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1990-03-07 Minutes
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1990-03-07 Minutes
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is insured by the Federal Deposit Insurance Corporation and made <br />• payable to "The South Bend Redevelopment Authority," to be held <br />as a guarantee of the good faith of the bidder. In the event the <br />bidder to whom said Bonds are awarded shall fail or refuse to <br />comply with the provisions of the bid and this notice, such check <br />and the proceeds thereof shall become the property of the <br />Authority and shall be taken and considered as liquidated damages <br />of the Authority on account of such failure or refusal. The <br />checks of unsuccessful bidders will be returned immediately <br />following the award of the Bonds. <br />The successful bidder will be required to make payment <br />for the. Bonds in Federal Reserve or other immediately available . <br />funds and accept delivery of the. Bonds within five (5) days after <br />being notified that the Bonds are ready for delivery, at a bank <br />designated by the Authority. Any premium bid and accrued <br />• 'n cash at the time of delivery as a part <br />interest must be paid i <br />of the purchase price for the Bonds. .The Bonds will be ready for <br />delivery within forty-five (45) days after the date on which the. <br />award is made, and if not deliverable within that period, the <br />.successful bidder will be entitled to rescind the sale and the <br />good faith deposit will be returned. Any notice of rescission.. <br />must be in writing. At the request of the Authority., the <br />successful bidder shall furnish to the Authority, before delivery <br />of the Bonds, a certificate in form. satisfactory. to the Authority <br />as to the initial .public offering price of the Bonds. <br />It is anticipated that CUSIP identification numbers will <br />be printed on .the Bonds (at the expense of the Purchaser), but <br />neither the failure to print such numbers on any Bonds nor any. <br />• <br />-viii - <br />
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