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<br />CONDITIONS OF THE SALE
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<br />Tvpe of Bids and Interes!~a!es: The Bonds will be sold in one block, and bids .n an 'Allor None' basis are required. The
<br />Bonds WIll be sold at a price or-not loss than their par value plus accrued interest to the date of delivery of the Bonds.
<br />Bidders are invited to na.e the rale or rates of inlerost 10 be borne by the Bonds, provided Ihal each rale bid lusl be in a
<br />lulliple of I/B of IX or 1/20 of IX and the net effeclive inleresl rale lusl not exceed 15%. The highest rale bid lay not
<br />e,ceed tho lowesl rate bid by .ore than 3X in rale. No lilitation is ilposed upon bidders as 10 Ihe nUlber of rates or changes
<br />which .ay bo used. All Bonds of ono laturily lusl boar one and Iho salo ralo. No bid involving supplolental intoresl rales
<br />will be considered or accoplod. Each bidder shall slale in his bid Ihe tolal inlerest"cPsl i.n dollars and Ihe effoclive
<br />interest rate doteroined thereby Icalculated in Iho lanner proscribod by Arlicle 717k-2, V.A.T.C.S.I which shall bo considered
<br />infonalive only and not as pari of tho bid. "
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<br />Basis of Award: For tho purpose of awarding the salo of Ihe Bonds, Ihe inleresl cosl of each bid will be co.puled bi
<br />aeterllnl~tho rate or ratos specified thorein, Ihe tolal dollar cost of all interest on tho Bonds frol the date thoreo
<br />to Ihoir respoctivo laturity datesl using tho lablo of Bond ,ears herein, and deducling Iherefrol Ihe preliul, if any, bid.
<br />Subject to Ihe City Council's right 0 reject any or all bids and 10 waive anr irregularilies, excepl lile of filIng, Ihe Bonds
<br />will be awarded by the City Council 10 the bidder or syndicate accounl (tho Initial Purchaser' or 'Purchaser') whose bid based
<br />on the above co.putation produces tho lowosl nel effoclive inleresl cost 10 Ihe City. Each bidder shall designate on Ihe
<br />Official Bid For. Ihe nalo in which tho 'lnitial Bond' shall be regislered by Ihe Paying Agenl/Regislrar.
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<br />Good Faith Deoosil: A Good Faith Doposit, payable 10 'Cily of Paris, Texas' in Ihe alount of One Hundred Thousand Dollars
<br />(IIOO,OOlf! IS roqulrod. Such G.od Faith Deposit shall be in Ihe fon of a Cashier's Check, which is to be retained by the Cily,
<br />uncashed pending tho Purchasor's cOlplianco with Iho lerls of his bid and Ihe N.lice .f Sale and Bidding Instructions. The
<br />Good Failh DepOSit lay acco.pany the Official Bid Fori or it lay be sublitted soparately. If sublitlod soparalely, it shall bo
<br />.ado availablo to,tho City prIor to tho oponing of Iho bids, and shall be accolpanied by inslruclions frol Ihe bank on which
<br />drawn which authorlzo its uso as a Good Failh Oeposil by the Purchaser, who shall be naled In such inslruclions. The Good Failh
<br />Deposit of Ihe Purchaser will be applied on the purchase price on Ihe dale of dolivery of Ihe Bonds. No inleresl will bo
<br />allowed on any Good Faith Doposit. In tho ovont tho Purchaser shall fail or refuso 10 lake up and pay for Ihe Bonds in
<br />accordance wilh his bid thon said chock shall bo cashed and accepted by Ihe Cily as full and cOlplote liquidaled dalages. The
<br />checks acco.panying Ihe ~ids of bidders other Ihan Ihe winning bidder will be relurned illedialely afler an a.ard of the Bonds
<br />has beon ..de.
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<br />CUSIP NUnBERS: II is anticipaled that CUSIP idenliflcation nUlbers .ill appear .n Ihe B.nds, but nellher the failure I. prinl
<br />or lype such nu.ber on any Bond nor any error .ith res~ect Ihereto shall conslltute cause for a failure or refusal by Ihe
<br />Purchasor 10 accept delivery of and pay for the Bonds In accordance .ith the terls of this Notice of Sale and the lerls of,lhe
<br />Official Bid Fori. All e'pensos in relation to the prinling or typing of CUSIP nUlbers on the Bonds shall be ~aid by the Clt!I'
<br />providedl however, thai the CUSIP Service Bureau charge for Ihe asslgnlenl of nu.bers shall be Ihe responsibility of and sha
<br />be paid lor by the Purchaser.
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<br />Oeliv~ of lnilial Bon~' Initial Delivery will be accolplished by Ihe issuance of one Initial Bond represenling Ihe aggregate
<br />prinCIpal a.ounl of '5,000,000, either in typed or printed fori, payable in installlents 10 the Purchaser, lanually Slgnea by
<br />the Nayor ~ Cily Secretary, approved by the Allorney General, and regislered and lanually signed by the COlptroller of Public
<br />Accounls. Such delivery will be lado at Ihe princi~al corporale office of Ihe Paying Agent/Registrar. Pay lent for the Bonds
<br />.usl be .ade in il.edialely available funds for uncondlti.nal credil 10 Ihe Cily or as olherwise direcled by the Cily. The
<br />Purchaser will be given seven (7) calendar days notice of the tile fixed for delivery of the Bonds. It in anticipaled Ihat
<br />delivery of the Inilial Bond can be lade on or aboul Seplelber 21l19B8; and il is underslood and agreed Ihat Ihe Purchaser .ill
<br />accept delivery and oake pay.ent for the Inilial Bond by 10:Ou A.N., Septelber 21,I9B8 or Ihereafler on the dale the Bond is
<br />tendered for delivery up to and including October 20 198B. The Purchaser .ill not be required to pay for the inilial Bond
<br />until such ti.e as Ihe definilive Bonds are availa~le for registration and exchange. If for any reason the City is unable 10
<br />lake delivery on or before Oclober 20, 198B, Ihen the Cily shall illediately conlact Ihe Purchaser and offer 10 allo. Ihe
<br />Purchaser 10 e,tend his offer 10 purchase Ihe Bonds for another thirty (301 days. If the Purchaser does not elect to exlend his
<br />offer within seven 171 calendar days Ihereafler, Ihen his Good Failh Deposit will be relurned and bolh Ihe Cily and Ihe
<br />Purchaser shall be relieved of any further obligallon. In no evenl shall the City be liable for anr dalages by reason of its
<br />failure to deliver the Bonds, provided such failure is due 10 circulslances beyond Ihe City's reasonab e contr.l.
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<br />Oo!iv~IY of Oefiniti~_B~n~1: Upon paYlenl for Ihe,lnitial ,Bond ~y Ihe P~rchas~r a! Ihe li~e of Delivery.f ,such Inilial Bond
<br />tne raYing Agent/Roglslrar shall cancel Ihe Initial Bond, prOVided reglstratl.n InstructIons have been received by the PaYIng
<br />Agent/RegIstrar, and shall register and doliver Ihe regislered definilive Bonds, in any inlegral lultiple of '5,000 for anyone
<br />laturily, in accordance with instruclion received frol Ihe Purchaser and/or lelbers of the Purchaser's syndicale account. It
<br />shall be tho duly of Ihe Purchaser 10 furnish 10 Ihe Paying Agent/Regislrar, al leasl five (51 business days prior I. Ihe
<br />delivery of Iho Inilial Bond Instructions designaling Ihe nales in .hich the Bonds are 10 be regiSlered, the addresses of Ihe
<br />registered holders, Ihe laturillos, interesl rates and aenolinalionso The Paying Agenl/Regislrar .ill n.1 be required 10 accept
<br />registration inslruclions aftor the fifth business day prior I. Delivery of Ihe Initial Bond. If such inslructions are not
<br />received .ithin Ihe specified lile period Ihe Delivery of Ihe Inilial Bond shall nevertheless be lade and paid f.r, and delivery
<br />of Ihe definilive Bonds .ill be delayed unlil such .rltten instructions are received.
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<br />DELIVERY OF THE BONOS AND ACCONPANYING DOCUNENTS
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