1976 CC Minutes & Resolutions - Laserfiche WebLink

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CUSIP NUlvlBERS If, within three working days after the award of the Obligations, the Purchaser in writing requests that CUSIP identification numbers be printed on the Obligations and agrees to be responsible for the CUSIP Service Bureau charge for the assignment of said numbers, they will be printed on the Obligations, but neither the failure to print. such number on any Obliga tions nor any error wi tll respect thereto shall constitute cause for failure or refusal by the Purchaser to accept delivery of the Obligations. DELIVERY The Obligations shall be delivered w1thin 40 days after the award, subject to the unqualified approving legal opinion of ~1essrs. LeFevere, Lefler, Pearson, O'Brien & Drawz of Minneapolis, Minnesota, and delivery of customary closing papers, i~cluding a statement of non- litigation. Obligations printing and the legal opinion will be paid for by the Issuer. Delivery will be at the place of the purchaser's choice. Payment must be made in Federal, or equivalent, funds, to be inmlediately available on the day of delivery. The legal opinion will be printed on the Obligations. TYPE OF BID Sealed bids for not less than $854,000 and accrued interest on the principal sum of $870,000 from the date of the Obligations to date of delivery must be filed with the undersigned prior to the time of sale, together with a certified or cashier's check in the amount of $8,700 payable to the order of the Clerk-Treasurer of the Issuer, to be retained as liquidated damages if the Bidder fails to comply with the accepted bid. RATES All rates must be in integral multiples of 5/100 of 1/8 .of 1% and may not exceed 7% per annum. All Obligations of the same maturity must bear a single rate from the date of issue to maturity. The rate specified for any maturity may not exceed the rate specified for any subsequent maturity by more than 1% per annum. Additional coupons may not be used. No limitation is placed upon the number of rates which may be specified. The net effective average rate of the Issue may not exceed 7% per annum. AlvARD Award will be made on the basis of the lowest dollar interest cost determined by the addition of any discount to or the deduction of any premimn front the total interest on all Obligations from their date to their stated maturity as computed on the basis of the schedule of bond years in the Official Statement published for the offering. The Issuer reserves the right to reject any and all bids, to waive inforITlali ties and to adjourn the sale. Dated: October 27, 1976. BY ORDER OF TIIF~ CITY COUNCIl, /s/ LuAnn prachar City Clerk~Treasurer Centerville, Minnesota 55038