73-10 Issuance & sale of bonds $7,771,000

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"Original Purchaser" means the original purchaser appointed by the Director of Finance in the Certificate of Award. "Outstanding Notes" means the City's Various Purpose Improvement Notes, Series 2010, which were issued on April 14, 2010 and mature on April 13, 2011. "Participant" means any participant contracting with a Depository under a book entry system and includes securities brokers and dealers, banks and trust companies, and clearing corporations. "Preliminary Official Statement" means the preliminary official statement of the City relating to the issuance of the Bonds substantially in the form now on file with the Clerk of this Council. "Principal Payment Dates" means December 1 in each of the years from and including 2011 to and including 2028; provided, however, that the first Principal Payment Date may be deferred one year and the last Principal Payment Date may be advanced up to five years if such actions are determined by the Director of Finance in the Certificate of Award to be in the best interest of and financially advantageous to the City and further provided that in no case shall the last Principal Payment Date exceed the maximum maturity of the Bonds. "Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange Act of 1934. "SEC" means the Securities and Exchange Commission. "Serial Bonds" means those Bonds designated as such and maturing on the Principal Payment Dates set forth in the Certificate of Award. "Specified Events" means the occurrence of any of the following events, within the meaning of the Rule: principal and interest payment delinquencies; non-payment related defaults, if material; unscheduled draws on debt service reserves reflecting financial difficulties; unscheduled draws on credit enhancements reflecting financial difficulties; substitution of credit or liquidity providers, or their failure to perform; adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinatons of taxability, notices of proposed issues, other material notices or determinations with respect to the tax status of the Bonds or other material events affecting the tax- exempt status of the Bonds; modifications to rights of owners or beneficial owners of the Bonds, if material; Bond calls, if material and tender offers; defeasances; release, substitution, or sale of property securing repayment of the Bonds, if material; and rating changes, bankruptcy, insolvency, receivership or similar event of the City; merger, consolidation or acquisition of the City or the sale of all or substantially all of the assets of the City, other than in the ordinary course of business, entry into a definitive agreement to undertake such action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and appointment of a successor Bond Registraz or a change of name of Bond Registrar, if material. The repayment of the 4