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Last modified
10/26/2011 9:09:06 AM
Creation date
10/26/2011 9:09:05 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
10/24/2011
Resolution #
10945
Resolution Date Passed
10/24/2011
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EXHIBIT A <br /> TERMS OF PROPOSAL <br /> THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS <br /> ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: <br /> TERMS OF PROPOSAL <br /> $10,000,000* <br /> CITY OF ROSEVILLE, MINNESOTA <br /> GENERAL OBLIGATION BONDS, SERIES 2011A <br /> (BOOK ENTRY ONLY) <br /> Proposals for the Bonds and the Good Faith Deposit ("Deposit") will be received on Monday, <br /> November 28, 2011, until 10:00 A.M., Central Time, at the offices of Springsted Incorporated, <br /> 380 Jackson Street, Suite 300, Saint Paul, Minnesota, after which time proposals will be opened <br /> and tabulated. Consideration for award of the Bonds will be by the City Council at 6:00 P.M., <br /> Central Time, of the same day. <br /> SUBMISSION OF PROPOSALS <br /> Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the <br /> time of sale specified above. All bidders are advised that each Proposal shall be deemed to <br /> constitute a contract between the bidder and the City to purchase the Bonds regardless of the <br /> manner in which the Proposal is submitted. <br /> (a) Sealed Bidding. Proposals may be submitted in a sealed envelope or by fax <br /> (651) 223-3046 to Springsted. Signed Proposals, without final price or coupons, may be <br /> submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting <br /> to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax <br /> (651) 223-3046 for inclusion in the submitted Proposal. <br /> OR <br /> (b) Electronic Bidding. Notice is hereby given that electronic proposals will be received via <br /> PARITY®. For purposes of the electronic bidding process, the time as maintained by PARITY® <br /> shall constitute the official time with respect to all Bids submitted to PARITY®. Each bidder shall <br /> be solely responsible for making necessary arrangements to access PARITY® for purposes of <br /> submitting its electronic Bid in a timely manner and in compliance with the requirements of the <br /> Terms of Proposal. Neither the City, its agents nor PARITY shall have any duty or obligation to <br /> undertake registration to bid for any prospective bidder or to provide or ensure electronic access <br /> to any qualified prospective bidder, and neither the City, its agents nor PARITY® shall be <br /> responsible for a bidder's failure to register to bid or for any failure in the proper operation of, or <br /> have any liability for any delays or interruptions of or any damages caused by the services of <br /> PARITY`a'. The City is using the services of PARITY® solely as a communication mechanism to <br /> conduct the electronic bidding for the Bonds, and PARITY® is not an agent of the City. <br /> * Preliminary;subject to change. <br /> A-I <br /> 4324910v1 <br />
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