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<br />for any delays or interruptions of or any damages caused by the services of <br />P ARITY@. The City is using the services of P ARITY@ solely as a <br />communication mechanism to conduct the electronic bidding for the Bonds, and <br />PARlTY@ is not an agent of the City. <br /> <br />If any provisions of this T enns of Proposal conflict with information provided by P ARlTY@, this <br />Terms of Proposal shall control. Further information about PARlTY@, including any fee <br />charged, may be obtained from: <br /> <br />PARITY@, 1359 Broadway, 2nd Floor, New York, New York <br />10018 <br /> <br />Customer Support: (212) 849-5000 <br /> <br />DETAILS OF THE BONDS <br /> <br />The Bonds will be dated December 1, 2005, as the date of original issue, and will bear interest <br />payable on February 1 and August 1 of each year, commencing August 1,2006. Interest will be <br />computed on the basis of a 360-day year of twelve 30-day months. <br /> <br />The Bonds will mature February 1 in the years and amounts as follows: <br /> <br />2007 $395,000 <br />2008 $430,000 <br />2009 $445,000 <br />2010 $455,000 <br />2011 $475,000 <br />2012 $495,000 <br />2013 $510,000 <br />2014 $535,000 <br /> <br />*The City reserves the right, after proposals are opened and prior to award, to increase or <br />reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will <br />be made in multiples of $5, 000 in any of the maturities. In the event the principal amount of <br />the Bonds is. increased or reduced, any premium offered or any discount taken by the <br />successful bidder will be increased or reduced by a percentage equal to the percentage by <br />which the principal amount of the Bonds is increased or reduced <br /> <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 <br />and must conform to the maturity schedule set forth above at a price of par plus accrued interest <br />to the date of redemption. In order to designate term bonds, the proposal must specify "Years of <br />Term Maturities" in the spaces provided on the Proposal Form. <br /> <br />BOOK ENTRY SYSTEM <br /> <br />The Bonds will be issued by means of a book entry system with no physical distribution of <br />Bonds made to the public. The Bonds will be issued in fully registered form and one Bond, <br /> <br />A-2 <br /> <br />I 8 19098v I <br />