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of PARITY`S solely as a communication mechanism to conduct the electronic bidding for the
<br />Bonds, and PARITY° is not an agent of the City.
<br />If any provisions of this Terms of Proposal conflict with information provided by PARITY', this
<br />Terms of Proposal shall control. Further information about PARITY, including any fee charged,
<br />may be 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 June 1 and
<br />December 1 of each year, commencing June 1, 2020. Interest .will be computed on the basis of a
<br />360 -day year of twelve 30 -day months.
<br />The Bonds willmature December 1 in the years and amounts* as follows:
<br />2021
<br />$605,000
<br />2025
<br />$1,015,000
<br />2030
<br />$1,240,000
<br />2035
<br />$1,190,000
<br />2040
<br />$1,740,000
<br />2022
<br />$870,000
<br />2026
<br />$1,060,000
<br />2031
<br />$1,285,000
<br />2036
<br />$1,535,000
<br />2041
<br />$1,795,000
<br />2022
<br />$905,000
<br />2027
<br />$1,100,000
<br />2032
<br />$1,340,000
<br />2037
<br />$1,585,000
<br />2042
<br />$1,855,000
<br />2023
<br />$940,000
<br />2029
<br />$1,145,000
<br />2033
<br />$1,390,000
<br />2038
<br />$1,630,000
<br />2043
<br />$1,920,000
<br />2024
<br />$980,000
<br />2029
<br />$1,190,000
<br />2034
<br />$1,450,000
<br />2039
<br />$1,685,000
<br />2044
<br />$1,985,000
<br />* The City reserves the right, of er proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds or the
<br />amount of any maturity or maturities in multiples of ,$3,000. In the event the amount of any maturity is modified, the aggregate
<br />purchase price will be adjusted to result in the same gross spread per $1,000 of Bonds as that of the origina1propoxaZ Gross spread for
<br />°—• tbis purpose is the differential between the price paid to the City for the nese issue and the prices at which the proposal indicates the
<br />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
<br />bonds and term bonds. All term bonds shall be subject to mandatory sinking fund redemption at a
<br />price of par plus accrued interest to the date of redemption scheduled to conform to the maturity
<br />schedule set forth above. In order to designate term bonds, the proposal must specify "Years of
<br />Term Maturities" in the spaces 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
<br />made to the public. The Bonds will be issued in fully registered form and one Bond, representing
<br />the aggregate principal amount of the Bonds maturing in each year, will be registered in the name of
<br />Cede & Co. as nominee of The Depository Trust Company ("DTC"), New York, New York, which
<br />will act as securities depository for the Bonds. Individual purchases of the Bonds may be made in
<br />the principal amount of $5,000 or any multiple thereof of a single maturity through book entries
<br />made on the books and records of DTC and its participants. Principal and interest are payable by
<br />the registrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal and
<br />interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and
<br />interest payments to beneficial owners by participants will be the responsibility of such participants
<br />and other nominees of beneficial owners. The lowest bidder (the "Purchaser"), as a condition of
<br />0 delivery of the Bonds, will be required to deposit the Bonds with DTC.
<br />A-2
<br />589683v1EL185-44
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