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R-19-07RESOLUTION NO. R-19-07 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF A TAXABLE SEWER SYSTEM REVENUE REFUNDING BOND, SERIES 2019, OF THE CITY OF FAIRFAX, VIRGINIA, IN A PRINCIPAL AMOUNT NOT TO EXCEED $22,500,000, PROVIDING FOR THE FORM, DETAILS AND PAYMENT THEREOF, AND PROVIDING FOR THE REFUNDING OF A PORTION OF THE CITY'S SEWER SYSTEM REVENUE REFUNDING BOND, SERIES 2014 WHEREAS, the City of Fairfax, Virginia (the "City"), previously entered into a Local Lease Acquisition Agreement and Financing Lease dated as of October 15, 2010 (the "2010 Financing Lease"), with the Virginia Resources Authority ("VRA") to finance certain improvements to its water and sewer systems; WHEREAS, in January 2014, the City sold substantially all of its water distribution system to the Fairfax County Water Authority and ceased supplying water to its residents and others; WHEREAS, in January 2014, the City also undertook to sell the Goose Creek Water Treatment Plant and ancillary facilities (collectively, the "Facilities") to Loudoun County Sanitation Authority, which Facilities constituted the leased property under the 2010 Financing Lease; WHEREAS, VRA agreed to facilitate the sale of the Facilities by converting the 2010 Financing Lease into a sewer system revenue bond and releasing the encumbrance of the 2010 Financing Lease on the Facilities; WHEREAS, on January 28, 2014, the City Council of the City (the "City Council") held a public hearing and authorized (a) the issuance of its Sewer System Revenue Refunding Bond, Series 2014 (the "2014 Bond"), and (b) the amendment of the list of projects authorized to be financed with the remaining proceeds of the 2010 Financing Lease to include only improvements to the City's sewer system; WHEREAS, on January 31, 2014, the City issued and sold the 2014 Bond to VRA and terminated the 2010 Financing Lease; WHEREAS, the City's administration, in collaboration with Davenport & Company LLC, in its capacity as the City's financial advisor (the "Financial Advisor"), has advised that the City may achieve debt service savings by refunding a portion of the outstanding principal installments of the 2014 Bond (such refunded installments, the "Refunded Installments"); WHEREAS, the City desires to issue a taxable sewer system revenue refunding bond (the "Bond" as further described in Section 3 herein) to refund the Refunded Installments, subject to the terms and conditions herein, including a condition that the refunding achieve an aggregate net present value debt service savings of not less than 3.00% of the refunded par amount of the Refunded Installments (the "Targeted Savings"); WHEREAS, the City has applied to VRA for the purchase of the Bond, and VRA has indicated its willingness to purchase the Bond from the proceeds of one or more series of its Infrastructure and State Moral Obligation Revenue Bonds (Virginia Pooled Financing Program) (collectively, the "VRA Bonds"), in accordance with the terms of a Local Bond Sale and Financing Agreement (the "Financing Agreement"), between VRA and the City, the form of which has been submitted with the papers for this meeting of the City Council; WHEREAS, VRA has advised the City that VRA's objective is to pay the City a purchase price for the Bond (the "Purchase Price Objective") that, in VRA's judgment, reflects its market value taking into consideration such factors as the Targeted Savings, the purchase price received by VRA for the VRA Bonds, the issuance costs of the VRA Bonds (consisting of the underwriters' discount and other costs incurred by VRA) and other market conditions relating to the sale of the VRA Bonds; and WHEREAS, the Financing Agreement will provide that the terms of the Bond may not exceed the parameters set forth below in Section 3; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAIRFAX, VIRGINIA: Issuance of Bond and Use of Proceeds. Pursuant to the Constitution and statutes of the Commonwealth of Virginia (the "Commonwealth"), including the Public Finance Act of 1991, the Bond shall be issued and sold to VRA as a taxable sewer system revenue refunding bond of the City to provide funds to refund the Refunded Installments and to pay the costs incurred in connection with such refunding and the issuance of the Bond. The Bond shall be delivered to or upon the order of VRA upon VRA's payment of the purchase price set forth in the Financing Agreement. Subject to the City Manager's determination of what will be in the City's best interests, the Bond is authorized to be sold as part of any sale of VRA Bonds undertaken by VRA that occurs prior to December 31, 2019. Authorization of Financing Agreement. The form of the Financing Agreement submitted for this meeting is hereby approved. The City Manager is authorized to execute and deliver the Financing Agreement in substantially such form, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by the City Manager, whose approval shall be evidenced conclusively by the execution and delivery thereof The issuance and sale of the Bond to VRA shall be upon the terms and conditions set forth in the Financing Agreement. The proceeds of the Bond shall be applied in the manner set forth in the Financing Agreement. All capitalized terms used but not otherwise defined herein shall have the same meanings as set forth in the Financing Agreement. Bond Details. The Bond shall be issued as a single, registered bond, shall be designated "Taxable Sewer System Revenue Refunding Bond, Series 2019," shall be numbered R-1 and shall be dated the date that is 30 days prior to the closing date of the VRA Bonds. The City Council authorizes the issuance and sale of the Bond to VRA on such terms as shall be determined by VRA subject to VRA's Purchase Price Objective and market conditions described in the Recitals hereof; provided, however, that the Bond shall be issued in an aggregate principal amount not to exceed $22,500,000, shall have a "true" interest cost not to exceed 4.00% (exclusive of "Supplemental Interest" as provided in the Financing Agreement), shall be payable in principal installments ending not later than December 31, 2040, and that the refunding shall achieve at least the Targeted Savings. Subject to the preceding terms, the City Council further authorizes the City Manager to accept the final terms presented by VRA, including (a) the final principal amount of the Bond, (b) the amortization schedule (including the principal installment dates and amounts) for the Bond, (c) the optional and extraordinary redemption provisions, if any, of the Bond and (d) the principal installments (or portions thereof), if any, that shall constitute the Refunded Installments, all in such manner as the City Manager shall determine to be in the best interests of the City. As set forth in the Financing Agreement, the City agrees to pay such "Supplemental Interest" and other charges as provided therein, including such amounts as may be necessary to maintain or replenish the Capital Reserve Fund. The principal of and premium, if any, and interest on the Bond shall be payable in lawful money of the united States of America. The actions of the City Manager in accepting the final terms of the Bond shall be conclusive, and no further action shall be necessary on the part of the City Council. Payment and Redemption Provisions of Bond. The principal of and premium, if any, and interest on the Bond shall be payable as set forth in the Bond and the Financing Agreement. The City may, at its option, redeem, prepay or refund the Bond upon the terms set forth in the Financing Agreement. Execution and Form of Bond; Printed Bond. The Bond shall be signed by the Mayor of the City, and the City's seal shall be affixed thereon and attested by the City Clerk or any Assistant City Clerk. The Bond shall be issued initially as a typewritten bond in substantially the form of Exhibit A attached hereto, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by the officers signing the Bond, whose approval shall be evidenced conclusively by the execution and delivery of the Bond. Upon request of the registered owner and upon presentation of the Bond at the office of the Registrar (as hereinafter defined), the City shall arrange to have prepared, executed and delivered in exchange as soon as practicable the Bond in printed form in an aggregate principal amount equal to the unpaid principal of the Bond in typewritten form, in denominations of $5,000 and multiples thereof, of the same form and maturity and registered in such names as requested by the registered owners or their duly authorized attorneys or legal representatives. The printed Bond may be executed by manual or facsimile signature of the Mayor of the City, and the City's seal is to be affixed thereto and attested by the City Clerk or any Assistant Clerk; provided, however, that if both such signatures are facsimiles, no Bond shall be valid until it has been authenticated by the manual signature of the Registrar and the date of authentication noted thereon. The typewritten Bond surrendered in any such exchange shall be canceled. Pledge of Revenues Securing the Bond; No Full Faith and Credit Pledge. Subject to the right of the City to apply Revenues to the payment of Operation and Maintenance Expenses, the City irrevocably pledges the Revenues for the payment of principal of and premium, if any, and interest on the Bond. The City is required to fix and collect rates, fees and other charges for the use of and for services furnished or to be furnished by the System and will from time to time revise such rates, fees and other charges so that in each Fiscal Year the Net Revenues Available for Debt Service will equal at least 115% of the amount required during the Fiscal Year to pay principal of and premium, if any, and interest on the Bond and all other indebtedness of the City payable from Revenues, including, without limitation, indebtedness under leases that are treated as capital leases under generally accepted accounting principles. The Bond shall not be deemed to constitute a pledge of the faith and credit of the Commonwealth or any political subdivision thereof, including the City. Neither the Commonwealth nor any political subdivision thereof, including the City, shall be obligated to pay the principal of and premium, if any, and interest on the Bond or other costs incident thereto except from the revenues pledged therefor, and neither the faith and credit nor the taxing power of the Commonwealth or any political subdivision thereof, including the City, is pledged to the payment of the principal of and premium, if any, and interest on the Bond or other costs incident thereto. Additional bonds secured on a parity as to the pledge of the Revenues with the Bond may be issued on terms provided in the Financing Agreement. Registration, Transfer and Owner of Bond. The City appoints the City Treasurer as paying agent and registrar (the "Registrar") for the Bond. If deemed to be in its best interests, the City may at any time appoint a qualified bank or trust company as successor Registrar. Upon surrender of the Bond at the office of the Registrar, together with an assignment duly executed by the registered owner or its duly authorized attorney or legal representative in such form as shall be satisfactory to the Registrar, the City shall execute, and the Registrar shall authenticate and deliver in exchange, a new Bond or Bonds having an equal aggregate principal amount, of the same form and maturity, bearing interest at the same rate and registered in such name as requested by the then registered owner or its duly authorized attorney or legal representative. Any such exchange shall be at the expense of the City, except that the Registrar may charge the person requesting such exchange the amount of any tax or other governmental charge required to be paid with respect thereto. The Registrar shall treat the registered owner as the person or entity exclusively entitled to payment of principal of and premium, if any, and interest on the Bond and the exercise of all other rights and powers of the owner, except that installments shall be paid to the person or entity shown as owner on the registration books on the 15th day of the month preceding each interest payment date. Mutilated, Lost or Destroyed Bond. If the Bond has been mutilated, lost or destroyed, the City shall execute and deliver a new Bond of like date and tenor in exchange and substitution for, and upon cancellation of, such mutilated Bond or in lieu of and in substitution for such lost or destroyed Bond; provided, however, that the City shall so execute and deliver only if the registered owner has paid the reasonable expenses and charges of the City in connection therewith and, in the case of a lost or destroyed Bond, (a) has filed with the City evidence satisfactory to the City that such Bond was lost or destroyed and (b) has furnished to the City satisfactory indemnity. Preparation and Delivery of Bond. The officers of the City are authorized and directed to take all proper steps to have the Bond prepared and executed in accordance with its terms and to deliver it to VRA as the purchaser thereof upon receipt of the Purchase Price from VRA as set forth in the Financing Agreement. State Aid Intercept. The City acknowledges that VRA is treating the Bond as a "local obligation" within the meaning of Section 62.1-199 of the Act, which in the event of a nonpayment thereunder authorizes VRA or the VRA trustee to file an affidavit with the Governor of the Commonwealth of Virginia that such nonpayment has occurred pursuant to Section 62.1-216.1 of the Act. In purchasing the Bond, VRA is further relying on Section 62.1- 216.1 of the Act providing that if the Governor is satisfied that such nonpayment has occurred, the Governor will immediately make an order directing the Comptroller to withhold all further payment to the City of all funds, or of any part of them, appropriated and payable by the Commonwealth of Virginia to the City for any and all purposes, and the Governor will, while the nonpayment continues, direct in writing the payment of all sums withheld by the Comptroller, or as much of them as is necessary, to VRA, so as to cure, or cure insofar as possible, such nonpayment. Defeasance of Refunded Installments. The City Manager is authorized and directed to take all proper steps to cause the Refunded Installments to be defeased as of the date the Bond is issued. The City Manager is authorized to approve changes to the 2014 Bond and related financing documents, including the execution and delivery of an allonge to the 2014 Bond and an amendment to the Local Bond Sale and Financing Agreement dated as of January 15, 2014, between VRA and the City, as may be necessary to provide for the portion of the 2014 Bond not to be defeased. The City Manager is authorized to affix the City's seal on any such documents and attest the same. Tax Compliance Agreement. Such officers of the City as may be requested are authorized and directed to execute and deliver a nonarbitrage certificate and tax compliance agreement (the "Tax Compliance Agreement") in a form not inconsistent with this Resolution as may be approved by the officers of the City executing such document, whose approval shall be evidenced conclusively by the execution and delivery thereof. Arbitrage Covenants. The City covenants that it shall not take or omit to take any action the taking or omission of which will cause the VRA Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, and regulations issued pursuant thereto (the "Code"), or otherwise cause interest on the VRA Bonds to be includable in the gross income of the registered owners thereof under existing law. Without limiting the generality of the foregoing, the City shall comply with any provision of the Tax Compliance Agreement that may require the City at any time to rebate to the United States any part of the earnings derived from the investment of the gross proceeds of the Bond, unless the City receives an opinion of nationally recognized bond counsel that compliance with any such covenant is not required to prevent interest on the VRA Bonds from being included in the gross income for federal income tax purposes of the registered owners thereof under existing law. The City shall pay any such required rebate from legally available funds. Private Activity Bond Covenant. The City covenants that it shall not permit the proceeds of the Bond or the facilities refinanced therewith to be used in any manner that would result in (a) 5% or more of such proceeds or facilities being used in any trade or business carried on by any person other than a governmental unit, as provided in Section 141(b) of the Code, (b) 5% or more of such proceeds or facilities being used with respect to any output facility (other than a facility for the furnishing of water), within the meaning of Section 141 (b)(4) of the Code, or (c) 5% or more of such proceeds being used directly or indirectly to make or finance loans to any person other than a governmental unit, as provided in Section 141(c) of the Code; provided, however, that if the City receives an opinion of nationally recognized bond counsel that compliance with any such covenant is not required to prevent the Bond from being deemed a "private activity bond" under applicable law, the City need not comply with such covenant. Official Statement. The City authorizes and consents to the inclusion of information with respect to the City contained in VRA's Preliminary Official Statement and VRA's Official Statement in final form, both prepared in connection with the sale of the VRA Bonds. The City Manager is authorized and directed to take whatever actions are necessary or appropriate to aid VRA in ensuring compliance with Securities and Exchange Commission Rule 15c2-12. SNAP Investment Authorization. The City Council has heretofore received and reviewed the information Statement describing the State Non -Arbitrage Program of the Commonwealth ("SNAP") and the Contract Creating the State Non -Arbitrage Program Pool (the "Contract"), and the City Council has determined to authorize the City Treasurer to utilize SNAP in connection with the investment of the proceeds of the Bond, if the City Manager, in consultation with the City Treasurer, determines that the utilization of SNAP is in the best interests of the City. The City Council acknowledges the Treasury Board of the Commonwealth is not, and shall not be, in any way liable to the City in connection with SNAP, except as otherwise provided in the Contract. Election to Proceed. under Public Finance Act. In accordance with Sections 15.2- 2601 and 15.2-2643 of the Code of Virginia of 1950, as amended (the "Virginia Code"), the City Council elects to issue the Bond pursuant to the provisions of the Public Finance Act of 1991, Chapter 26 of Title 15.2 of the Virginia Code, without regard to the provisions of the City Charter. Filing of Resolution. The appropriate officers or agents of the City are hereby authorized and directed to cause a certified copy of this Resolution to be filed with the Circuit Court of Fairfax County, Virginia. Other Actions. All other actions of officers of the City in conformity with the purposes and intent of this Resolution and in furtherance of the issuance and sale of the Bond and the refunding of the Refunded Installments are hereby ratified, approved and confirmed. The officers of the City are authorized and directed to execute and deliver all certificates and instruments and to take all such further action as may be considered necessary or desirable in connection with the issuance, sale and delivery of the Bond and the refunding of the Refunded Installments. Repeal of Conflicting Resolutions. All resolutions or parts of resolutions in conflict herewith are repealed. Effective Date. This Resolution shall take effect immediately. Adopted: March 26, 2019 Mayor Attest: City Clerk The vote on the motion to approve was recorded as follows: VOTE: Councilmember DeMarco Aye Councilmember Lim Aye Councilmember Miller Aye Councilmember Passey Aye Councilmember Stehle Aye Councilmember Yi Aye I A I11 f110 [FORM OF BOND] Interest on this bond is intended by the issuer thereof to be included in gross income for federal income tax purposes. REGISTERED R-1 UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF FAIRFAX Taxable Sewer System Revenue Refunding Bond Series 2019 REGISTERED ,2019 The City of Fairfax, Virginia (the "City"), a municipal corporation and political subdivision of the Commonwealth of Virginia (the "Commonwealth"), for value received, acknowledges itself in debt and promises to pay to the Virginia Resources Authority, or its registered assigns or legal representative ("VRA"), solely from the sources hereinafter described and pledged to the payment of this bond the principal sum of DOLLARS ($ ). Principal of this bond shall be payable in annual installments in the amounts and on the dates set forth in Schedule I attached hereto. Interest on this bond shall be payable on each and _, commencing 20_ -, computed on the basis of a 360-day year of twelve 30-day months at the rates set forth in Schedule I. If any installment of principal of and interest on this bond is not paid to the registered owner of this bond within five days after its due date, the City shall pay to VRA a late payment charge in an amount equal to five percent (5%) of the overdue installment. Subject to the provisions of the Local Bond Sale and Financing Agreement dated as of _, 2019 (the "Financing Agreement"), between VRA and the City, so long as this bond is held by or for the account of VRA or its registered assigns or legal representative, interest is payable by (i) check or draft mailed to the registered owner of this bond at the address that appears on the 15th day of the month preceding each interest payment date on the registration books kept by the City Treasurer, who has been appointed registrar and paying agent, or any successor bank or trust company (the "Registrar"), or (ii) wire transfer pursuant to the most recent wire instructions received by the Registrar from such registered owner, except that the final payment is payable upon presentation and surrender of this bond at the office of the Registrar. Principal of and premium, if any, and interest on this bond shall be payable in lawful money of the United States of America. In case the payment date on this bond shall not be a Business Day (as defined below), then payment of principal, premium, if any, and interest need not be made on such date, but may be made on the next succeeding Business Day, and, if made on such next succeeding Business Day, no additional interest shall accrue for the period after such payment date. "Business A-1 Day" means any Monday, Tuesday, Wednesday, Thursday or Friday on which commercial banking institutions generally are open for business in New York and Virginia. This bond has been authorized by a resolution adopted by the City Council of the City on March 26, 2019 (the "Resolution"), and is issued pursuant to the Constitution and statutes of the Commonwealth (including the Public Finance Act of 1991 but without regard to the provisions of the City Charter), the Resolution and the Financing Agreement. Proceeds of this bond will be used to provide funds to (a) refund a portion of the City's outstanding Sewer System Revenue Refunding Bond, Series 2014 (such refunded portion, the "Refunded Installments"), and (b) to pay issuance and financing costs incurred in issuing this bond and refunding the Refunded Installments. Subject to the City's right to apply Revenues (as defined in the Financing Agreement) to the payment of Operation and Maintenance Expenses (as defined in the Financing Agreement), Revenues are pledged to the payment of principal of and premium, if any, and interest on this bond and the payment and performance of the City's obligations under the Financing Agreement. Additional bonds secured on a parity as to the pledge of the Revenues with this bond may be issued on terms provided in the Financing Agreement. This bond shall not be deemed to constitute a pledge of the faith and credit of the Commonwealth or any political subdivision thereof, including the City. Neither the Commonwealth nor any political subdivision thereof, including the City, shall be obligated to pay the principal of and premium, if any, and interest on this bond or other costs incident thereto except from the revenues pledged therefor, and neither the faith and credit nor the taxing power of the Commonwealth or any political subdivision thereof, including the City, is pledged to the payment of the principal of and premium, if any, and interest on this bond or other costs incident thereto. If any failure of the City to pay all or any portion of any required payment of the principal of or premium, if any, or interest on this bond results in a withdrawal from any VRA Reserve (as defined in the Financing Agreement), the interest rates applicable to this bond shall be increased to interest rates sufficient to reimburse the VRA Reserve for any foregone investment earnings and/or pay any interest, fees or penalties assessed as a result of the drawing on the VRA Reserve. The increment of interest payable pursuant to the increase in rates shall be referred to as "Supplemental Interest." The term "interest" as used in this bond shall include Supplemental Interest, when and if payable. The City's obligation to pay Supplemental Interest shall commence on the date of VRA's withdrawal of funds from the VRA Reserve occasioned by the City's failure to pay a required payment or portion thereof as described above (the "Supplemental Interest Commencement Date"). The City's obligation to pay Supplemental Interest shall terminate on the date on which the City remedies such failure to pay by making all payments required but outstanding since the date of such failure to pay (the "Supplemental Interest Termination Date"). From the Supplemental Interest Commencement Date to the Supplemental Interest Termination Date, Supplemental Interest shall be due and payable on the regularly scheduled interest payment dates provided for in this bond. As soon as reasonably possible after the Supplemental Interest Commencement Date and before the next regularly scheduled interest payment date provided for in this bond, VRA shall deliver to the City a certificate as to the increase in interest rates and the amount of Supplemental Interest. The certificate shall set forth in reasonable detail the basis for A-2 the increase in interest rates and the manner of calculation of the increase and the amount of Supplemental Interest. Such certificate shall be conclusive (absent manifest error) as to the interest rate increase and amount of Supplemental Interest set forth therein. In determining the interest rate increase and the amount of Supplemental Interest, VRA may use any reasonable averaging and attribution methods. This bond may be redeemed, prepaid or refunded at the option of the City upon the terms set forth in the Financing Agreement. This bond is issuable as a fully registered bond. Upon surrender of this bond at the Registrar's office, together with an assignment duly executed by the registered owner or such owner's duly authorized attorney or legal representative in such form as shall be satisfactory to the Registrar, the City shall execute, and the Registrar shall authenticate and deliver in exchange, a new bond or bonds in the manner and subject to the limitations and conditions provided in the Resolution, having an equal aggregate principal amount, in authorized denominations, of the same series, form and maturity, bearing interest at the same rate and in the same manner, and registered in such names as requested by the then registered owner of this bond or such owner's duly authorized attorney or legal representative. Any such exchange shall be at the City's expense, except that the Registrar may charge the person requesting such exchange the amount of any tax or other governmental charge required to be paid with respect to it. The Registrar shall treat the registered owner of this bond as the person exclusively entitled to payment of principal of and premium, if any, and interest on this bond and the exercise of all other rights and powers of the owner, except that interest payments shall be made to the person shown as the owner on the registration books on the 15th day of the month preceding each interest payment date. All acts, conditions and things required by. the Constitution and statutes of the Commonwealth of Virginia to happen, exist or be performed precedent to and in connection with the issuance of this bond have happened, exist and have been performed. [Remainder of page intentionally left blank.] A-3 IN WITNESS WHEREOF, the City of Fairfax, Virginia, has caused this bond to be signed by the Mayor of the City, its seal to be affixed hereto and attested by the [Assistant] City Clerk, and this bond to be dated the date first above written. (SEAL) ATTESTED: City Clerk, City of Fairfax, Virginia OC-40'1 L91- Mayor, City of Fairfax, Virginia A-4 ASSIGNMENT FOR VALUE RECEIVED the undersigned sell(s), assign(s) and transfer(s) unto (Please print or type name and address, including postal zip code, of Transferee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF TRANSFEREE: the within bond and all rights thereunder, hereby irrevocably constituting and appointing Attorney, to transfer said bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: Signature Guaranteed NOTICE: Signature(s) must be guaranteed by an Eligible Guarantor Institution such as a Commercial Bank, Trust Company, Securities Broker/Dealer, Credit Union or Savings Association who is a member of a medallion program approved by The Securities Transfer Association, Inc. (Signature of Registered Owner) NOTICE: The signature above must correspond with the name of the registered owner as it appears on the front of this bond in every particular, without alteration or enlargement or any change whatsoever. A-5 SCHEDULEITO CITY OF FAIRFAX, VIRGINIA TAXABLE SEWER SYSTEM REVENUE REFUNDING BOND SERIES 2019 Principal Principal Principal Installment Installment Installment Interest Number Amount Due Date Rate [to be completed after pricing of VRA Bonds] A-6 037832.0000045 EMF_US 73034606A