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City of Tukwila <br />Limited Tax General Obligation Bond 2017 (Taxable) <br />Page 2 <br />c) Security <br />The Bond would be a limited tax general obligation supported by the full <br />faith and credit of the City. <br />6. Prepayment: <br />The outstanding principal amount of the Bond may be prepaid in whole or in part <br />at any time prior to the Maturity Date at par plus accrued interest to the date of <br />prepayment. The City would provide the Bank with written notice of any <br />intended prepayment at least 15 days prior to such prepayment date. <br />7. Fees: The Bank would not charge any fees for the Bond, and does not expect <br />any legal costs. <br />8. Additional Terms: The Bond documents would be in the standard forms <br />customarily required by the Bank for municipal funding and would include <br />additional terms and conditions not discussed above. The City would provide its <br />annual financial report to the Bank during the period the Bond is outstanding and <br />held by the Bank. At the date of closing the Bond, the financial condition and <br />credit of the City and all other features of this transaction would be as represented <br />to the Bank without material adverse change. <br />Please note that this term sheet is for discussion purposes only and does not represent a <br />commitment on the part of the Bank to lend funds. The Bank agrees to the proposed <br />schedule of events presented in the Request for Proposals. <br />ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND <br />CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE <br />NOT ENFORCEABLE UNDER WASHINGTON LAW. <br />15 <br />