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amount of the Bonds shall not exceed the amount set forth in paragraph 1 and the final maturity <br />of the Bonds shall not be later than December 1, 2027. The City Manager and the Chief <br />Financial Officer, or either of them, is authorized and directed to execute and deliver one or more <br />Bond Purchase Agreements providing for the sale of the Bonds to Morgan Stanley & Co., <br />Incorporated, as senior Managing Underwriter (the "Underwriter") upon such terms as such <br />officer deems most advantageous. The Bonds shall bear interest, payable semi-annually, at such <br />rate or rates and shall be sold to the Underwriter at such price or prices as may be set forth in the <br />Bond Purchase Agreement(s) approved by such officer or officers; provided that the true interest <br />cost of the Bonds shall not exceed 7.5% per annum and the purchase price shall be not less than <br />97% of the par amount of the Bonds, not taking into account any original issue discount or any <br />bond insurance premium. The City Manager and the Chief Financial Officer, or either of them, <br />is authorized and directed to approve such optional or mandatory redemption provisions for the <br />Bonds as such officer or officers may determine to be in the best interest of the City: <br /> <br /> Form of Bonds. The Bonds shall be in substantially the forms attached to this Resolution as <br />Exhibits A and B, with such appropriate variations, omissions and insertions as are permitted or <br />required by this Resolution. There may be endorsed on the Bonds such legend or text as may be <br />necessary or appropriate to conform to any applicable rules and regulations of any governmental <br />authority or any usage or requirement of law with respect thereto. <br /> <br /> Book-Entry-Only Form. The Bonds shall be issued in book-entry-only form. The Bonds <br />shall be issued in fully-registered form and registered inthe name of Cede & Co., as nominee of <br />The Depository Trust Company, New York, New York ("DTC") as registered owner of the <br />Bonds, and immobilized in the custody of DTC. One fully-registered Bond in typewritten or <br /> <br />-3- <br /> <br /> <br />