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� �Y i'� � � Calculation of Assistance Needed: TI Revenue Bonds �. Every six months, the Redeveloper will submit an itemization of Eligible Costs incurred to the City for certification. 2. Annually, the Redeveloper will submit a cumulative-to-date Sources and Uses and also a projected Sources and Uses through completion of the Project so that, prior to each issuance of TI Revenue Bonds, the City can determine the level of assistance needed based on an agreed-upon Redeveloper margin (see below). 3. By December 31 � the �rst full assessment year following completion of the Project (the "Reconciliation Date"), the Redeveloper will submit a Project Sources and Uses for a final accounting by the City and the Redeveloper of the level of assistance needed for the entire Project, including the Redeveloper's margin discussed further below. The City intends to issue TI Revenue Bonds as follows: + Bonds will be either taxable or tax exempt as allowed by law in amounts that meet reasonable underwriting standards and upon terms then available in the public marketplace. ■ Bond proceeds may only be used to reimburse Eligible Costs incurred by the Redeveloper and certified by the City. ■ Bonds may be issued without additional security in the fourth quarter of each year (subject to underwriting criteria) with respect to Minimum Improvements completed by December 31 of the prior year and assessed on January 2 of the current year. Issuance of the TI Revenue Bonds earlier will require security as determined by the underwriters of the Bonds. TI Revenue Bonds payable from tax increment generated by the hazardous substance subdistrict proposed to the created will be issued as early as possible consistentwith underwriting standards. � The 5% City administration fee will be subordinated to provide additional coverage for issuance of the TI Revenue Bonds. ■ The TI Revenue Bonds will be issued on a parity basis, will be payable only from tax increment and will not be a general obligation of the City, County, State or any other political subdivision. TI Revenue Notes: The following terms will be applicable to the TI Revenue Note(s): • Principal amount to be detei7nin�d and Notes issued upon certification of Eligible Costs in accordance with a schedule set forth in the Redevelopment Agreement to reimburse Eligible Costs incurred by the Redeveloper • Term coterminous with duration of the TIF district �