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1990-03-02 Minutes
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1990-03-02 Minutes
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ANTICIPATED SALE <br />DATE: Tuesday, March 27, 1990, Noon, Eastern Standard Time. <br />• Place of Sale: Office of the South Bend Redevelopment Authority <br />1200 County-City Building <br />South Bend, Indiana 46601 <br />NOTICE BY BIDDERS <br />OF INTENT TO BID: On or before 5:00 P.M. (EST), March 20,1990. <br />Interested bidders must furnish in writing to the Authority c/o <br />Mr. Richard Treptow, Springsted Incorporated, 135. North <br />Pennsylvania Street, Suite 2015, Indianapolis, Indiana 46204- <br />2498, telephone (317) 684-6000, facsimile {317) 684-6004, the <br />bidder's name, address, telephone number and (optional) telex <br />(facsimile) number. Bidders will be notified at least 24 hours prior <br />to the date and time of the sale. <br />Type of Bid: A sealed bid for not less than $4,809,337 and accrued interest on <br />the total principal amount of the Bonds shall be filed with the <br />:Secretary-Treasurer of the Authority prior to the .time set for <br />opening bids. (Bid Forms are included as part of the Official <br />Statement.) Each bid must be accompanied by a certified or <br />cashier's check in the amount of $48,950 made payable to 'The <br />South Bend Redevelopment Authority." No conditional bid will be <br />considered. <br />Bidders for the Bonds shall be required to name the rate or rates <br />of interest which the Bonds are to bear, not exceeding 8.5% per <br />annum. Interest rates must be in ascending order. <br />• Basis of Award: The Secretary-Treasurer of the Authority shall award the Bonds to <br />the bidder offering the lowest net interest cost to the Authority, to <br />be determined by computing the total interest on all of the Bonds <br />from the date thereof to their maturities and deducting therefrom <br />the premium bid, if any, or adding thereto the amount of the <br />discount, if any. Interest will be computed on the basis of a 360- <br />day year of twelve, 30-day months and will be rounded pursuant <br />to the rules of the MSRB. The Secretary-Treasurer shall have full <br />right to reject any and all bids. In the event no acceptable bid is <br />received at the sale, then the sale may be continued from day-to- <br />day for a period not to exceed 30 days without re-advertising. <br />Settlement Date: The Bonds will be delivered within 45 days following the date of <br />the award. At the time of delivery, the approving opinion of Baker <br />& Daniels, bond counsel, of Indianapolis, Indiana, will be <br />furnished to the successful bidder. <br />Official Statement: The Issuer has authorized the preparation of this Official <br />Statement containing pertinent information relative to the Bonds, <br />and said Official Statement will serve as an Official Statement <br />"deemed final" as of the date of the Official Statement by the <br />Issuer as required by -Rule 15c2-12 of the Securities and <br />Exchange Commission. For copies of the Official Statement or for <br />any additional information prior to sale, any prospective <br />purchaser is referred to the Financial Advisor to the Issuer, <br />• Springsted Incorporated, 135 North Pennsylvania Street, Suite <br />2015, Indianapolis, Indiana 46204-2498, (317) 684-6000. <br />
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