Department of Finance city of chicago
December 14,2017
o
m
Andrea M. Valencia City Clerk
121 N. LaSalle St., Room 107 Chicago, IL 60602
Re: Sales Tax Securitization Corporation ^ Sales Tax Securitization Bonds, Series 2017
Dear Ms. Valencia:
Attached is the Notification of Sale which is required to be filed with your office pursuant to Section 5(j) and Section 6(a) of the Ordinance Establishing the Sales Tax Securitization Corporation and Providing for Certain related Matters of the City Council of the City, approved by the City Council of the City of Chicago on October 11, 2017.
Please direct this filing to the City Council.
Carole L. Brown Chief Financial Officer
121 NORTH LASALLE STREET, SUTTE 700: CHICAGO, ILLINOIS 60602
NOTIFICATION OF SALE
City Council of the City of Chicago Office of the City Clerk 121 N. LaSalle St., Room 107 Chicago, IL 60602
Pursuant to Section 5(j) and Section 6(a) of the Ordinance Establishing the Sales Tax Securitization Corporation and Providing for Certain related Matters of the City Council of the City (the "Ordinance"), approved by the City Council of the City of Chicago on October 11, 2017, authorizing the issuance by the Sales Tax Securitization Corporation (the "Corporation") of $172,065,000 aggregate principal amount of Sales Tax Securitization Bonds, Series 2017A, $400,630,000 aggregate principal amount of Sales Tax Securitization Bonds, Taxable Series 2017B, and $171,040,000 aggregate principal amount of Sales Tax Securitization Bonds, Taxable Series 2017C (collectively, the "Series 2017 Bonds"), 1 am filing with you this notification of sale and providing additional information regarding the Series 2017 Bonds. (Unless otherwise defined, capitalized terms are used as defined in the Ordinance.)
The attached Exhibits excerpted from the Offering Circular relating to the Series 2017 Bonds describe the following information:
(i) Exhibit 1 describes the series designation, the aggregate principal amount and maturity
schedule for the Scries 2017 Bonds, the interest rates on the Series 2017 Bonds and whether such
interest is tax-exempt or taxable;
Exhibit 2 describes the authorized denominations and redemption provisions for the Series 2017 Bonds;
Exhibit 3 describes the specific maturities, series and amounts of the City bonds (the ("Refunded Obligations") to be refunded with proceeds of the Series 201 7 Bonds and the date on and price at which the Refunded Obligations shall be redeemed (if such redemption shall occur prior to staled maturity or pursuant to mandatory sinking fund redemption):
Exhibit 4 describes the identity of the underwriters for the Series 2017 Bonds; and
Exhibit 5 describes the purposes for the Series 2017 Bonds were issued.
In addition, the following information is provided pursuant to Section 5(j) of the Ordinance:
(i) The disposition of the revenues pledged and/or the taxes levied or imposed for payment of the Refunded Obligations for the years following the date of issuance of the Series 2017 Bonds is as follows: the City will partially abate the levy of property taxes for levy years
2017 and following in order to reflect payment of the Refunded Obligations with the proceeds of the Series 2017 Bonds;
None of the Series 2017 Bonds were insured by a bond insurance company;
The Bank of New York Mellon Trust Company. N. A. is the trustee for the Series 2017 Bonds:
, Aggregate underwriter compensation paid in connection with the sale of the Series 2017A Bonds and the Series 2017B Bonds was $3,556,506.57; and underwriter compensation paid in connection with the sale of the Series 2017C Bonds was $669,464.34; and
In connection with the refunding of the Refunded Obligations, The Bank of New-York Mellon Trust Company, N.A., was appointed as both the Series 2017AB Escrow Agent and Series 2017C Escrow Agent.
In addition, the following information is provided pursuant to Section 6(a) of the Ordinance:
(i) With respect to each series of Series 2017 Bonds, the Sales Tax Revenues for the most recently completed fiscal year are at least 150 percent of the aggregate maximum annual debt service for such series of Series 2017 Bonds plus all other Sales Tax Obligations previously issued and outstanding upon issuance of such series of Sales Tax Obligations.
IN WITNESS WHEREOF, I have set my hand this 14th day of December,
Name: Carole L rown Title: Chief Financial Officer
IXI.:-.\'-9K-7')25 I
EXHIBIT I
MATURITY SCHEDULE $743,735,000 Sales Tax Securitization Bonds, Series 2017
S172,065,000 Sales Tax Securitization Bonds, Series 2017A C~t (4 ^ - r5/£/?y3
Maturity Principal Interest
(January I) Amount Rate Yield l'l IS 11" No.
$ 3,000,000 5.00% 1.70% 79467BAA3
3,150,000 5.00 1.78 79467BAB1
15,045,000 5.00 1.87 79467BAC9
15,800,000 5.00 1.95 79467BAD7
16,590,000 5.00 2.05 79467BAE5
17,420,000 ' 5.00 2.13 79467BAF2
18,290,000 5.00 2.16 79467BAG0
19,205,000 5.00 2.22 79467BAH8
20,165,000 5.00 2.27 79467BAJ4
21,170,000 5.00 2.33(1> 79467BAK1
22,230,000 5.00 2.401" 79467BAL9
$400,630,000 Sales Tax Securitization Bonds, Taxable Series 2017B
$50,485,000 Scries 2017B Serial Bonds
Maturity Principal Interest (January I) Amount Rate Price CUSIP* No.
$24,825,000 3.372% 100% 79467BAM7
25,660,000 3.422 100 79467BAN5
$350,145,000 3.587% Series 2017B Term Bonds Due January 1, 2043, Price 100%, CUSIPt No. 79467BAR6
$171,040,000 Sales Tax Securitization Bonds, Taxable Series 2017C
Maturity Principal Interest
(January 1) Amount Rate ( USll" No.
2022 $12,000,000 2.596% 79467BAS4
202? 17.905.000 2.754 79467BAT2
18,400,000 2.854 79467BAU9
18,925.000 2.980 79467BAV7
19,490,000 3.105 79467BAW5
20.090,000 3 180 79467BAX3
20,730,000 3.230 79467BAY1
21,400,000 3.280 79467BAZ8
22,100,000 3.330 79467BBA2
Priced to first optional call on January 1, 2028. f Copyright, American Bankers Association ("ABA"). CUSIP data herein arc provided by CUSIP Global Services, operated on behalf of the ABA by S&P Global Market intelligence, a division of S&P Global Inc. The CUSIP numbers listed above axe being provided solely for the convenience of holders of the Series 2017 Bonds only at the time of issuance of the Series 2017 Bonds and neither the Corporation nor the t Jmlerwriters make any representation with respect to such numbers or undertakes any responsibility for their accuracy now or at any time in the future. The CUSIP number for a specific maturity is subject to being changed after the issuance of the Scries 2017 Bonds as a result of vai ions subsequent actions including, but not limited to, a refunding in whole or in part of such maturity or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of certain maturities of the Series 2017 Bonds.
EXHIBIT 2
THE SERIES 2017 BONDS
The following summary describes certain terms of the Series 2017 Bonds. This summary does not purport to be complete and is subject to, and qualified in its entirety by reference to, the provisions of the Indenture and the Series 2017 Bonds. Copies of the Indenture may be obtained upon written request to the Trustee.
Generwl
The Series 2017 Bonds will be dated the date of delivery, will mature on January 1, and will bear interest from the dated date until paid or redeemed, payable semiannually on each January 1 and July 1, commencing July 1, 2018. The Series 2017 Bonds will bear interest at the rates per year, and will mature in the principal amounts on January 1 in each year, as set forth on the inside cover page of this Offering Circular. Interest on the Series 2017 Bonds will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Series 2017 Bonds will be issued as fully registered bonds in denominations of $5,000 or any integral multiples thereof (each an "Authorized Denomination").
Redemption
Series 2017A Bonds Optional Redemption
The Series 20I7A Bonds are subject to redemption prior to maturity, at the election or direction of the Corporation, in whole or in part (and, if in part, in an Authorized Denomination) on any date on or after January 1, 2028 at a Redemption Price of par plus any accrued interest thereon to the date fixed for redemption.
21
EXHIBIT 2
Selection of Series 2017 A Bonds to be Redeemed
If less than all of the Series 2017A Bonds of a single maturity and tenor are to be redeemed, the particular Series 2017A Bonds of such maturity to be redeemed shall be selected by lot by the Trustee by such method of selection as it shall deem proper in its discretion.
Taxable Bonds
Make Whole Optional Redemption of Taxable Bonds
The Taxable Bonds are subject to redemption prior to maturity, at the election or direction of the Corporation, on any date, in whole or in part, and if in part from such maturities and interest rates as shall be determined by the Corporation on any Business Day (as defined below) at a redemption price equal to the greater of: (A) the principal amount of such Taxable Bonds to be redeemed, or (B) the sum of the present values of the remaining scheduled payments of principal and interest on such Taxable Bonds lo be redeemed, not including any portion of those payments of interest accrued and unpaid as of the date such Taxnblc Bonds are to be redeemed, discounted to the date of redemption of such Taxable Bonds to be redeemed on a semiannual busis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (defined below) plus 15 basis points plus accrued interest on such Taxable Bonds being redeemed to the date fixed for redemption.
The make whole optional redemption price of any Taxable Bond to be redeemed will be calculated by an independent accounting firm, investment banking firm or financial advisor (the "Calculation Agent") retained by the Corporation at the Corporation's expense. The Trustee and die Corporation may rely on the Calculation Agent's determination of the make whole optional redemption price and will not be liable for such reliance. The Corporation shall confirm and transmit the redemption price as so calculated on such dates and lo such parties as shall be necessary to effectuate such redemption.
The "Treasury Rate" is, as of any redemption date for a Taxable Bond, the time-weighted interpolated average yield for a term equal to the Make Whole Period of the yields of the two U.S. Treasury nominal securities at "constant maturity" (as compiled and published in the Federal Reserve Statistical Release H.15 (519) that is publicly available not less than two (2) Business Days (as defined below) nor more than 30 calendar days prior to the redemption date (excluding inflation indexed securities) (or, if such Statistical Release is no longer published, any puhlk ly available souux of similar market data) irwiuriMS immediately preceding and succeeding the Make Whole Period. TIk.- 'iv.--.tsi.n-y U;iU: will he deti-mnned by the (";nVulation Agent or an independent accounting linn, investment banking firm, or financial advisor retained and compensated by the Corporation at ns a Corporation Kxpcnse.
"Make Whole Period" means the number of years, including any fractional portion thereof, calculated on the basis of a 360-day year consisting of twelve 30-diry months, between the redemption date and the remaining weighted average life of each Taxable Bond to be redeemed.
"Business Day" for purposes of this section "— Make Whole Optional Redemption" means any day other than a day on which banks in New York, New York, Chicago, Illinois, or the city in which the Trustee maintains its designated office are required or authorized to close.
EXHIBIT 2
Mandatory Redemption from Sinking Fund Installments of Series 20 HB Bonds
The Series 20I7B Bonds maturing on January' 1, 2043 are Term Bonds subject to mandatory redemption from Sinking Fund Installments at a Redemption Price equal to 100% of the principal amount being redeemed, plus accrued interest, on the dates and in the amounts set forth below:
Series 2017B Bonds maturing on January 1, 2043
Year Principal
(January 0 Amount
$26,540,000
27,490,000
28,470,000
29,490,000
30,545,000
31,635,000
2039 32,765,000
2040 33,940,000
2041 35,150,000
2042 36,410,000
2043' 37,710,000
i Stated maturity
The Corporation may, at any time subsequent to the first day of any Fiscal Year but in no event less than twenty (20) days prior to the succeeding date on which a Sinking Fund Installment is scheduled to be due, direct the Trustee to purchase, with money on deposit in the Debt Service Fund, at a price not in excess of par plus interest accrued and unpaid to the date of such purchase, Series 2017B Bonds to be redeemed from such Sinking Fund Installment, The principal amount of each Series 2017B Bond so canceled will be credited against the Sinking Fund Installment due on such date.
Selection of Taxable Bonds to be Redeemed
If less than all of the.Ta\able Bonds of a single Series and maturity are to be redeemed, the particular Taxable Bonds or portions thereof to be redeemed will be selected on a pro-rata pass-through distribution of principal basis in accordance with DTC procedures, provided that the selection for redemption of such Taxable Bonds will be made in accordance with the operational arrangements of DTC then in effect.
It is the Corporation's intent that redemption allocations made by DTC be made on a pro-rata pass-through distribution of principal basis as described above However, none of the Corporation, the Underwriters or the Trustee can provide any assurance thai DTC, DTCs Participants or any other intermediary will allocate the redemption of Taxable Bonds on such basis. If the DTC operational arrangements do not allow for the redemption of the Taxable Bonds on a pro-rata pass-through distribution of principal basis as discussed above, then the Taxable Bonds will be selected for redemption in accordance with DTC procedures, by lot.
Notice of Redemption
When Bonds are to be redeemed, the Trustee will give notice of the redemption of the Bonds in the name of the Corporation which notice will specify the Bonds to be redeemed, the maturity dates and interest rates of the Bonds to be redeemed and the date such Bonds were issued; the numbers and other distinguishing marks of the Bonds to be redeemed, including CUSIP numbers; the redemption date; the Redemption Price, if then known; and the principal amount of each Bond to be redeemed. If the Corporation's obligation to redeem the Bonds is subject to conditions, the notice will include a statement to that effect and of the conditions to such redemption. Such notice shall further state that, if on such date all conditions to redemption have been satisfied, there shall become due and payable on such date upon each Bond to be redeemed the Redemption Price thereof, together with interest accrued and unpaid thereon
EXHIBIT 2
to the redemption date, and that, from and after such date, payment having been made or provided for, interest thereon shall cease to accrue,
The Trustee will give notice by mailing a copy of such notice not less than twenty (20) days (or such shorter period if then permitted by DTC) nor more Utan sixty (60) days prior to the redemption date by mail, to the registered owners of the Bonds which are to be redeemed, at their last known addresses appearing on the registration books not more than ten (10) Business Days prior to the date such notice is given. The failure of any Holder of a Bond to be redeemed to receive such notice shall not affect the validity of the proceedings for the redemption of the Bonds.
Payment of Redeemed Bonds
Notice having been given by mail in the manner described above, the Bonds or portions thereof so called for redemption will become due and payable on the redemption date so designated at the Redemption Price, plus interest accrued and unpaid to the redemption date, and, upon presentation and surrender of such Bonds, at the office or offices specified in such notice, such Bonds, or portions thereof, shall be paid at the Redemption Price, plus interest accrued and unpaid to the redemption date. If there is drawn for redemption less than all of the principal amount of a Bond, the Corporation will execute and the Trustee will authenticate and deliver, upon the surrender of such Bond, without charge to the owner thereof, for the unredeemed balance of the principal amount of the registered Bond so surrendered, Bonds of like Series, maturity" and tenor in any of the authorized denominations. If, on the redemption date, money for the redemption of all Bonds or portions thereof of any like Series, maturity and tenor to be redeemed, together with interest accrued and unpaid thereon to the redemption date, shall be held by the Trustee and Paying Agents so as to be available therefor on such date and if notice of redemption shall have been mailed as described above, then, from and after the redemption date, interest on the Bonds or portions thereof so called for redemption shall cease to accrue and such Bonds shall no longer be considered to be Outstanding under the Indenture. If such money is not available on the redemption date, such Bonds or portions thereof shall continue to bear interest until paid at the same rate as they would have borne had they not been called for redemption.
2't
EXHIBIT 3
APPENDIX D SUMMARY OF REFINANCED OBLIGATIONS
The following is a list of the bonds issued by the City of Chicago that will be refunded with a portion of the proceeds of the Series 2017 Bonds. The following is subject to delivery of the required redemption notices. CUSIF' numbers are provided for convenience and no representation is made with respect to the accuracy of such CUSIP numbers. All of the bonds listed below are the Refinanced Obligations described in "PLAN OF FINANCE".
Sales Tax Revenue Bonds
Series
2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002
¦JQ8
¦JR6
JS4
¦JT2
¦JU9
•JV7
JW5
JX3
JY1
¦JZ8
¦KAI
¦K.B9
¦KC7
¦KD5
¦KE3
•KF0
•KG8
CUSIP Number
I6768T I6768T-16768T-16768T-16768T-16768T-16768T-16768T-I6768T-I6768T-16768T-16768T-16768T-16768T-16768T-16768T-16768T-
Maturity
Date 1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2030 1/1/2031 1/1/2032 1/1/2033 1/1/2034'
Interest
Rate 3.000% 4.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000
Outstanding Principal
$ 605,000 635,000 5,250,000 5.490,000 5,735,000 5,995,000 6,265,000 6,550,000 6,850,000 7,155,000 7,485,000 7,820,000 8,170,000 8,545,000 8,935,000 9,335,000 9.760,000
Principal Refunded
$ 605,000 635.000 5,250,000 5,490,000 5,735,000 5,995,000 6,265,000 6,550,000 6,850,000 7,155,000 7,485,000 7,820,000 8,170,000 8,545,000 8,935,000 9,335,000 9,760,000
Redemption
Date
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A 1/1/2025 1/1/2025 1/1/2025 1/1/2025 1/1/2025 1/1/2025 1/1/2025 1/1/2025 1/1/2025
Redemption Price N/A N/A N/A N/A N/A N/A N/A N/A 100% 100 100 100 100 100 100 100 100
2011A 2011A<" 2011A<31
16768T-JK1 16768T-JL9 J6768T-JJ4
1/1/2035 1/1/2038 1/1/2041
4.375 5.250 5 000
9,890.000 94,520.000 109,930.000
9,890,000 94,520,000 ' 109.930,000
1/1/2022 1/1/2022 1/1/2022
100 100 100
1/16/2018 Make Whole<2>
2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A 2009A
I6768T-I6768T-167681-16768T-16768T-16768T-I6768T-I6768T-167681-16768T-16768T-16768T-167681'-I6768T-
VILI
II.M9
IIN7
IIZ0
IIP2
1IQ0
RR8
IIS6
¦HT4
HU1
UV9
HW7
HY3
HX5
1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2029
4.250
250 4.250 4.500 3.750
000 5 000 5.000 5.000 5.000 5.000 5.000 5.000 4.000
1,090,000 1,130.000 1.180.000 2,400,000 2,500.000 5,090,000 5,260,000 5,510.000 5,765,000 6,030,000 6,310,000 11,255,000 10,905,000 4,305,000
1.090,01)0 1.130.000 1, 180,000 2.400.000 2,500.000 5,090.000 5.260.000 5.510.000 5.765,000 6.030,000 6,310,000 11,255,000 10,905,000 4,305,000
N/A
N/A
N/A 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020 1/1/2020
N/A N/A N/A 100 100 100 100 100 100 100 100 100 100 100
I6768T-JA3
20090-' 20090"; 2009C1" 2009C") 2009C"> 2009O"
I6768T-JB1 16768T-JC9 16768 T-J D7 16768T-JF.5 I6768T-JF2 I6768T-JG0
1/1/2028 1/1/2030 1/1/2031 1/1/2032 1/1/2033 1/1/2034
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A
3.435,000 I5.9IO.000 13.730.000 15.985.000 i 5.960.000 15.930,000
N/A N/A N7A N/A N/A N/A
N/A N/A N/A N/A N/A N/A
D-1
EXHIBIT 3
2005 2005 2005 2005 2005 2005 2005 2005 2005
16768T-BY6 I6768T-F.Z3 I6768T-FB5 I6768T-FC3 I6768T-FD1 16768T-FE9 16768T-FF6 16768T-FG4 16768T-FJ8
1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2023 1/1/202-1 1/1/2025 1/1/2026 1/1/2027
5.000 5.000 5 000 5.000 5.000 5.000 5.000 5.000 5.000
12,870,000 8,925,000 5,685,000 5.965,000 6,265,000 6,575,000 6,905,000 7,250,000 7,615,000
12,870.000 8,925,000 5,685,000 5,965,000 6,265,000 6,575,000 6,905,000 7,250,000 7,615,000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100 100 100 100 100 100
General Obligation Bonds
Series 200 I AW 2001 AW 2001 A« 2001AW 2001A<*> 2001 A*4) 2001 AW 2001 AW
2002A'31 2002A<3>
CUSIP Number
167485-J44
167485-J51
167485-J69
167485-J77
167485-J85
167485-J93
167485-K26
167485-K34
167485-MR9 167485-W49
Maturity
Date 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2030
1/1/2039 1/1/2042
Interest
Rate 5.590% 5.600 5.610 5.620 5.650 5.650 5.650 5.650
5.625 5.000
Outstanding Principal
$2,345,000 2,480,000 2,615,000 2,765,000 2,920,000 3,080,000 3,255,000 3,440,000
850,000 1,455,000
Principal Refunded
6 940,000 995,000 1,050,000 1,110,000 1,170,000 1.235,000 1,305,000 1.380,000
850,000 1,455,000
Redemption Date 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
1/16/2018 1/16/2018
Redemption Price 100% 100 100 100 100 100 100 100
100 100
2003A<3> 2003A<3> 2003AW
20O3C<3> 2003C<3>
167486-TJ8 167486-QK8 167485-3A7
Y32
3M1
1/1/2027 1/1/2034 1/1/2042
1/1/2028 1/1/2035
5.000 5.000 5.000
4.750 5.000
580,000 14,305,000 19,955,000
16,135,000 17,645,000
580,000 4,915,000 8,085,000
2,440,000 2.670,000
1/16/2018 1/16/2018 1/16/2018
1/16/2018 1/16/2018
100 100 100
100 100
I67485-3P4
2004A 2004A 2004A 2004/V"
4M3
21/1 I67-185-2M2 I67485-2N0
I'l/20I8 1/1/2028 1/1/2029 1/1/2034
5.500 5.000 5 250 5 000
4,585.000 3.145.000 3.305.000 54.865.000
4,585,000 2.310,000 2.4? 5,000 14,115,000
N/A 1/16/2018 1/16/2018 1/16/2018
N/A 100 100 100
2005A 2005 A 2005 A 2005 A 2005A 2005A 2005A 2005A 2005A 2005A 2005A 2005A 2005A 2005 A 2005A
167486-A33 167485-CC3 167485-CD1 167485-CK9
CF6
YB9 167486-YC7 167486-YD5
CK5
YE3
CMI
YF0 167485-CP4 167485-CQ2 167485-CR0
1/1/2019 1/1/2020 1/1/2020 I/I/202I 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2025 1/1/2026 1/1/2026 1/1/2027 1/1/2028 1/1/2028
5.000 4.000 5.000 4 000 5.000 5.000 5.000 5.000 4.250 5.000 4.250 5.000 5.000 4.375 5.000
10,240,000 250,000
26.385,000 300,000
12,440,000 885.000 420.000 500,000 210,000 325,000 500,000 280,000
3,095,000 1,790,000 1,170,000
590,000 10,000 610,000 10,000 290,000 310,000 150,000 175,000 30,000 115,000 15,000 100,000 75.000 45,000 30.000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
2005B 2005 B 2005 B 2005B
HN4
YP8 I67486-YQ6 I67486-YR4
1/1/2021 1/1/2022 1/1/2023 1/1/2024
5.000 5.000 5.000 5.000
16,950,000 380,000 475,000 465.000
385,000 380.000 475.000 465.000
1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100
EXHIBIT 3
2005B 2005 B 2005 B 2005B 2005B 2005B 2005B
I67486-YS2
I67486-YT0
I67485-HU8
167485-11V6
167485-HW4
167485-HX2
167485-1IY0
1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2030 1/1/2032
5.000 5.000 5.000 5.000 5.000 5.000 4.750
405,000 5,810,000 26,380,000 27,485,000 21,170,000 16,680,000 32,650,000
405,000 405,000 595.000 620,000 480,000 380.000 745.000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018-1/16/2018 1/16/2018
100 100 100 100 100 100 100
2006A 2006A 2006A 2006A 2006A 2006A 2006A 2006A 2006A 2006A 2006A 2006A<3> 2006A(3> 2006A»3>
167485-QX2 167485-QYO
QZ7
ZD4 t67486-ZE2 167486-ZF9 167486-ZG7 167486-ZH5 167485-RFO 167485-RG8 167485-RJ2 167485-RH6 167485-RK9 167485-RL7
1/1/2020 1/1/2021 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2031 1/1/2030 1/1/2036 1/1/2038
5.000 4.500 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 4.625 4.750 4.750 4.750
27,990,000 15,000,000 24,325,000 5,790,000 5,965,000 5,755,000 3,650,000 3,670,000 26,760,000 23,000,000 26,500,000 49,455,000 51,700,000 28,220,000
2,500,000 1,340,000 2,170,000 4.440,000 4,575,000 4,415,000 2,800,000 2,815,000 2,390,000 2,055,000 2,365,000 4,415,000 4,620,000 2,520.000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100 100 100 100 100 100 100 100 100 100 100
2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A 2007A"' 2007AW ?.007A(i' 2007A(!!
167485-C25 167485-C33 167485-C41 167485-C58 167485-C66 167485-C74 167485-C82 167485-C90 I67485-D24 I67485-D32 167485-D40 167485-D73 167485-081 I67485-D65 167485-D57 167485-1W9
1/1/2020 1/1/2020 1/1/2021 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2026 1/1/2027 1/1/2033 1/1/2033 1/1/2032 1/1/2029 1/1/2037
4.000 5.000 4.000 5.000 5.000 5.000 5.000 5.000 4.250 5.000 5.000 4.500 5.000 5.000 5.000 5.000
945,000 1,300,000 480,000 10,815,000 11,850,000 19,085,000 20,585,000 49,590,000 6,530,000 33,830,000 40.035,000 2,635,000 40.615.000 79,615.000 58,105,000 104.490,000
20,000 355,000 10,000 220,000 240,000 385,000 415,000 1,000,000 135,000 685,000 810,000 55,000 855.000 1.615.000 1,175,000 2 115.000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16.9.018 1/16/2018
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
2007C 2007C 20O7C ,2007C 1 2007C 2007C 2007C 2007C 2007C 2007C 2007C 2007C 2007C 2007C 2007C
167485-Q79 167485-QX7 I674X5-Q95 167485-R29 167485-R37 167485-R45 167485-R52 167485-R60 167485-R78 167485-R86 167485-R94 167485-S28 167485-S36 167485-S44 167485-S51
1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2030 1/1/2031 1/1/2032
5.000 5 000 5.000 5.000 5.000 4.250 5.000 5.000 5.000 5.000 5 000 5 000 5.000 5.000 5.000
12.815.000 9.845.000 5,990,000 7,575,000 8,130,000 2.670,000 4,640,000 25,890,000 26,105,000 19,590,000 21,495,000 27,315,000 27,605,000 28,550,000 12,575,000
1,110.000 1,010,000 615.000 775,000 835,000 275,000 475.000 2,650.000 2.670.000 2,005,000 2,200,000 2,795.000 2,825.000 2,920,000 1.290.000
1/16/20IX 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
2008A 2008A 2008A 2008A 2008A 2008A
167485-5E7
167485-51-4
167485-5G2
I67485-5H0
167485-5J6
167485-5K.3
1/1/2018 1/1/2019 1/1/2020 1/1/2020 1/1/2021 1/1/2022
5 000 5.000 4.000 5 000 5 250 5 250
. 8,220.000 12,775,000 6,545.000 19,425,000 23,880,000 24,950,000
8,220,000 1,280.000 330,000 970,000 1,190,000 1,245,000
N/A 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
N/A 100 100 100 100 100
1X3
EXHIBIT 3
2008A 2008A 2008A 2008A 2008A 2008A 2008A 2008A<3> 2008A<3>
167485-51.1
I67485-5M9
167485-5N7
167485-5P2
167485-5Q0
167485-5R8
167485-5S6
I67485-5T4
167485-5U1
1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027 1/1/2028 1/1/2033 1/1/2033 1/1/2037
5.250 5.250 5.250 5.250 5.250 5.250 4.625 5.250 5.250
24,715,000 24,090,000 27,075,000 12,840,000 13,515,000 14,225,000 5,450,000 58,505,000 52,875,000
1.235,000 1,205,000 1,350,000 640,000 675,000 710.000 275,000 2,930.000 2,640,000
1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018 1/16/2018
100 100 100 100 100 100 100 100 100
'0 Capital Appreciation Bonds. Amounts shown reflect final accreted value at each respective maturity. f2> Determined on the third business day before the redemption date
(3) Maturity date listed is stated maturity of a term bond. Amounts shown reflect outstanding amounts and amounts being refunded of
such term bond.
(4) Conversion Bonds. Amounts shown reflect the accreted value of each respective maturity upon conversion.
D-4
EXHIBIT 4
NEW ISSlffl
$743,735,000 SALES TAX SECURITIZATION CORPORATION
* %' ' Q | ' Sales Tax Securitization Bonds,
* " 'x x3 K-J $172,065,000 Series 20I7A
SALES TAK SECURITIZATION CORPORATION
$400,630,000 Taxable Series 2017B
$171,040,000 Taxable Series 2017C
Dated: Date of Delivery Maturity Dates: January 1, as shown on inside cover
Jefferies1 Rice Financial Products Company
George K. Baum & Company Hutchinson, Shockey, Erley & Co. Valdes & Moreno, Inc.
December 6, 2017, us supplemented on December 7,2017to include the terms of ami information with respect to the Series 2017C Bonds, t Sole Underwriter for the Series 2017C Bonds.
EXHIBIT 5
INTRODUCTORY STATEMENT
The Series 2017 Bonds are being issued to provide funds for the Corporation to purchase all of the City's right, title and interest in and to the Sales Tax Revenues (as hereinafter defined) from the City pursuant to the Sale Agreement (as hereinafter defined). Such funds will be applied by the City to refund all of the outstanding City of Chicago Sales Tax Revenue Bonds and certain of the City's outstanding general obligation bonds. In addition, proceeds of the Series 2017 Bonds will be used to pay costs of issuance of the Series 2017 Bonds. See "PLAN OF FINANCE".
1