2016-037 - Authorizing the issuance of the City’s General Obligation Bonds, Series 2016; approving the use of a paying agent/registrar agreement; engaging bond counsel ....

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OFFICIAL BID FORM Honorable Mayor and City Council City of Paris 135 SE 1st Street Paris, Texas 75460 Ladles and Gentlemen: December 5, 2016 Reference is made to your Official Notice of Sale and Preliminary Official Statement dated November 28, 2016 of $8,780,000 (after taking into account the adjustments of initial principal) City of Paris, Texas General Obligation Bonds, Series 2016, both of which constitute a part hereof. For your legally issued Bonds, as described in said Official Notice of Sale and Preliminary Official Statement, we will pay you a price of $8,890,955.35 plus accrued Interest from their Dated Date to the date of delivery to us, for Bonds maturing December 15 and bearing interest as follows: (After taking Into account the adjustments of initial principal.) Stated Principal Interest Stated Principal Interest Stated Principal Interest Maturity Amou Rate Maturity o n $S,ft Maturity Amou Bak 2017 $380,000 2.000% 2024 $375,000 3.000% 2031` $480,000 xxx% 2018 455,000 3.000% 2025 385,000 3.000% 2032• 475,000 )00(56 2019 495,000 3.000% 2026 395,000 4.000% 2033" 490,000 xxx% 2020 550,000 3.000% 20271 405,000 root% 2034• 505,000 )xx% 2021 340,000 3.000% 2028• 420,000 root% 2035• 520,000 xxx% 2022 355,000 3.000% 2029' 430,000 xxx% 2036' 535,000 3.10056 2023 365,000 3.00056 2030" 445,000 xxx% Maturldes available for term bonds Of the principal maturities set forth in the table above, we have created term bonds as Indicated in the following table (which may Include multiple term bonds, one term bond or no term bonds if none Is indicated). For those years which have been combined Into a term bond, the principal amount shown in the table above will be the mandatory sinking fund redemption amounts in such years except that the amount shown in the year of the term bond maturity date will mature In such year. The term bonds created are as follows: Term Bond Maturity Year of First Principal Amount Interest Date December 15 Mandatory Redemption of Tenn Bond bate Our calculation (which Is not part of this bid) of the interest cost in accordance with the above bid is: TRUE INTEREST COST 2.971233% ADJUSTMENT OF INITIAL PRINCIPAL AMOUNTS: The City reserves the right to Increase or decrease the principal (maturity) amount of any maturity of the Bonds, including the elimination of a maturity or maturities; provided, however, that the aggregate principal (denominational) amount of the Bonds shall not exceed $8,800,000. Notice of any such changes shall be given to the successful bidder as soon as practicable following the notification of award, as described below, and this Notice of Sale may be amended at the sole discretion of the City to reflect such increase or decrease. The CJU idl attempi to maintain the best bid is determined. The successful bidder may not withdraw ita bids or change the rates bid or any prices as a result of any changes made to the principal (denominational) amounts. By its acceptance of this bid, we understand the City will provide the copies of the Final OMdal Statement and of any amendments or supplements thereto In accordance with the Official Notice of Sale, and will cooperate to permit the undersigned to comply with Rule 15c2 -12 of the Securities and Exchange Commission. The Purchaser by submitting this bid for the Bonds agrees to promptly file the Official Statement when received from the City with the Municipal Securities Rulemaking Board. The Initial Bond shall be registered in the name of PNC Capital Markets (Syndicate Manager), which will upon payment for the Bonds, be canceled by the Paying Agent/Registrar. The Bonds will then be registered in the name of Cede & Co. (DTC's partnership nominee), under the Book- Entry-Only System. We will advise DTC of registration instructions at least five business days prior to the date set for initial Delivery.