Yield on Xxxxx and Prior Issue Sample Clauses

Yield on Xxxxx and Prior Issue. The Yield on the Bonds is ________% per annum, compounded semiannually using a 30/360 day convention, as set forth in the Verification Report for Bonds attached hereto as Exhibit F. Yield is the discount rate that, when used to compute the present value of all payments of principal and interest paid and to be paid on the issue, produces an amount equal to the issue price (including accrued interest, if any). In addition, in computing the Yield on the Bonds, an adjustment has been made for the Bonds that mature in the years 2025 through 2030 (the “Special Callable Bonds”), because each maturity of substantially identical Special Callable Bond is being issued at an issue price that exceeds its stated redemption price at maturity by more than ¼% multiplied by the product of its state redemption price at maturity and the number of complete years to its first optional redemption date. The Yield on the Bonds is computed by treating each maturity of substantially identical Special Callable Bonds as redeemed at its stated redemption price on the optional redemption date that would produce the lowest yield on such maturity of substantially identical Special Callable Bonds. In this case, the lowest yield on each maturity of substantially identical Special Callable Bonds is produced by treating each maturity of substantially identical Special Callable Bonds as redeemed at its stated redemption price on March 1, 2024.