the books and records of
<br />DTC and its participants. Principal and interest are payable by the registrar to DTC or its nominee as
<br />registered owner of the Bonds. Transfer of principal and interest payments to participants of DTC will be
<br />the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants
<br />will be the responsibility of such participants and other nominees of beneficial owners. The lowest bidder
<br />(the "Purchaser"), as a condition of delivery of the Bonds, will be required to deposit the Bonds with
<br />DTC.
<br />REGISTRAR
<br />The City will name the registrar which shall be subject to applicable regulations of the Securities and
<br />Exchange Commission. The City will pay for the services of the registrar.
<br />A-3
<br />529086v1 JSB EL185-55
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