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(ZrairmereValleil Bank <br />City of Tukwila <br />Limited Tax General Obligation Bond, 2017 (Taxable) <br />Term Sheet <br />(Subject to Bank underwriting and credit approval) <br />September 25, 2017 <br />1 Issuer: City of Tukwila, King County Washington (the "City") <br />2. Amount: $2,350,000 <br />3. Form: Registered Limited Tax General Obligation Bond, 2017 (Taxable) <br />(the "Bond") issued by the City and purchased by Cashmere <br />Valley Bank at private sale. <br />4. Purpose: Proceeds would be used to refund the City's LTGO Bond <br />Anticipation Note, 2014 (Taxable) which was used to acquire <br />certain improved property on Tukwila International Boulevard for <br />the purpose of redevelopment, and to pay certain costs of Bond <br />issuance. <br />5. Bond Terms: <br />a) Interest Rate and Terms: <br />The Bond would be structured as a taxable non -amortizing bond <br />with a final maturity of either 3, 4 or 5 years. The rate of interest for the <br />first 3 years would be 2.6%. The rate of interest for year 4 would be 2.8%, <br />and for year 5, 3.0%. Interest would be computed on the basis of a 360 - <br />day year consisting of twelve 30 -day months. The Bond would be dated <br />the Date of Delivery and would bear interest from its date. The City may <br />choose if interest is paid monthly, quarterly or semi-annually. <br />b) Transferability <br />Cashmere Valley Bank would hold the Bond with no intent to sell or <br />transfer. The Bond may be transferred only in whole to a qualified <br />investor. <br />14 <br />