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86—F <br />(Resolution x'949 Continued) <br />Sealed bids marked ''Bid for $47,000 Bonds" may be mailed <br />or delivered to the undersigned and must be received prior to the time <br />of said meeting. Oral auction bids will not be considered. Each bid <br />must be unconditional except as to legality, in which respect bids <br />may be conditioned upon the opinion of the above attorneys, and must <br />be accompanied by a cashierts or certified check or bank draft in the <br />amount of $940, payable to the Village Treasurer, to be retained by <br />the VillagE as liquidated damages if the bid is accepted and the <br />bidder fails to comply therewith. Bids shall state one basic rate of <br />interest from the date of issue to maturity for all bonds having a <br />common maturity date. Not more than 3 such rates are to be specified <br />for the issue, and the maturities of the bonds may be split not more <br />than 3 ways for the purpose of designation of such rates. Bidders <br />may provide that all or some of the bonds shall bear a higher interest <br />rate and additional coupons for any interest period or periods of the. <br />term of the bonds; hog=sever, the maximum dollar amount payable on <br />account of any such rate shall be $705. Every basic or additional <br />rate, and the combination of such rates during any interest period, <br />shall be in an integral multiple of 1/4 . or 1/10 of 1% per ariitum. The <br />bid offering the lowest net interest cost (total interest from date <br />of issue to stated maturities, less any premium offered) will be <br />•( <br />I <br />deemed the mos t favorable. No bid for less than par plus accrued <br />interest from date of issue to date of bond delivery will be considered. <br />Oral auction bids will not be received. The right to waive any <br />informality and the right to reject any and all bids are reserved. <br />Dated April 129 1965 <br />BY ORDER OF THE VILLAGE COUNCIL <br />FRANK MIXA <br />Village Administrator <br />P. 0. address: Crystal Bay, <br />Idim-iesota <br />3. Each and all of the terms and provisions of the fore— <br />going form of notice are hereby adopted as 'the terms and conditions <br />of said bonds and of the sale thereof. <br />Adopted at a regular meeting of the Village Council of the Village <br />of Orono April 12, 1965. <br />H. R. Ross, Mayor <br />t <br />Attest:. �-� <br />Frank llti±a, e <br />0 <br />i <br />J <br />