01-11-1995 Council Agenda - Laserfiche WebLink

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Award Award will be solely on the basis of lowest dollar interest cost determined by addition of any discount to or deduction of any premium from the total interest on all Bonds from their date to the stated maturity. In the event of a tie, the sale of the Bonds will be awarded by lot. No oral proposal will be considered, and the City reserves the right to reject any and all proposals and to waive any informality in any proposal. CUSIP Numbers The City will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon, but will permit such numbers to be printed at the expense of the purchaser, if the purchaser waives any delay in delivery occasioned thereby. Information From Purchaser The successful purchaser will be required to provide, in a timely manner, certain information relating to the initial offering prices of the Bonds necessary to compute the yield on the Bonds pursuant to the provisions of the Internal Revenue Code of 1986, as amended. Qualified Tax- Exempt Obligations The City will designate the Bonds as qualified tax- exempt obligations for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. Official Statement Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the proposal opening. The Syndicate Manager will be provided with 50 copies of the Final Official Statement within seven business days of the proposal acceptance. Additional copies of the Final Official Statement will be available at a cost of $10.00 per copy. Information for bidders and proposal forms may be obtained from the undersigned or from the City's financial consultant, Ehlers and Associates, Inc., 2950 Norwest Center, 90 South Seventh Street, Minneapolis, Minnesota 55402, telephone (612) 339 -8291. The City reserves the right to reject any and all proposals, and to waive informalities and to adjourn the sale. BY ORDER OF THE CITY COUNCIL Joel Hanson City Administrator City Hall (Little Canada) 515 Little Canada Rd. Little Canada *, MN 55117 Page 38