|
MATURITIES: The Bonds will mature on February 1 in each of the years, and in the
<br /> approximate amounts, in accordance with the following schedule. Each bidder is required fo
<br /> specify in its bid whether, for any particular year, the Bonds wiU mafure or, alternately, be
<br /> subjec[io mandatory sinking fund redemption in such year.
<br /> Year Principal Year Principal
<br /> {Februarv 1) Amount* (Februarv 1) Amount'`
<br /> 2014 $ 800,000 2025 $1,245,000 "
<br /> 2015 810,000 2026 1,305,000
<br /> 2016 825,000 2027 1,370,000
<br /> 2017 855,000 2028 1,440,000
<br /> 2018 890,000 2029 1,510,000
<br /> 2019 925,000 2030 1,585,000
<br /> 2020 975,000 2031 1,665,000
<br /> 2021 1,020,000 2032 1,750,000
<br /> 2022 1,075,000 2033 1,835,000
<br /> 2023 1,125,000 2034 1,930,000
<br /> 2024 1,185,000
<br /> ADJUSTMENT OF PRINCIPAL AMOUNTS AND OF MATURITIES: The principal
<br /> amounts of each maturity of Bonds set forth above reflect certain estimates of the Authority and
<br /> the Financial Advisor with respect to the likely interest rates of the winning bid and the premium
<br /> contained in the winning bid. Potential bidders will be notified via Parity not later than 1:00 p.m.
<br /> (California time) on the business day preceding the date then prescribed for the receipt of bids
<br /> of any change to the principal payment schedule for the Bonds to be utilized for the bidding
<br /> process. Following the determination of the successful bidder, the designated maturity
<br /> amounts set forth for the Bonds prior to the receipt of bid$ may be adjusted either upward or
<br /> downward in order to achieve approximately equal annual savings after award of the Bonds has
<br /> been made to the successful bidder. Any increase or decrease will be in $5,000 increments of
<br /> principal amounts. Such adjustment shall be made within 6 hours of the receipt of bids, in the
<br /> sole discretion of the Authority and without consulting the successful bidder, upon a
<br /> recommendation of the Financial Advisor. The aggregate price bid by the successful bidder will
<br /> be adjusted by the Authority proportionate to any increase or decrease in the aggregate
<br /> principal amount of the Bonds and without consideration for the reoffering price by the
<br /> successful bidder to the public of any individual maturity of the Bonds. IN THE EVENT OF ANY
<br /> SUCH ADJUSTMENT, NO REBIDDING OR RECALCULATION OF THE BIDS SUBMITTED
<br /> WILL BE REQUIRED OR PERMITTED, AND THE SUCCESSFUL BIDDER MAY NOT
<br /> WITHDRAW ITS BID OR CHANGE THE INTEREST RATES BID OR ANY INITIAL
<br /> REOFFERING PRICES AS A RESULT OF ANY CHANGES MADE TO THE STATED
<br /> PRINCIPAL AMOUNTS IN ACCORDANCE WITH THIS OFFICIAL NOTICE OF SALE OR
<br /> AMENDMENTS MADE THERETO. FURTHER, IF THE AUTHORITY ADJUSTS THE
<br /> PRINCIPAL PAYMENT SCHEDULE FOR THE BONDS AFTER THE RECEIPT OF BIDS, THE
<br /> UNDERWRITER'S DISCOUNT, EXPRESSED IN DOLLARS PER THOUSAND DOLLARS OF
<br /> BONDS, WILL BE HELD CONSTANT. THE AUTHORITY WILL NOT BE RESPONSIBLE IF
<br /> AND TO THE EXTENT THAT ANY ADJUSTMENT AFFECTS (i) THE NET COMPENSATION
<br /> TO BE REALIZED 8Y THE BIDDER OR (ii) THE TRUE INTEREST COST OF THE WINNING
<br /> BID OR THE RANKING OF ANY BID RELATIVE TO OTHER BIDS.
<br /> � Preliminary, subject to change.
<br /> -3-
<br />
|