01-22-1990 Council Packet - Laserfiche WebLink

Home Browse Search

AWARD The Certificates will be awarded to the bidder offering the lowest dollar interest cost to be deternnined by the deduction of the premium, if any, from, or the addition of any amount less than par, to the total dollar interest on the Certificates from their data to their final scheduled maturity. The D'strict ’s computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The District will reserve the right to; (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Certificates, (ii) reject all bids without cause, and, (iii) reject any bid which the District determines to have failed to comply with the terms herein. REGISTRAR The District will name the registrar which shall be subject to applicable SEC regulations. The District will pay for the services of the registrar. CUSIP NUMBERS If the Certificates qualify for assignment of CUSIP numbers such numbers will be printed on the Certificates, but neither the failure to print such numbers on any Certificate nor any error with respect thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the Certificates. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the purchaser. SETTLEMENT Within 40 days following the date of their award, the Certificates will be delivered without cost to the purchaser at a place mutually satisfactory to the District and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Briggs and Morgan, a Professional Association of Saint Paul and Minneapolis, Minnesota, which opinion will be printed on the Certificates, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Certificates shall be made in fe ‘>ral, or equivalent, funds which shall be received at the offices of the District or its designee r,<jt later than 12:00 Noon, Central Time. Except as compliance with the terms of payment for the Certificates shall have been made impossible by action of the Distric', or its agents, the purchaser shall be liable to the District for any loss suffered by the District by reasons of the purchaser ’s non- compliance with said terms for payment. OFFICIAL STATEMENT Unden^vriters may obtain a copy of the Official Statement by request to the District ’s Financial Advisor prior to the bid opening. The syndicate manager will be provided with 50 copies of the Official Statement. Dated December 11.1989 BY ORDER OF THE SCHOOL BOARD /s/ Katherine P. Crosby District Clerk - II