2.0. ERMUSR 08-29-2018 - Laserfiche WebLink

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CU.IP number within that maturity) has been sold to the public and the price at which it was sold. The Ci will treat such sale price as the "issue price" for such maturity, applied on a maturity-by-maturity bas s. The City will not require the Purchaser to comply with that portion of the Regulation commonly des ribed as the "hold-the-offering-price" requirement for the remaining maturities, but the Purchaser ma elect such option. If the Purchaser exercises such option,the City will apply the initial offering price to tl e public provided in the proposal as the issue price for such maturities. If the Purchaser does not exe cise that option, it shall thereafter promptly provide the City and Springsted the prices at which 10% of .uch maturities are sold to the public; provided such determination shall be made and the City and Spn ngsted notified of such prices whether or not the closing date has occurred, until the 10% test has bee satisfied as to each maturity of the Bonds or until all of the Bonds of a maturity have been sold. GOOD FAITH DEPOSIT To ave its proposal considered for award, the Purchaser is required to submit a good faith deposit to the Ci in the amount of$100,000 (the "Deposit") no later than 1:00 P.M., Central Time on the Sale Date. Th: Deposit may be delivered as described herein in the form of either (i) a certified or cashier's check payable to the City; or (ii) a wire transfer. The Purchaser shall be solely responsible for the timely del very of its Deposit whether by check or wire transfer. Neither the City nor Springsted have any liasility for delays in the receipt of the Deposit. If the Deposit is not received by the specified time, the Ci may, at its sole discretion, reject the proposal of the lowest bidder, direct the second lowest bidder to sub it a Deposit, and thereafter award the sale to such bidder. Ce tified or Cashier's Check. A Deposit made by certified or cashier's check will be considered timely delivered to the City if it is made payable to the City and delivered to Springsted Incorporated, 381 Jackson Street, Suite 300, Saint Paul, Minnesota 55101 by the time specified above. Wi e Transfer. A Deposit made by wire will be considered timely delivered to the City upon submission of. federal wire reference number by the specified time. Wire transfer instructions will be available from Spr ngsted following the receipt and tabulation of proposals. The successful bidder must send an e-mail inc uding the following information: (i)the federal reference number and time released; (ii)the amount of the wire transfer; and(iii)the issue to which it applies. On,e an award has been made, the Deposit received from the Purchaser will be retained by the City and no nterest willaccrueDepositat settlement to the Purchaser. The amount of the will be deducted from the purchase price. In the event the Purchaser fails to comply with the accepted proposal, said amount wil be retained by the City. AWARD Th: Bonds will be awarded on the basis of the lowest interest rate to be determined on a true interest cost (TI ) basis calculated on the proposal prior to any adjustment made by the City or the Commission. The Co mission's computation of the interest rate of each proposal, in accordance with customary practice, wil be controlling. Th: Commission will reserve the right to: (i)waive non-substantive informalities of any proposal or of ma ers relating to the receipt of proposals and award of the Bonds, (ii) reject all proposals without cause, an. (iii)reject any proposal that the Commission determines to have failed to comply with the terms her-in. BOND INSURANCE AT PURCHASER'S OPTION Nether the City nor the Commission have applied for or pre-approved a commitment for any policy of mu icipal bond insurance with respect to the Bonds. If the Bonds qualify for municipal bond insurance an. a bidder desires to purchase a policy, such indication, the maturities to be insured, and the name of the desired insurer must be set forth on the bidder's proposal. The Commission specifically reserves the rig t to reject any bid specifying municipal bond insurance, even though such bid may result in the lowest TI I to the City and the Commission. All costs associated with the issuance and administration of such - iv- 8