CC 10-12-1970 - Laserfiche WebLink

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---.--- . . Sealed bids may be mailed or delivered to the undersigned . Village Clerk Administrator and must be received before the time of the meeting. oral auction bids will not be considered. Each bid must be unconditional except as to legality and absence of litigation, and must be accompanied by a cashier's or certified check or bank draft in the amount of $24,000, payable to the Village Treasurer, to be retained by the Village as liquidated damages if the bid is accepted and the bidder fails to comply therewith. Each bond must bear interest at a single uniform rate from date of issue until paid, expressed in a multiple of five hundredths (5/100) of 1% per annum, not exceeding the rate specified for any other bond having the same or a subsequent maturity, and not exceeding 7% per annum. Interest on each bond to maturity will be represented by a single set of coupons. The bid offering the lowest net interest cost will be deemed the most favorable. Interest cost will be computed as the dollar sum of all interest payable on the bonds to their stated maturities, less any cash premium over par or plus any discount below par at which the purchase price is bid. No bid of less than $1,180,000 plus accrued interest on $1,200,DOO at the coupon rates specified to the date of delivery will be considered. The right is reserved to reject any and all bids and to waive any informality in any bid, and to adjourn the sale if deemed necessary. Dated October 12, 1970. BY ORDER OF THE VILIAGE COUNCIL Lorraine Stromquist Village Clerk Administrator Arden Hills, Minnesota .