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interest accrued to settlement, is hereby found, determined and declared to be the most favorable <br />proposal received and is hereby accepted and the Bonds are hereby awarded to the Purchaser. <br />The Finance Director is directed to retain the deposit of the Purchaser. <br />2. Bond Terms. <br />(a) Original Issue Date; Denominations; Maturities; Term Bond Option. The Bonds <br />shall be dated December 6, 2022, as the date of original issue, shall be issued forthwith on or <br />after such date in fully registered form, shall be numbered from R-1 upward in the denomination <br />of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized <br />Denominations") and shall mature on December 15 in the years and amounts as follows: <br />Year Amount Year Amount <br /> <br />2023 2031 <br />2024 2032 <br />2025 2033 <br />2026 2034 <br />2027 2035 <br />2028 2036 <br />2029 2037 <br />2030 <br />As may be requested by the Purchaser, one or more term Bonds may be issued having <br />mandatory sinking fund redemption and final maturity amounts conforming to the foregoing <br />principal repayment schedule, and corresponding additions may be made to the provisions of the <br />applicable Bond(s). <br />(b) Book Entry Only System. The Depository Trust Company, a limited purpose <br />trust company organized under the laws of the State of New York or any of its successors or its <br />successors to its functions hereunder (the "Depository") will act as securities depository for the <br />Bonds, and to this end: <br />(i) The Bonds shall be initially issued and, so long as they remain in book <br />entry form only (the "Book Entry Only Period"), shall at all times be in the form of a <br />separate single fully registered Bond for each maturity of the Bonds; and for purposes of <br />complying with this requirement under paragraphs 5 and 10 Authorized Denominations <br />for any Bond shall be deemed to be limited during the Book Entry Only Period to the <br />outstanding principal amount of that Bond. <br />(ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond <br />register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE <br />& CO., as the nominee (it or any nominee of the existing or a successor Depository, the <br />"Nominee"). <br />(iii) With respect to the Bonds neither the City nor the Bond Registrar shall <br />have any responsibility or obligation to any broker, dealer, bank, or any other financial <br />institution for which the Depository holds Bonds as securities depository (the <br /> 2 <br /> <br />