1990-03-07 Minutes - Laserfiche WebLink

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