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If any provisions of this Terms of Proposal corer flirt with information provided by PARIT 8, this Terms of Proposal shall control. Fulrthar information aboult PARIT 8, incluldinq any fee charged, may be obtained from: PARITY0, 13i59 Broadway, 2 nd Floor, N�ew York, N�ew York 100 18 Custo rrr 849-5000 The Bonds will be dated December 1, 20117 as the data of original issula, and will bear interest payable on (March 1 and September 1 of each year, commencing September 1, 2012. Interest will be cornpultad on the basis of a 3 C -day year of twelve 3,0-day months. The Bonds will matulra (March 1 in the years and amounts* as follows: 2014 $565)000 2018i $605)000 2022 $675)000 2026 $755)0011 2015 $575)000 2019 $625)000 2023 $690)000 2027 $780)00111 2016 $58i5)000 2020 $640)000 2024 $715)000 2028i $805)001 2017 $595)000 2021 $6557000 2025 $7357000 The reserves r after propo are pr r and prior t o award, increase or reduce r principal successful reduction will be made in multiples of $5, 000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the bidder r increased or reduced ! percentage r r to percentage r r by which principal Proposals for the Bonds may contain a matulrity schadulla providing for a combination of serial bonds and term bonds. All term bonds shall be sulbjact to mandatory sinking fulnd redemption at a price of par plugs accrulad interest to the data of redemption and mulct conform to the matulrity schadulla sat forth above. In order to designate term bonds, the proposal mulct specify "Years of Term (Maturities" in the spaces provided on the Proposal Form. BOOK ENTRY SYSTEM The Bonds will be issuled by means of a book entry system with no physical distribution of Bonds made to the pulblic. The Bonds will be issuled in fullly registered form and one Bond, representing the aggregate principal amount of the Bonds matulrinq in each year, will be registered in the name of Cede & Co. as nominee of The Depository Truest Company ("DTC"'), New York, New York, which will act as securities depository of the Bonds. Individual pulrchases of the Bonds may be made in the principal arnoulnt of $5,000 or any mulltiple thereof of a single matulrity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the registrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The pulrchaser, as a condition of delivery of the Bonds, will be requlired to deposit the Bonds with DTC. REGISTRAR The Finance Director of the City will serve as registrar. The City may elect on (March 1, 2021, and on any day thereafter, to prepay Bonds dine on or after (March 1, 2022. Redemption may be in whole or in part and if in part at the option of the City and in such manner as the City shall determine. If less than all Bonds of a matulrity are SNOW=