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,,I Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement. The Deposit received from the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser, will be deposited by the City. In the event the purchaser fails to comply with the accepted proposal, said amount will be retained by i the City. No proposal can be withdrawn or amended after the time set for receiving I proposals unless the meeting of the City scheduled for award of the Bonds is adjourned, I recessed, or continued to another date without award of the Bonds having been made. : Rates shall be in integral multiples of 51100 or 1/8 of 1%. Rates must be in level or : ascending order. Bonds of the same maturity shall bear a single rate from the date of the i Bonds to the date of maturity. No conditional proposals will be accepted. AWARD I ! The Bonds will be awarded on the basis of the lowest interest rate to be determined on a I true interest cost (TIC) basis. The City's computation of the interest rate of each i proposal, in accordance with customary practice, will be controlling. ! : The City will reserve the right to; (i) waive non-substantive informalities of any proposal ! or of matters relating to the receipt of proposals and award of the Bonds, (ij) reject all ! proposals without cause, and (iii) reject any proposal that the City determines to have i failed to comply with the terms herein. : i '; ., I] :i .1 If the Bonds qualify for issuance of any policy of municipal bond insurance or Ilcornmitment therefor at the option of the underwriter, the purchase of any such insurance ilpOliCY or the issuance of any such commitment shall be at the sole option and expense of :, the purchaser of the Bonds. Any increased costs of issuance of the Bonds resulting from Ii such purchase of insurance shall be paid by the purchaser, except that, if the City has ilrequested and received a rating on the Bonds from a rating agency, the City will pay that I I! rating fee. Any other rating agency fees shall be the responsibility of the purchaser. BOND INSURANCE AT PURCHASER'S OPTION ,', i: :iFailure of the municipal bond insurer to issue the policy after Bonds have been awarded lito t.he purchaser shall not constitute ,cause for failure or refusal by the purchaser to accept !idehvery on the Bonds. il Ii CUSIPNUMBERS ! Jilf the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on ljthe Bonds, but neither the failure to print such numbers on any Bond nor any error with ljrespect thereto will constitute cause for failure or refusal by the purchaser to accept ::delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP !Iidentification numbers shall be paid by the purchaser. ~ : SlB-Z519Wvl NE136-1'4 !] fJ 11