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<br />Estimated Sources and Uses of Funds
<br />The proceeds from the sale of the Bonds will be applied as follows:
<br /> General Obli~ation Revenue Bonds
<br /> Bonds
<br /> Sources of Funds:
<br /> Principal amount of the Bonds .............. $ $
<br /> AccruedInterest .............................
<br /> Total Available Funds .......................
<br /> Uses of Funds:
<br /> Deposit in Escrow Funds (Federal Securities and Cash) $ $
<br /> Costs of Issuance .....................................
<br /> Accrued Interest ......................................
<br /> Total Uses of Funds ..................................
<br /> THE BONDS
<br />General
<br />The Bonds are dated April 1, 1994, and interest on the Bonds will be calculated on the basis of a 360-day year composed of twelve
<br />30-day months and will accrue from April 1, 1994. Interest is payable semiannually on February 15 and August 15 of each year ("Interest
<br />Payment Date") commencing August 15, 1994 for the General Obligation Bonds and March 15 and September 15 of each year
<br />commencing March 15, for the Revenue Bonds. Interest on the Bonds is payable by check, mailed on or before each Interest Payment
<br />Date by the Registrar to the Registered owner thereof as shown on the Registrats books on the Record Date (as dermed herein). The
<br />record date (the "Record Date") for the interest payable on any Interest Payment Date is the last business day of the month next preceding
<br />such Interest Payment Date. The Bonds are issued only as fully registered bonds in the denomination of $5,000 or any integral multiple
<br />thereof.
<br />Securitv
<br />The General Obligation Bonds will constitute valid and legally binding obligations of the City, payable from and secured by a continuing
<br />levy of ad valorem taxes against all taxable property on the tax rolls of the City, within the limits prescribed by law.
<br />The Revenue Bonds will constitute valid and legally binding special obligations of the City, payable from and secured by a first lien on
<br />and pledge of the revenues derived from the operation of the City's Waterworks and Sewer System, after deduction of the necessary and
<br />reasonable expenses of maintenance and operation of said system. The owner (owners) of the Revenue Bonds shall never have the right
<br />to demand payment of the principal and interest on the Revenue Bonds out of any funds raised or to be raised by taxation.
<br />Ootional Provisions
<br />All General Obligation Bonds maturing on or after February 15,2003 are optional for redemption in whole or in part on February 15,
<br />2002 or any date thereafter at par and accrued interest to the date fixed for redemption. All Revenue Bonds maturing on or after March
<br />15,2003 are optional for redemption in whole or in part on March 15,2002 or any date thereafter at par and accrued interest to the date
<br />fixed fro redemption. If less than all of the Bonds are redeemed at any time, the particular Bonds to be redeemed shall be selected by the
<br />City in integral multiples of $5,000 within anyone maturity. The registered owner of any Bond, all or a portion of which has been called
<br />for redemption, shall be required to present same to the Registrar for payment of the redemption price on the portion of the Bond so
<br />called for redemption and a new Bond in the principal amount equal to the portion of such Bond not redeemed will be issued to such
<br />registered owner.
<br />Deliverv of the Bonds
<br />The Bonds are expected to be available for delivery on or about April 14, 1994. Delivery of the Bonds will be accomplished by the
<br />issuance of one Bond for each maturity (the "Initial Bonds") either in typed or printed form, payable to the Underwriters. If the
<br />Underwriters furnish to the Registrar, at least five days prior to delivery of the Bonds (or as otherwise agreed to between the
<br />Underwriters and the Registrar), instructions designating the names in which Bonds are to be registered, the addresses of the registered
<br />owners, the maturities, interest rates and denomination of such Bonds, the Registrar shall, on the date of delivery, authenticate and
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