No. 0084 authorizing issuance, sale, delivery from preliminary loan notes, execution of requisition agreements, execution of project temp. loan notes for delivery pursuant to requisition agreements IND R-29

Home Browse Search

The aggregate principal amount of the respective series of Notes shall equal the said estimate of loan funds required by the Local Public Agency, exclusive of said estimated interest., for the period from and including the date of such Notes to their maturity: Proms ded�, That, for convenience o.f financing, in determining the principal amount of the respective series of Notes said estimate shall be rounded upward to the next multiple of $1,0100. The Notes of the respective series of Rotes shall be numbered from 1 upward in orderly sequence. SECTI N 4. ADVERTISING OF NOTES Upon receipt of the advice of or on behalf of the Regional. Administrator of the Housing and Home Finance Agency, indicating that the Government.anticipates approving a payment to the Local Public Agency of funds on account of the Project Temporary Loan under the requisitio Ede' cribed -in Section 3 hereof and a Requisition Agreement herein- after dese d, the Authorized officer shall advertise a series a Notes, in the princi amount determined under said Section 3, for sale in accordance with the p ies, terms, and conditions of sale specified in the form of Notice of of Preliminary Loan Notes attached hereto as "Exhibit B ", with the b spaces therein completed as required by this Resolution and the facts surrounding each series of Notes: Provided, That the date specified for the receipt of sealed proposals shall be mutually satisfactory to the Authorized Officer and the Government, but in no event earlier than the seventh day folio g the publication of the Notice of Sale nor later than the sixteenth day .following such publication; Provided further, That the hour fixed for the public opening of bids shall be one o� clock P.M• awful time in the City of New York, New York. Said Notice of Sale shall be published once in The Daily Bond Buyer, a finanei newspaper of national circulation published in the City and State of New York. The Authorized officer is hereby empowered to join with other local public bodies in offering Preliminary Loan Notes for sale under a consolidated Notice of Sale to be published in The Daily Bond Buyer pursuant to which the Local Public cy and other local public bodies jointly advertise their respective. series of Preliminary Loan Notes for sale pursuant to the policies, terms, and conditione substantially as provided by Exhibit B hereto. Said Notice of Sale shall be jublished on a date mutually satisfactory to the Authorized officer and the Government, and under a predetermined financing schedule designed to provide to the local Public Agency funds to assure the orderly financing or refinancing of the Project for the financing period determined pursuant to section 3,hereof. The form of Proposal (Form No. E- 3088 - (8 -58)) attached hereto and marked "Exhibit ", including the policies, terms, and conditions thereof, is hereby adapted the form of proposal which shall be required of bidders pursuant to the Notic of Sale: Provided, That the Authorized officer may consent to a request de by a successful bidder prior to the delivery of Notes to designate a paying gent, if qualified under the terms of the Notice of Sale, other than the payin agent named in the proposal, and., also', may consent to changes in the denominat ons of Notes as specified in the proposal. SECT N �. &WARD OF NOTES. The Authorized Officer is hereby appointed as the awLrding official on behalf of the Local Public Agency, and is hereby authorized and directed on each date specified in a Notice of Sale of a series of Notes, and at the time and place specified in such Notice of Sale, to receive, open, and review all proposals received for the.purebase of the series of Notes. Proposals including telegraphic proposals or instructions as to.the completion of propos ls, received after one o' clock P.M.a the hour (New York time) specified in the No ice of Sale, shall not be opened but rather shall be returned by the -3-