1977 Resolutions - Laserfiche WebLink

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good faith on the part of the bidder. No interest will be paid by the City on said good faith deposit. Good faith checks of unsuccessful bidders Will be pr~pt!y returned to the representa- tives thereof. The good faith ~heck of the successful bidder will be deposited by the City and the proceeds thereof credited against the purchase price due for the Bo~ds upon their .delivery or retained as and for liquidated damages in the event the success- ful bidder fails to take up and pay for the Bonds in accordance with its bid. The Bonds will be printed at the expense o~ the City. De- livery of tile Bonds, properly executed, and tlne usual closing papers, including a certificate that no litigation is pending affecting the validity of the Bonds, will be made to the success- ful bidder in New York, New York, on November 10, 1977, or as soon thereafter as the Bonds may be prepared. Payment of the balance of the purchase price, including of any premi~ offered, must be made in Federal funds. It is anticipated that CUSIP identification n~bers ~ill be p~inted on the Bonds, but neither the failure to print any such number on any Bond nor any error or omission with respect there- to shall constitute cause for failure or refusal by the success- ful bidder for the Bonds to accept delivery of and pay for the Bonds in.accordance with the terms of its prop~osat. No CUSIP identification number shall constitute or be deemed to be a part of any Bond or a part of the contrac~ evidenced thereby and no liability shall attach to the City or any of its officers or agents because of or on account of any such nuu?~er or any use made thereof. All expenses in relation to the printing of CUSIP identification nu~ers on the Bonds shall be paid for by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers Shall be the responsibility of and shall be paid by the successful bidder for the Bonds. The respective opinion of ~essrs. Wood Dawson Love & O'Brien approving the validity of each issue of Bonds will be furnished the successful bidder for the Bonds. Each such opinion will state that the respective Bonds constitute valid and legally binding ob- ligations of the City and that the City has power an~ is obligated to tevy ad valorem taxes for the payment of such Bonds and the interest thereon upon ail property within the City, subject to taxation by the City, without limitation of rate or amount, it being understood that the rights of the holders of such Bonds and -12-