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principal amount, shall, if applicable, bear interest at such rate or rates as shall be determined by the City Manager, and shall mature in such amounts and on such dates as may be determined by the City Manager; provided that (i) the original aggregate principal amount of the Bonds shall not exceed $885,054, (ii) the true interest cost of any series of the Bonds shall not exceed two percent (2%) per annum thereof, and (iii) the final maturity of any series of Bonds shall not exceed the maximum term provided for in Section 1397E(d)(3) of the Tax Code. For purposes of the preceding sentence, "true interest cost" shall be determined without regard to any interest to be paid to provide yield protection to the purchaser of the Bonds or its successors and assigns in the event of a change in tax law, the failure by the City or the School Board to comply with tax law or as a result of construction or sinking fund investment rate shortfalls. The Bonds shall be in substantially the form filed with the City's official records, with such appropriate variations, omissions and insertions as are permitted or required by this resolution. There may be endorsed on the Bonds such legend or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. The Bonds will be subject to optional and mandatory redemption as the City Manager may deem advisable. The City Manager is authorized and directed to execute the Bonds. The Clerk of the Council is authorized and directed to affix the seal of the City to each series of the Bonds and to attest the seal. The manner of execution, attestation and affixation of the seal may be by facsimile; provided, however, that if the signatures of the City Manager and Clerk are all by facsimile, the Bonds will not be valid until signed at the foot thereof by the manual signature of the Bond Registrar. The City Manager's approval or determination of the details and provisions of the Bonds that he has been authorized and/or directed to approve under this resolution shall be evidenced conclusively by his execution and delivery of the Bonds on the City's behalf. The Bonds shall be offered for sale and sold in such manner as the City Manager may determine to be in the best interests of the City; provided that the true interest cost of any series of the Bonds does not exceed the maximum true interest cost set forth above. The appropriate officers and agents of the City are authorized and directed to execute and deliver on the City's behalf simultaneously with the issuance of any series of the Bonds a Tax Compliance Agreement or similar document setting forth the expected use and investment of the proceeds of the Bonds and containing such covenants, designations and elections as may be necessary or desirable in order to comply with the provisions of the Tax Code. The Council agrees on behalf of the City that the proceeds from the issuance and sale of any such series of the Bonds will be invested and expended as set forth in the City's Tax Compliance Agreement or similar document and that the City will comply with the other provisions contained in it. The Council hereby appoints the Chief Financial Officer as the Bond Registrar and Paying Agent for the Bonds. The Council may appoint a subsequent Bond Registrar and/or one or more Paying Agents for the Bonds by subsequent resolution and upon giving written notice to the registered owners -4-