1988-06-17 Resolution 6 - Laserfiche WebLink

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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 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 if the person furnishes a telex number. All bids for. Bonds shall be sealed and shall be presented to the Secretary at the principal office of the Authority, and the Secretary 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 twelve percent (12~) per annum. 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. No total payments due in any 12-month period ending on a bond maturity date shall be in excess of $518,000. 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. Subject to the provisions contained below, the Secretary shall award the Bonds to the bidder offering. the lowest net interest cost to the. Authority, to be determined by computing the total interest on all of the Bonds from the date thereof to their maturities and deducting therefrom the premium bid, if any, or adding thereto the amount of any discount, if any. No bid for less than $4,472,050, including accrued interest at the rate or rates named • -4-