Ordinance 1924-93 - Laserfiche WebLink

` r federal alternative minimum tax imposed on individuals or corporations, but will be taken into account in the computation of adjusted net book income and adjusted current earnings for purposes of the corporate alternative minimum tax under Section 55 of the Code and in the computation of the environmental tax on corporations under Section 59A of the Code . INTEREST RATE AND BIDDING DETAILS . Bid forms will be provided by the City. Each bid shall be signed and enclosed in a sealed envelope . No bid will be accepted for the purchase of fewer than all of the Bonds . No bid will be accepted with a price of less than 98 . 5% of the principal amount of the Bonds . All bids shall be without condition. Each bid submitted shall provide for the payment of accrued interest to the date of delivery on the Bonds . One or more rates of interest may be fixed for the Bonds, which rate or rates must be in a multiple of 1/8 or 1/20 of 1% . No more than one rate of interest may be fixed for any one maturity, and there may be no more than a 3% difference between the highest interest rate fixed and the lowest interest rate fixed. It is requested that each bid state (i) the total interest cost over the life of the Bonds, and (ii) the true interest cost of the Bonds . Such statement shall not be deemed to be a part of the bid. ISSUE PRICE INFORMATION. Within 48 hours of the award of the Bonds, the successful bidder shall advise the City and Bond Counsel of the initial reoffering prices to the public of each maturity of the Bonds (the "Initial Reoffering Prices" ) . Simultaneously with or before delivery of the Bonds, the successful bidder shall furnish to the City and Bond Counsel a certificate in form and substance acceptable to Bond Counsel (a) confirming the Initial Reoffering Prices, (b) certifying that a bona fide offering of the Bonds has been made to the public (excluding bond houses, brokers, and other intermediaries) , (c) stating the prices at which a substantial amount of each maturity of the Bonds was sold to the public (excluding bond houses, brokers, and other intermediaries) , (d) stating the price at which any Bonds that remain unsold at the date of closing would have been sold on such date, and (e) the offering price of each Bond sold to institutional or other investors at discount . BOND INSURANCE . If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the bidder, any purchase of such insurance or B-3 FW WOOH.DOC 93/01/08