Resolution 541 - Laserfiche WebLink

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. ~. ~ ' ~. " both without expense to the purchaser. At the option of the purchaser, a copy of the approving opinion will be reproduced on the printed bonds. 'rhe bonds will be delivered t.O t.he pLlr~ chaser within forty days from the date of sale at the office designated by the purchaser any place within the continental United states at the expense of the Village, accompanied by unqualified approving legal opinions and customary final delivery papers, including certificates showing absence of litigation respecting the Bonds, incumbency of officers and jurisdict.ion of the Village to levy and collect the special assessments, taxes and water and sewer charges pledged to the Bonds. All bids must in writing, enclosed in a sealed envelope, suitably marked as a bid for bonds, be unconditional except as to the above opinion, specify one or more rates of interest within the limitations prescribed below, and be delivered or mailed for delivery and received prior to the time of meeting, accompanied by a certified check, bank draft or cashier!s check in the amount of at least $35,000, payable to the order of the Village, to be forfeited as liquidated damages in event the bid is accepted and the bidder fails to comply the~with. Bids shall be submitted for both issues; separate bids for the respective issues will not be considered, and the award of sale will be made on the basis of the lowest net interest cost (total interest from date of issue to stated maturities, less any premium offered) for the bonds of both issues in the aggregate. Split rate bids may be submitted but bids shall state one rate of interest from the date of issue to maturity for all bonds of either issue having a common maturity date. Not more than five such rates may be specified, and the maturities may not be split more than five ways to designate such rates. Any bid may also provide that all or some of the bonds shall bear a single additional interest rate represented by extra coupons for any portion of the term of the bonds, but the aggregate amount of such additional interest of either issue may not exceed 1 1/2% of the principal amount of that issue. The basic rate for any maturity shall not be lower than the basic rate for any prior maturity. The basic rate and the additional rate for each bond must be in a multiple of one-fourth or one-tenth of 1% per annum, and no rate or combination of basic rate and additional rate may exceed 6% per annmTI. Bidders are asked but not required to state total and rate of average annual net interest cost. No oral auction bids will be received, and no bids for less than par and accrued interest will be considered. The right to waive any informality and to respect any and all bids are reserved. The motion for the adootion of the foregoing resolution was duly seconded by Councilman Jeffers and upon vote being taken thereon the fo} lowi \lq vet,,'; " fa"Ol thereof: Anderson, Jeffor, Hoen ono Hesser . and the following voted against the same; Heme whereupon said resolution was declared duly passed and adopted. .