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<br />II mechanism to conduct the electronic bidding for the Bonds, and PARITY@ is not an
<br />II agent of the City,
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<br />Ii If any provisions of this Terms of Proposal conflict with information provided by
<br />II PARITY@, this Terms of Proposal shall control. Further information about PARITY@,
<br />Ii including any fee charged, may be obtained from:
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<br />ii PARITY@, 40 West 23rd Street, 5th Floor, New York City, New York 10010, Customer
<br />Support, (212) 404-8102.
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<br />DETAILS OF THE BONDS
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<br />ii The Bonds will be dated October 1, 2004, as the date of original issue, and will bear
<br />II interest payable on February I and August I of each year, commencing August 1, 2005.
<br />Ii Interest will be computed on the basis of a 360-day year of twelve 30-day months.
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<br />!I The Bonds will mature February 1 in the years and amounts as follows:
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<br />2006 $100,000
<br />2007 $145,000
<br />2008 $150.000
<br />il 2009 $155,000
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<br />2010
<br />2011
<br />2012
<br />2013
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<br />$165,000
<br />$175,000
<br />$185,000
<br />$190,000
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<br />2014
<br />2015
<br />2016
<br />2017
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<br />$160,000
<br />$345,000
<br />$ 80,000
<br />$115,000
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<br />2006 $100,000
<br />2007 $145,000
<br />2008 $150,000
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<br />\ i * The City reserves the right, after proposals are opened and prior to award, to increase or reduce
<br />Ii the principal amount of the Bonds offered for sale. Any such increase or reduction will be made in
<br />ii multiples of $5,000 in any of the maturities. In the event the principal amount afthe Bonds is increased or
<br />!: reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced
<br />;1 by a percentage equal to the percentage by which the principal amount of the Bonds is increased or
<br />: i reduced.
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<br />iiProposals for the Bonds may contain a maturity schedule providing for a combination of
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<br />ii serial bonds and term bonds. All term bonds shall be subject to mandatory sinking fund
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<br />i i redemption and must conform to the maturity schedule set forth above at a price of par
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<br />;iplus accrued interest to the date of redemption. In order to designate term bonds, the
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<br />ilproposal must specify "Years of Term Maturities" in the spaces provided on the Proposal
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<br />ilForm.
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<br />BOOK ENTRY SYSTEM
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<br />liThe Bonds will be issued by means of a book entry system with no physical distribution
<br />lof Bonds made to the public. The Bonds will be issued in fully registered form and one
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<br />i:Bond, representing the aggregate principal amount of the Bonds maturing in each year,
<br />i!will be registered in the name of Cede & Co. as nominee of The Depository Trust
<br />'iCompany ("DTC"), New York, New York, which will act as securities depository of the
<br />iiBonds. Individual purchases of the Bonds may be made in the principal amount of
<br />11$5,000 or any multiple thereof of a single maturity through book entries made on the
<br />Ilbooks and records of DTC and its participants. Principal and interest are payable by the
<br />qregistrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal
<br />Iland interest payments to participants of DTC will be the responsibility of DTC; transfer
<br />llof principal and interest payments to beneficial owners by participants will be the
<br />Ilresponsibility of such participants and other nominees of beneficial owners. The
<br />ijpurchaser, as a condition of delivery of the Bonds, will be required to deposit the Bonds
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<br />SJB-25 1~.':3Vl
<br />NE136.1~'"
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