My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1998
>
Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/25/2009 8:45:24 AM
Creation date
6/25/2009 8:45:23 AM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/22/1998
Ord-Res Number
8919-98
Bill Number
51-98
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
31
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Bonds shall be and are hereby set aside for application to the costs of the Project, and including all <br />authorized costs relating thereto, including the costs of issuance of the 1998 Bonds. The authorized <br />officers of the City are hereby authorized and directed to draw all proper and necessary warrants and <br />to do whatever other acts and things that may be necessary or appropriate to carry out the provisions <br />of this Ordinance. <br />One or more series of the 1998 Bonds may, in the discretion of the Controller, be sold <br />by public sale. In the event the 1998 Bonds are sold by public sale, prior to the sale of the 1998 <br />Bonds, the Controller shall cause to be published a notice of intent to sell t•,vo times at least one week <br />apart in the South Bend Tribune and the Tri-County News. The notice of such sale or a summary <br />thereof may also be published in The Bond Buyer, a financial journal published in the City and State <br />of New York and/or in other publications, in the discretion of the Controller. The notice must state <br />that any person interested in submitting a bid for the 1998 Bonds may furnish in writing, at the <br />address set forth in the notice, the person's name, address, and telephone number, and that any such <br />person may also furnish a telex number. The notice must also state: (1) the amount of the 1998 <br />Bonds to be offered; (2) the denominations; (3) the dates of maturity; (4) the maximum rate or rates <br />of interest; (5) the place of sale; and (6) the time within which the name, address and telephone <br />number must be furnished, which time must not be less than seven (7) days after the last publication <br />of the notice. Each person so registered shall be notified of the date and time bids will be received <br />not less than riventy-four (24) hours before the date and time of sale. The notification shall be made <br />by telephone at the number furnished by the person, and also by telex if the person furnishes a telex <br />number. Such notice may also include such other information as the Controller shall deem <br />necessary. Such notice shall also provide, among other things, that each bid shall be accompanied <br />by a certified or cashier's check or financial surety bond in an amount equal to one percent (1%) of <br />the principal amount of the 1998 Bonds to guarantee performance on the part of the bidder, and that <br />in the event the successful bidder shall fail or refuse to accept delivery of and pay for the 1998 Bonds <br />as soon as the 1998 Bonds are ready for delivery, or at the time fixed in the notice of intent to sell, <br />then such check or financial surety bond and the proceeds thereof shall become the property of the <br />City and shall be considered as the City's liquidated damages on account of such default. <br />All bids for 1998 Bonds sold at public sale shall be sealed and shall be presented to <br />the Controller at the Controller's office, and the Controller shall continue to receive all bids offered <br />-13- <br />:ODMA\PCDOCS\SBDOCS 1 \ 1494'T3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.