Specifications include, but are not limited to: If issued, the proceeds of a direct placement would be used to refund all outstanding maturities of the outstanding 2012A Bonds. The direct placement would be issued on a parity basis with the City’s outstanding general airport revenue bonds. The City strongly prefers a fixed rate transaction.; Specify the formula on which the fixed rate on the loan will be set prior to closing and provide the example rate on such loan that would be produced using that formula as of the date of the submission of your proposal. Please also specify how long the example fixed rate stated in your proposal will be available to the City. The City will give a preference in the review process to banks which offer a fixed rate which is locked-in for at least 60-90 days from the date the proposal is submitted. Specify whether an interest lock or similar agreement will be required and provide the proposed terms and provisions thereof.
