1998-01-21 Resolution 117 - Laserfiche WebLink

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• summary thereof may be published in Credit h~arkets, a financial journal published in the City and State of New York and/or in other newspapers, in the discretion of the Secretary. The notice must state that any person interested in submitting a bid for the Bonds may furnish in writing at the address set forth in the notice, the person's name, address, and telephone number, and that any such person may also furnish a telex or facsimile number. The notice must also state: - (1) the amount of the Bonds to be offered; (2) the denominations; (3) the dates of maturity; (4) the maximum rate or rates of interest; (5) the place of sale; and (6) the time within which the name, address and telephone number must be furnished, which must not be less than seven days after the last publication of the notice. Each person so registered shall be notified of the final principal maturity schedule and of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by telephone at the number furnished by the person, and also. • by telex or facsimile if the person furnishes a telex or facsimile number. All bids for Bonds shall be sealed and shall be presented to the Secretary-Treasurer at the principal office of the Authority, and the Secretary-Treasurer shall continue to receive all bids offered until the hour fixed for the sale of the Bonds, at which time and place he shall open and consider each bid. Bidders for the Bonds shall be required to name the rate or rates of interest which the Bonds are to bear, not exceeding the maximum rate set forth herein. The interest rate on Bonds of a given maturity must be at least as great as the interest rate on Bonds of any earlier maturity. Bids specifying more than one interest rate shall also specify the amount and maturities of the Bonds bearing each rate, and all Bonds maturing on the same date shall bear the same single rate of interest. Such rate or rates of interest shall be in multiples ofone-eighth (1/8) or one-twentieth (1/20) of one percent (1%). Subject to the provisions contained below, the Secretary-Treasurer shall award the Bonds to the bidder offering the lowest net. • :ODMA\PCDOCS\SBDOCS ] \5980\ 1 -5-