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Agreement "), between VRA and the City, or such other financing agreement that may be entered <br />into in connection with a separate series of the Bonds; and <br />WHEREAS, the Financing Agreement is expected to indicate that (1) the sum of (A) <br />525,000,000 plus, (B) an amount necessary to refund the Prior Obligations selected for refunding <br />(the "Refunded Obligations "), and plus (C) an amount necessary to pay costs of issuance and <br />capitalized interest on the New Money Bonds through April 1, 2023, or (ii) such other amount as <br />requested by the City in writing and approved by VRA prior to VRA's bond pricing, is the amount <br />of proceeds requested for the Project from VRA (the "Proceeds Requested"); and <br />WHEREAS, VRA has informed the City that VRA's objective is to pay the City a purchase <br />price for the Bonds that in VRA's judgment reflects its market value (the "Purchase Price <br />Objective ") taking into consideration the Proceeds Requested and such factors as the purchase <br />price received by VRA for the VRA Bonds, the issuance costs of the VRA Bonds (consisting of <br />the underwriters' discount and other costs incurred by VRA) (collectively, the "VRA Costs ") and <br />other market conditions relating to the sale of the VRA Bonds; and <br />WHEREAS, such factors are expected to result in the City receiving a purchase price other <br />than the par amount of the Bonds and consequently (1) the aggregate principal amount of the Bonds <br />may be greater than or less than the Proceeds Requested in order to receive an amount of proceeds <br />that is substantially equal to the Proceeds Requested or (ii) the City may receive less than the <br />Proceeds Requested if the financing parameters established under Section 5 of this Ordinance <br />restrict the principal amount of the Bonds such that the maximum principal amount of the Bonds <br />does not exceed the Proceeds Requested by at least the amount of the VRA Costs and any original <br />issue discount, the amount to be paid to the City, given the Purchase Price Objective and market <br />conditions; and <br />