Laserfiche WebLink
8 <br /> • • desirable. The Chief Financial Officer shall cause notice•of the public sale to be given and <br /> provide for such other matters pertaining to the public sale as she deems necessary or desirable. <br /> Upon the date and time established for the receipt of bids for the Bonds, the Chief <br /> • . Financial. Officer or her designee shall open the bids and. shall cause.the bids to be <br /> mathematically verified. The Bonds shall be sold to the bidder.offering to purchase them at the • <br /> lowest true•interest cost to the. City; provided, however; that the Chief Financial Officer may <br /> reserve the right to reject any and all bids for the Bonds and also.may waive any irregularity or <br /> informality in any bid <br /> •Subject to the terms and.conditions set forth in.-this Section.11, the Chief Financial <br /> Officer is hereby authorized to accept an Approved Bid,.upon her approval of the fmal interest <br /> rates, maturity dates, aggregate principal amounts, principal maturities and redemption rights set <br /> . forth therein in accordance with the authority granted by this section so long as the aggregate • <br /> • . principal amount of the Bonds does not exceed $15,000,000. and the Savings Target is met. <br /> • Following the sale of the Bonds,the Chief Financial Officer shall provide a report to the Council, <br /> describing the final terms of the Bonds approved pursuant, to the authority delegated in this <br /> section. <br /> • • Upon the passage and approval of this ordinance, the .proper officials of the City <br /> including the Chief Financial Officer, are authorized and directed to undertake all action <br /> necessary for theprompt execution and delivery of the Bonds to the successful bidder thereof and <br /> further to- execute all closing certificates and documents required to effect the closing and <br /> delivery of the Bonds. In furtherance of the foregoing,the Chief Financial Officer is authorized <br /> to approve and enter into agreements for the payment. of costs of issuance, including <br /> underwriter's discount, the fees and expenses specified in the Notice of Sale, including fees and <br /> 425 P:120287_CMW120287_9R0 08/14/12 <br />