Agenda Packets - 1987/12/14 - Laserfiche WebLink

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the time set for bid opening, a certified or cashier's check in the amount f $60,000, payable to the; ' order of ned or Financial tAdvisor. sNolbid wihave llen filed with the beconsidered for which'said check phasnottbeen filed. eThe check of the Purchaser will be retained by The City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the am bids unle s will be deducted at settlement. No bid shall for considra withdrawn after the time set for opening Bidders shall be in the another dateowithout �taward e of scheduled Bands having been thm des'Ra esuofferrned Ied re tharecessed,n or continue o integral multiples of 5/100 or 1/8 of 1%. No rate for any maturity shall be more than Blower than .any prior rate. Bonds of the same maturity shall bear a single rate frarr. the date of the Bonds to the date of maturity. AWARD par, to the total the Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the dedu;tic;, of the premium, !f any, from, or the addition of any amount less than p dollar interest the tthe Snet do dollar pint rest cost of eachr date to ebid,ir �in laccordanlce withtcustomaryhpractice, computation will be controlling. bid or of matters The City will reserve the right to: (i) waive non-substan(!I) informalities o any (III) determines to have failed to comply with the terms herein. relating to the receipt of bids and sword of the Bonds, (ii) reject all bids without cause, an � reject any bid which the City REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. C1+:,1P NUMBERS If tha Bonds qualify for assignment of CUSIP numbers such numbers with respect thereto wil will be printed on the Bonds, u uch numbers on any Bond nor anv error refusal by the Purchaser to accept delivery of the Bonds. The CUSIP neither the failure to print s Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the constitute cause for failure or Purchaser. SETTLEMENT satisfactory to the City and the Purchaser. Delivery will be subject to Within 40 days tollowing the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually approving tlegal opinion of Holmes & Graven, Charterestomary closing dof receipt by the Purchaser of a" on g for the Bonds shall be made Minneopc 'Minnesota, which opinion will be minted tt the Bonds, and of r the Bor s shall bee, not including a no -litigation certificate. s the date ei settlement payment rent for the Bonds to federal, or equivalent, funds which shalt be received at the offices r the City, impossible Ti by action of the City, or its agents, the Purchaser shall he liable to later than I:00 P.M., Central Time• Except as compliance with the terms o pay shall have ben made suffered by the City the of the Purchaser's non-compliance with said the City for -any lossf terms for pay OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request till be with 50 copies o the C!ty's Finance Advisor prior the bid opening. The Purchaser we pof the Official Statement. w BY ORDER OF THE CITY COUNCIL Dated December 14, 1987 /s/ Donald F. Pauley Clerk -Administrator