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DETAILS OF THE SERIES 2021B BONDS
<br />The Series 2021B Bondswill be dated as of the date of deliveryand will bear interest payable on February1
<br />and August 1 of each year, commencing February 1, 2022. Interest will be computed on the basis of a 360-
<br />day year of twelve 30-day months.
<br />The Series 2021B Bonds will matureAugust 1in the years and amounts*as follows:
<br />2022$290,0002028$355,0002034$390,0002040$435,0002046$500,000
<br />2023$345,0002029$360,0002035$395,0002041$445,0002047$510,000
<br />2024$345,0002030$365,0002036$400,0002042$455,0002048$520,000
<br />2025$350,0002031$370,0002037$410,0002043$465,0002049$535,000
<br />2026$350,0002032$375,0002038$420,0002044$475,0002050$550,000
<br />2027$355,0002033$380,0002039$425,0002045$485,0002051$565,000
<br />*
<br />The Cityreserves the right, after proposals are opened and prior to award, to increase or reduce the principal
<br />amount of the Series 2021B Bondsor the amount of any maturity or maturities in multiples of $5,000. In the
<br />event the amount of any maturity is modified, the aggregate purchase price will be adjusted to result in the same
<br />gross spread per $1,000 of Series 2021B Bondsas that of the original proposal. Gross spread for this purpose
<br />is the differential between the price paid to the Cityfor 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 Series 2021B Bondsmay contain a maturity schedule providing for a combination of
<br />serial 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 schedule
<br />set forth above. In order to designate term bonds, the proposal must specify “Years of Term Maturities” in
<br />the spaces provided on the proposal form.
<br />BOOK ENTRY SYSTEM
<br />The Series 2021B Bondswill be issued by means of a book entry system with no physical distribution of
<br />Series 2021B Bondsmade to the public. The Series 2021B Bondswill be issued in fully registered form
<br />and one Bond, representing the aggregate principal amount of the Series 2021B Bondsmaturing in each
<br />year, will be registered in the name of Cede & Co. as nominee of The Depository Trust Company (“DTC”),
<br />New York, New York, which will act as securities depository for the Series 2021B Bonds. Individual
<br />purchases of the Series 2021B Bondsmay be made in the principal amount of $5,000 or any multiple thereof
<br />of a single 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 the Series
<br />2021B Bonds. Transfer of principal and interest payments to participants of DTC will be the responsibility
<br />of DTC; transfer of principal and interest payments to beneficial owners by participants will be the
<br />responsibility of such participants and other nominees of beneficial owners. The lowest bidder (the
<br />“Purchaser”), as a condition of delivery of the Series 2021B Bonds, will be required to deposit the Series
<br />2021B Bonds with DTC.
<br />REGISTRAR
<br />U.S. Bank National Association will serve as registrar for the Series 2021B Bonds which shall be subject
<br />to applicable regulations of the Securities and Exchange Commission. The City will pay for the services
<br />of the registrar.
<br />OPTIONAL REDEMPTION
<br />The Citymay elect on August1, 2031, and on any day thereafter, to redeem Series 2021B Bondsdue on or
<br />after August 1, 2032. Redemption may be in whole or in part and if in part at the option of the Cityand in
<br />such manner as the Cityshall determine. If less than all Series 2021B Bondsof a maturity are called for
<br />redemption, the Citywill notify DTC of the particular amount of such maturity to be redeemed. DTC will
<br />determine by lot the amount of each participant's interest in such maturity to be redeemed and each
<br />participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. All
<br />redemptions shall be at a price of par plus accrued interest.
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