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<br />" <br /> <br />, ' <br />. <br /> <br />Type of Bid - Amount <br /> <br />Sealed bids must be mailed or delivered to the under- <br />signed and must be received prior to the time specified <br />above for the opening of bids. Each bid must be uncondi- <br />tional and must be accompanied by a cashier's or certified <br />check or bank draft in the amount of $20,000, payable to the <br />City Clerk-Treasurer, to be retained by the City as liqui- <br />dated damages if the bid is accepted and the bidder fails to <br />comply therewi th. The good fai th check of the successful <br />bidder will be retained by the City and deducted from the <br />purchase price at the time of closing on the bonds. The bid <br />authorizing the lowest net interest cost (total interest <br />from date of bonds to stated maturities, less any cash pre- <br />mium or plus any amount less than $1,000,000 bid for prin- <br />cipal) will be deemed the most favorable. No oral bid and <br />no bid of less than $980,700 for principal plus accrued <br />interest on all of the bonds will be considered, and the <br />City reserves the right to reject any and all bids and to <br />waive any informality in any bid. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />/s/ Margaret Egan <br />City Clerk-Treasurer <br /> <br />Dated: June 12, 1984. <br /> <br />- 5 - <br />