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1990-03-07 Minutes
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1990-03-07 Minutes
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7/24/2008 12:56:09 PM
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person may .also furnish. a telex number. The ..notice must also state: <br />(1) the amount of the Bonds to be offered;. (2) the denominations; (3) <br />the dates of maturity;' (4) the maximum rate of rates of interest;. (5) <br />the place of sale; and (6) the time within which the name, address <br />and telephone number must be furnished, which must not be less than <br />seven days after the last publication of the notice. Each person so <br />registered shall be notified of the date and time bids will be <br />received not less than twenty-four (24) hours before the date and <br />time of sale. The notification shall be made by telephone at the <br />number furnished by the person, and -also by .telex if the person <br />furnishes a telex number. All bids for. Bonds shall be sealed and <br />shall be presented. to the Secretary at the principal office of the <br />Authority, and the Secretary shall continue to receive all bids <br />offered until the hour fixed for the sale of the Bonds, at which time <br />and place he shall open and consider each bid. Bidders for the Bonds <br />shall be required to .name the rate or rates of interest which the <br />Bonds are to bear, not exceeding the maximum rate .set forth herein. <br />The interest rate on Bonds of a given .maturity must be at least as <br />great as the interest rate. on Bonds of any earlier maturity. Bids <br />specifying more than one interest rate shall also specify the amount <br />and maturities of the .Bonds bearing each rate, and all Bonds maturing <br />on the same .date shall .bear the same. single rate of interest. <br />Subject to the provisions contained below,the Secretary shall award <br />the Bonds to the bidder offering the lowest net interest cost to the <br />• <br />• <br />~~ <br />~_~ <br />I I-4 <br />
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