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The 2024.Bonds are being issued for the purpose of financing the acquisition and <br />preservation of environmentally sensitive lands and the construction of public access <br />improvements with respect thereto in.and for the Issuer. <br />SECURITY <br />The 2024 Bonds are secured by the full faith and credit of the County, which has covenanted <br />to levy an ad valorem tax without limitation as to rate or amount to pay principal and.interest on <br />the 2024 Bonds. <br />[MUNICIPAL BOND INSURANCE <br />The purchase of municipal bond insurance, if available, will be at the option and expense <br />of the bidder. The successful bidder will be responsible for the payment of all costs associated with <br />any such insurance, including the premium charged by the insurer. The bidder understands, by <br />submission of its bid, that the bidder is solely responsible. for the selection of any insurer and for <br />all negotiations with the insurer as to the premium to be paid. If all or a portion of the Series 2024 <br />Bonds are awarded on an insured basis, reference to the insurance policy will appear -on the Series <br />2024 Bonds and in the Official Statement; however, .the provisions. of the financing documents <br />will not be altered nor will the County, consent to make additional representations, undertakings or <br />warranties. <br />In addition, if the successful bidder is arranging for bond.insurance for all or a portion of <br />the Series 2024 Bonds, it also shall provide the amount of the premium to be paid and certification <br />that the present value of the premium is less than the present value of the interest reasonably <br />expected to be saved as a result of the insurance and that the premium does not exceed a reasonable <br />arms -length charge for the transfer of credit risk accomplished through the bondinsurance. Insured <br />ratings with the use of bond insurance, if required, are to be applied for by the; successful bidder, <br />and costs incurred for such ratings must be paid at the successful bidder's expense] <br />RATING <br />Standard & Poor's Ratings Group has assigned a municipal bond rating of " <br />( ) to the 2024 Bonds. <br />TERMS OF BID AND BASIS OF AWARD <br />Proposals must. be unconditional and for the purchase of all of the 204 :Bonds. The <br />aggregate purchase price, inclusive of original issue discount ("OID), original issue premium <br />COIP") and underwriter's discount, may not be less than 100% of the principal amount of the 2024 <br />Bonds. The reoffering price of the 2024 Bonds may not be less than 98% of the -principal amount <br />of the 2024 Bonds for any single maturity thereof. <br />The 2024 Bonds shall bear interest expressed in multiples of one-eighth (1/8) or one - <br />twentieth (1/20) of one (1) per centum. The use of split or supplemental interest coupons will not <br />