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Proiects Amounts • Public Schools $1,649,093 Public Buildings 2,105,014 Public Safety 2,100,000 Transportation Improvements 2,550,000 Parks and Recreation 2,000,000 Water System Improvements 1,500,000 Sewer System Improvements 1,500,000 Energy Performance Improvements 1.835.893 $15,240,000 If any project set forth above shall require less than the entire respective amount so set forth, the difference may be applied to any of the other projects so set forth. 9. (a) There is hereby delegated to the City Manager authority, without further action by the Council, to sell the Bonds authorized for issuance under this resolution in accordance with the provisions hereof at competitive sale at such price as shall be determined by the City Manager and on such terms and conditions as shall be provided in the Notice of Sale relating to the Bonds. The City Manager is hereby authorized to cause to be published and distributed a Notice of Sale of the Bonds of each series in such form and containing such terms and conditions as he may deem advisable, subject to the provisions hereof. In lieu of publishing the full text of the Notice of Sale of the Bonds in accordance with the provisions of the • immediately preceding sentence, the City Manager is hereby authorized to cause a Summary Notice of Sale of the Bonds in such form as the City Manager shall approve to be published in The Bond Buyer on a date selected by the City Manager and is hereby further authorized to cause to be prepared and distributed a Preliminary Official Statement and a final Official Statement and a Detailed Notice of Sale relating to the Bonds of each series. (b) There is hereby delegated to the City Manager the authority to receive bids for the purchase of the Bonds of each series and, without further action by the Council, to accept the bid offering to purchase the Bonds of each series at the lowest true interest cost to the City, computed in accordance with the provisions of the Detailed Notice of Sale of the Bonds of such series; provided (i) that such bid is accompanied or preceded by a surety bond meeting the conditions specified in the Detailed Notice of Sale of such series and is otherwise in conformity with the provisions of the Detailed Notice of Sale of the Bonds of such series, (ii) that the true interest cost to the City as specified in such bid is not in excess of six percent (6%), (iii)the redemption premium payable upon the redemption of the Bonds shall not exceed two percent (2%) of the principal amount thereof and (iv) in the case of Bonds issued to refund the Refunded Bonds, the net present value savings ratio shall not be less than three percent (3%) based on the debt service on the Refunded Bonds. The City Manager is hereby further authorized to determine, or to modify the provisions of this resolution with respect to, the dated date of the Bonds, the interest payment dates for the Bonds, the dates on which the Bonds shall mature, the principal amount of the Bonds maturing on each such maturity date and the redemption provisions applicable to the Bonds and to fix the rates of interest to be home by the Bonds of each maturity of each series as specified in the bid accepted by him in accordance with the is immediately preceding sentence. -7- 541260.3 030911 RES