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Boulevard, South Bend, Indiana 46601, (219) 284 -9742, or SPRINGSTED Incorporated, the District's
<br />Financial Advisor, at 251 North Illinois Street, Suite 1510, Indianapolis, Indiana 46204 -1942, (317)
<br />237 -3636 in order to obtain information related to bond guaranty insurance.
<br />AWARD
<br />Cubject to provisions contained herein, the Controller shall award the Bonds to the bidder offering the
<br />lowest interest cost to be determined by computing the total interest on all of the Bonds from the
<br />date thereof to the date of their maturities and deducting therefrom the premium bid, if any or
<br />adding thereto the amount of any discount, if any.
<br />The Controller will reserve the right to: (i) waive non - substantive informalities of any bid or of
<br />matters relating to the receipt of bids and the award of the Bonds, (ii) reject all bids without cause,
<br />and, (iii) reject any bid which he determines to have failed to substantially comply with the terms
<br />herein.
<br />PAYMENT AGENT AND REGISTRAR
<br />The Paying Agent and Registrar shall be Bank One, Indianapolis, National Association, in Indianapolis,
<br />Indiana.
<br />CUSIP NUMBER
<br />If the Bonds qualify for assignment of CUSIP numbers, such numbers will be printed on the Bonds, but
<br />neither the failure to print such numbers on any Bond nor any error with respect thereto will
<br />constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP
<br />Ap%ervice Bureau charge for the assignment of CUSIP identification numbers shall be paid by the
<br />urchaser.
<br />SETTLEMENT
<br />Unless otherwise agreed to by and between the City Controller and the Purchaser, the Bonds will be
<br />delivered without cost to the Purchaser within 40 days following the date of the award, at a place
<br />mutually satisfactory to the City Controller and the Purchaser. The Bonds may be delivered in
<br />temporary form at settlement which Bonds may be exchanged for definitive Bonds without delay. On
<br />the date of settlement, payment for the Bonds shall be made in immediately available funds in lawful
<br />money of the United States of America, which shall be received by the City Controller not later than
<br />1:00 P.M., Eastern Standard Time. Except as compliance with the terms of payment for the Bonds
<br />shall have been made impossible by action of the Commission, the City Controller or their agents, the
<br />Purchaser shall be liable for any loss suffered by the District by reason of the Purchaser's non-
<br />compliance with said terms for payment.
<br />At the time of delivery of the Bonds the approving opinion of Baker and Daniels, bond counsel, of
<br />Indianapolis, Indiana, as to the validity of the Bonds, together with a transcript of Bond proceedings,
<br />the printed Bonds with such legal opinion printed thereon, and closing certificates in the customary
<br />form showing no litigation, will be furnished to the successful bidder at the expense of the District.
<br />In addition, unless bond counsel is able, on the date of delivery, to render an opinion to the effect
<br />Qat, as of such date, under existing law, the interest on the Bonds is excluded from gross income for
<br />deral income tax purposes and all present taxes of the State of Indiana, except the state
<br />inheritance tax, the successful bidder shall have the right to rescind the sale, and in such event the
<br />good faith deposit will be immediately returned. On request of the District the successful bidder
<br />shall furnish to the District simultaneously with or before delivery of the Bonds, a certificate in form
<br />satisfactory to the District as to the initial public offering price of the Bonds.
<br />At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the
<br />City, to the effect that the Official Statement did not as of the date of the Official Statement, and
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