Laserfiche WebLink
BOND INSURANCE AT UNDERWRITER'S OPTION <br />If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the <br />option of the successful bidder, the purchase of any such insurance policy or the issuance of any such <br />commitment shall be at the sole option and expense of the successful bidder of the Bonds. Any increase in <br />the costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the <br />successful bidder, except that, if the City has requested and received a rating on the Bonds from a rating <br />agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the <br />successful bidder. Failure of the municipal bond insurer to issue the policy after the Bonds have been <br />awarded to the successful bidder shall not constitute cause for failure or refusal by the successful bidder <br />to accept delivery on the Bonds. <br />The City reserves the right to reject any and all Proposals, to waive informalities and to adjourn the sale. <br />Dated: October 5, 2021 BY ORDER OF THE LAKE ELMO, MINNESOTA CITY <br />COUNCIL <br />/s/ Sam Maearearm <br />Finance Director <br />Additional information may be obtained from: <br />Northland Securities, hie. <br />150 South 5"' Street, Suite 3300 <br />Minneapolis, Minnesota 55402 <br />Telephone No.: 612-851-5900 <br />A-7 <br />LA515-85-748041.v1 <br />