2004-04-14 WS & CC Meeting - Laserfiche WebLink

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AWARD: RATES: INFORMATION FROM PURCHASER: OFFICIAL STATEMENT CONTINUING DISCLOSURE UNDERTAKING SJB-243201vl CE1SS-21 award of the bonds is adjourned, recessed, or continued to another date without award of the bonds having been made. The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true interest cost (TIC) basis. The Issuer's computation of the interest rate of each proposal, in accordance with customary practice, will be controlling. In the event of a tie, the sale of the Bonds will be awarded by lot. The Issuer will reserve the right to: (i) wsive non-substantive informalities of any proposal or of matters relating to the receipt of proposals and award of the Bonds, (ii) reject all proposals without cause, and (iii) reject any proposal which the Issuer determines to have failed to comply with the tenns herein. All rates must be in integral multiples of I/2Oth or I/8th of 1%. No limitation is placed upon the number of rates which may be used. All bonds of the same maturity must bear a single uniform rate from date of issue to maturity. The successful purchaser will be required to provide, in a timely manner, certain information relating to the initial offering price of the bonds necessary to compute the yield on the bonds pursuant to the provisions of the Internal Revenue Code of 1986, as amended. The Official Statement, when further supplemented by an addendum or addenda specifYing the maturity dates, principal amounts and interest rates of the Bonds, together with any other information required by law, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any underwriter or underwriting syndicate submitting a proposal therefore, the City agrees that, no more than seven business days after the date of such award, it shall provide without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded copies of the Official Statement and the addendum or addenda. The Issuer will covenant in the resolution awarding the sale of the bonds and in sale of the bonds and in a Continuing Disclosure Undertaking to provide, or cause to be provided, annual financial information, including audited financial statements of the Issuer, and notices of certain material events, as required by SEC Rule 15c2- 12.