Resolution 8951 - Laserfiche WebLink

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obligation to undertake registration to bid for any prospective bidder or to provide or ensure electronic access to any qualified prospective bidder, and neither the City, its agents, nor PARITY° shall be responsible for a bidder's failure to register to bid or for any failure in the proper operation of, or have any liability for any delays or interruptions of or any damages caused by the services of PARITY®. The City is using the services of PARITY° solely as a communication mechanism to conduct the electronic bidding for the Certificates, and PARITY° is not an agent of the City. If any provisions of this Terms of Proposal conflict with information provided by PARITY°, this Terms of Proposal shall control. Further information about PARITY°, including any fee charged, may be obtained from: PARITY®, 1359 Broadway, 2"d Floor, New York, New York 10018 Customer Support: (212) 849-5000 DETAILS OF THE CERTIFICATES The Certificates will be dated as of the date of delivery and will bear interest payable on February 1 and August 1 of each year, commencing February 1, 2019. Interest will be computed on the basis of a 360 -day year of twelve 30 -day months. The Certificates will mature February 1 in the years and amounts* follows: 2020 $220,000 2021 $225,000 2022 $225,000 2023 $235,000 2024 $240,000 * The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Certificates or the amount of any maturity or maturities in multiples of $5, 000. In the event the amount of any maturity is modified, the aggregate purchase price will be adjusted to result in the same gross spread per $1,000 of Certificates as that of the original proposal. Gross spread for this purpose is the differential between the price paid to the Cityfor the new issue and the prices at which the proposal indicates the securities will be initially offered to the investing public. Proposals for the Certificates may contain a maturity schedule providing for a combination of serial bonds and term bonds. All term bonds shall be subject to mandatory sinking fund redemption at a price of par plus accrued interest to the date of redemption scheduled to conform to the maturity schedule set forth above. In order to designate term bonds, the proposal must specify "Years of Term Maturities" in the spaces provided on the proposal form. BOOK ENTRY SYSTEM The Certificates will be issued by means of a book entry system with no physical distribution of Certificates made to the public. The Certificates will be issued in fully registered form and one Certificate, representing the aggregate principal amount of the Certificates maturing in each year, will be registered in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"), New York, New York, which will act as securities depository for the Certificates. Individual purchases of the Certificates may be made in the principal amount of $5,000 or any multiple thereof of a single maturity 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 Certificates. Transfer of principal and interest payments to participants of A-2 5214041 JSB BL140-35