Laserfiche WebLink
1/8 of 1%. Ral~'s must be in ascending order. Bonds of the same maturity shall bear a single <br />rate from the tlate of the Bonds to the date of maturity. No conditional proposals will be <br /> <br />AWARD <br /> <br />The Bonds will <br />interest cost (' <br />accordance wit <br /> <br />The City will n <br />matters relati~ <br />without cause, <br />with the terms <br /> <br />be awarded on the basis of the lowest interest rate to be determined on a true <br />,'lC) basis. The Cib/s computation of the interest rate of each proposal, in <br /> customary practice, will be controlling. <br /> <br />serve the dght to: (i) waive non-substantive informalities of any proposal or of <br />I to the receipt of proposals and award of the Bonds, (ii) reject all proposals <br />and. (iiO reject any proposal which the City determines to have failed to comply <br />~ereln. <br /> <br />BOND INSURANCE AT PURCHASER'S OPTION <br /> <br />If the Bonds <br />therefor at the <br />issuance of <br />the Bonds. <br />[nsuranoe shall <br />rating on the E <br />agency fees sh <br /> <br />Jarrfy for issuance of any policy of municipal bond Insurance or commitment <br />option of the underwriter, the purchase of any such insurance policy or the <br />' such commitment shall be at the sole option and expense of the purchaser of <br />,y Increased costs of issuance of the Bonds resulting from such purchase of <br />be paid by the purchaser, except that, if the City has requested and received a <br />=ntis from a rating agency, the City will pay that rating fee. Any other rating <br />Il! be the responsibility of the purchaser. <br /> <br />Failure of the .~. unicipal bond insurer to issue the policy after Bonds have been awarded to the <br />purchaser shall~not constitute cause for fa~ure or refusal by the purchaser to accept delivery on <br />the Bonds. <br /> <br />CUSIP NUMBERS <br /> <br />If the Bonds q~allfy for assignment of CUSIP numbers such numbers will be pdnted on the <br />Bonds, but neitjher the failure to print such numbers on any Bond nor any error with respect <br />thereto will codstitute cause for failure or refusal by the purchaser to accept delivery of the <br />Bonds. The ClJ)$1P Service Bureau charge for the assignment of CUSIP identification numbers <br />shall be paid b~the purchaser. <br /> <br />SETTLEMENT <br /> <br />The Bonds will~ delivered without cost to the purchaser at a place mutually satisfactory to the <br />City and the pu[rchaser on or about March 30, 1995. Delivery will be subject to receipt by the <br />purchaser of arn approving legal opinion of Holmes & Graven, Chartered of Minneapolis, <br />Minnesota. andtof oustomary dosing papers, including a no-litigation certificate. On the date of <br />seffiement payment for the Bonds shall be made in federal, or equivalent, funds which shall be <br />received at Ihe! offices of the City or its designee not later than 12:00 Noon. Central Time. <br />Except as compliance with the terms of payment for the Bonds shall have been made <br />imposslbJe by arction of the City, or its agents, the purchaser shall be Jiable to the City for any <br />loss suffered b~, the City by reason of the purchaser's non-compliance with said terms for <br />payment. <br /> <br />OFFICIAL STATEMENT <br /> <br />The City has ~authorized the preparation of an Official Statement containing pertinent <br />Information rela~ve to the Bonds, and said Official Statement will serve-as a nearly-final Official <br />Statement withih the meaning of Rule 15c2-12 of the Securities and Exchange Commission. <br />For copies of .~he Official Statement or for any additional information prior to sale, any <br /> <br /> <br />