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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Last modified
5/15/2009 1:50:10 PM
Creation date
11/21/2008 3:58:33 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/28/2000
Ord-Res Number
9095-00
Bill Number
23-00
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NOTICE: The Signature to this assignment <br />must correspond with the name as it appears <br />on the face of the within bond in every <br />particular, without alteration or enlargement <br />or any change whatsoever. <br />Signature Guaranteed: <br />NOTICE: Signature(s) must be guaranteed <br />by an eligible guarantor institution participating <br />in a Securities Transfer Association recognized <br />signature guarantee program. <br />SECTION 10. Sale of Bonds. <br />(a)(i) Except as provided in Section 10(a)(ii), the 2000 Bonds shall be sold in a <br />competitive sale. The Fiscal Officer shall cause to be published either (A) a notice of sale once each <br />week for two consecutive weeks in accordance with I.C.§5-3-1-2, in which case the date fixed for <br />the sale shall not be earlier than fifteen (15) days after the first of such publications and not earlier <br />than three (3) days after the second of such publications, or (B) a notice of intent to sell bonds once <br />each week for two weeks in accordance with I.C. §5-1-11-2 and I.C. §5-3-1-4 and in a newspaper <br />of general circulation published in the State capital, in which case bids may not be received more <br />than ninety (90) days after the first of such publications. Said sale notice shall state the time and <br />place of sale, the purpose for which the 2000 Bonds are being issued, the total amount thereof, the <br />amount and date of each maturity, the maximum rate or rates of interest thereon, their <br />denominations, the time and place of payment, the terms and conditions upon which bids will be <br />received and the sale made and such other information as is required by law or as the Fiscal Officer <br />shall deem necessary. The Fiscal Officer is designated as the officer responsible for the sale of the <br />2000 Bonds, and shall provide or cause to be provided all notices required by law. <br />All bids for the 2000 Bonds shall be sealed and shall be presented to the Fiscal <br />Officer in accord with the terms set forth in the sale notice. Bidders for the 2000 Bonds shall be <br />required to name the rate or rates of interest which the 2000 Bonds are to bear, which shall be the <br />same for a112000 Bonds maturing on the same date and the interest rate bid on any maturity of 2000 <br />Bonds must be no less than the interest rate bid on any and all prior maturities, not exceeding eight <br />percent (8%) per annum, and such interest rate or rates shall be in multiples of one hundredth of one <br />percent. The Fiscal Officer shall award the 2000 Bonds to the bidder who offers the lowest interest <br />cost, to be determined by computing the total interest on all the 2000 Bonds to their maturities and <br />deducting therefrom the premium bid, if any, or adding thereto the amount of the discount, if any. <br />No bid for less than ninety-nine percent (99%) of the par value of the 2000 Bonds, plus accrued <br />interest, shall be considered. The Fiscal Officer may require that all bids be accompanied by <br />certified or cashier's checks payable to the order of the City, or a surety bond, in an amount not to <br />-16- <br />
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