10A Action 2008 0602 Attach - Official Notice of Sale

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In the event that, prior to the delivery of the Bonds (a) the interest on other obligations of the same type and character shall be declared to be subject to taxation (either at the time of such declaration or at any future date) under any federal income tax laws, either by the terms of such laws or by ruling of a federal income tax Agency or official which is followed by the Internal Revenue Service, or by decision of any federal court, or (b) any federal income tax law is enacted which will have a substantial adverse effect upon the owners of the Bonds as such, the successful bidder may, at its option, prior to the tender of the Bonds, be relieved of its obligation to purchase the Bonds, and in such case the deposit accompanying its bid will be returned. LEGAL OPINION: The legal opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, approving the validity of the Bonds will be furnished to the successful bidder without cost. Further Information: A copy of the preliminary Official Statement describing the Bonds, and any other information concerning the proposed financing, will be furnished upon request to the Agency's Financial Advisor, E. Wagner & Associates, Inc., 5510 Sunol Boulevard, Suite 3, Pleasanton, California 94566, telephone (925) 416-1200; email: ewagner@e-wagner.net. TERMS OF SALE FORM OF BID; MAXIMUM DISCOUNT: All bids must be for not less than all of the Bonds hereby offered for sale and for not less than ninety eight percent (98%) of the aggregate par value thereof. Additionally, the total compensation of the winning bidder shall be the difference between the purchase price to be paid to the Agency and the initial reoffering price of the Bonds to the public, and shall not exceed one percent (1°l0) of the aggregate principal amount of the Bonds. A prescribed form of bid for the Bonds has been prepared and all facsimile bids must be submitted on such form. Bidders may submit only one bid, either by telecopy or electronically through PARITY. All bids must comply with the requirement for a good faith deposit. See "GOOD FAITH DEPOSIT" herein. ELECTRONIC BIDS. Electronic bids must conform with the procedures established by PARITY. Solely as an accommodation to bidders, electronic bids will be received exclusively through PARITY in accordance with this Official Notice of Sale until 9:00 a.m. California time, but no bid will be received after the time specified for receiving bids. To the extent any instructions or directions set forth in PARITY conflict with this Official Notice of Sale, the terms of this Official Notice of Sale shall control. For further information about PARITY, potential bidders may contact the Agency's Financial Advisor, E. Wagner & Associates, Inc., 5510 Sunol Boulevard, Suite 3, Pleasanton, California 94566, telephone (925) 416-1200; email: ewagner@e-wagner.net, or Dalcomp/i-Deal LLC at 1359 Broadway, 2~d Floor, New York, NY 10018; Telephone: (212) 849-5021. INTEREST RATE; Bidders must specify the rate or rates of interest which shall be payable with respect to the Bonds. The maximum rate bid may not exceed twelve percent (12%) per annum. Interest with respect to the Bonds is payable semiannually on each March 1 and September 1, commencing March 1, 2009. Bidders will be permitted to bid different rates of interest but (a) each interest rate specified in any bid must be in a multiple of one-twentieth (1/20) or one-eighth (1/8) of one percent; (b) interest with respect to each Bond shall be -4-