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Thc City will i c. scrvc the right to: (i) waive non-substantive informalities of any bid or of matters
<br />relating to it~c rcccil)t of bids and awm'd of the Bonds, (ii) reject all bids without cause, and, (iii)
<br />reject any bit! ',.vhi'.~h the City determines to have failed to comply with the terms herein.
<br />
<br />REGISTRAR
<br />
<br />The City ,<',,ill ~;u ~n; thc registrar which st~all be subject to applicable SEC regulations. The City
<br />will pay ft>r tt~ st;['vices off the registrar.
<br />
<br />CUSIP NUMBERS
<br />
<br />If the Bom~.~ quaiily for assignment of CUSIP numbers, such numbers will be printed on the
<br />Bonds, bbl: ~k;ii he; the failure to print such numbers on any Bond nor any error with respect thereto
<br />will cCmslilu.,t~ c'mise for failure or refusal by the purchaser to accept delivery of the Bonds. The
<br />CIJSII' $crvir:t It re'eau charge for the assignment of CUSIP identification numbers shall be paid
<br />
<br />SETTLEMENT
<br />
<br />Within ,'if> day~, l'oilowing the date of their award, the Bonds will be delivered without cost to the
<br />purchasc, r al t~ pl'~c,e nmtually satisfactory to the City and the purchaser. Delivery will be subject to
<br />receipt by Ibc. l~t, rchaser of an approving legal opinion of Holmes & Graven, Chartered of
<br />Minneapoli.~;, M in~c,~;ota, which opinion will be printed on the Bonds, and of customary closing
<br />papers, inclt[¢thq,, ~ noditigation certificate. On the date of settlement, payment for the Bonds shall
<br />be made in F,.xicr;d, or equivalent, funds which shall be received at the offices of the City or its
<br />designee ~)i ~atc r d~an 12:00 noon, Central Time. Except as compliance with the terms of payment
<br />for the Ik, mls shail have been made impossible by action of the City, or its agents, the purchaser
<br />shall bc rial,lc t,~ ~he City for any loss suffered by the City by reasons of the purchaser's non-
<br />compliance ,vith ~,'~ti(t terms for payment.
<br />
<br />OFFICIAL STATEMENT
<br />
<br />Underwriters ~my obtain a copy of the Official Statement by request to the City's Financial
<br />Advisor lvt'i{~' ~ Itte bid opening. The purchaser will be provided with 25 copies of the Official
<br />Statemcut.
<br />
<br /> 3) ?h,'-tt the Administrator is authorized and directed to advertise the Bonds for sale in
<br />accorda ne~z w i~lt tl',c foregoing Official Terms of Offering and to publish the abbreviated notice of
<br />sale attached l~c?ct(~ as Exhibit A in the manner required by law. The City Council will meet at 7:30
<br />p.m. on q't!,;.,;day? November 28, 1989 to consider bids on the Bonds and take any other
<br />apl)ropriatc r,cti,.)n wilh respect to the Bonds.
<br />
<br />The motior~ f, n- th, adoption of! the foregoing resolution was duly seconded by Councilmember
<br />Del2~ca and ;~!)(,~ vote being taken thereon, the following voted in favor thereof:
<br />
<br />an¢t lt~e Foli[(),~vi,~.~L v<)ted against thc same:
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