Resolution 1762 - Laserfiche WebLink

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. � � � ` � • books of the Cit on the 15th da of the month recedin , y y p g each interest payment date. The bonds will be transferable only upon the registration books of the City kept by the Registrar. CUSIP NUMBERS: It is anticipated that CUSIP identifica- tion numbers will be printed on the bonds, but neither the failure to print such number on any bond nor any error with respect thereto shall constitute cause for a failure or refusal • by the purchaser thereof• to accept delivery of and pay for said bonds in accordance with the terms of sale. All expenses in � relation to the printing of CUSIP numbers on the bonds shall be paid for by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the purchaser. , DELIVERY: Within 30 days of the date of sale, subject to the approving legal opinion of Faegre & Benson, Minneapolis, Minnesota. Bond printing and legal opinion will be paid by the ' City and delivery will be against payment in immediately avail- ' able funds anywhere in the continental United States without cost • to _ the purchaser. TYPE OF BID: Sealed bids for not less than $882, 439 plus accrued interest on the principal amount of $900 ,000 from • the date of the bonds to the date of delivery must be received by the City Finance Director prior to the time specified above. A certified or ca:�hier's check payable to the order of the City Finance Director in the amount of $18,000 must accompany each bid to be forfeited as liquidated damages if the bidder fails to comply with an accepted bid. Bids should be addressed to , Mr. Thomas Kuehn, City Finance Director, Orono City Hall, P.O. Box 66, Crystal Bay, Minnesota 55323. RATES: All rates must be in integral multiples of 5/100ths of 1$ and no rate may exceed the maximum rate permitted by law. All bonds of the same maturity shall bear a single uniform rate from date of issue to maturity. The intere�t rate for the bonds of any maturity shall not be less than the rate for any prior maturity. AWARD: The bid offering the lowest net interest cost will be deemed most favorable. The net interest cost is to be determined by adding the amount of any discount ($900, 000 less � amount of purchase price) to, or subtracting the amount of any premium (excess of purchase price over $900, 000) from, the total interest from the date of the bonds to stated maturities. The net average interest rate for the issue may not exceed the maximum rate permitted by law. • � . - -4-