Laserfiche WebLink
<br />such series of the Bonds (not taking into account any original issue discount or any bond <br /> <br />insurance premium). <br /> <br /> <br />If the City Representative determines that it is in the best interest of the City to sell any of <br /> <br /> <br />the Bonds in a competitive sale, then the City Representative is authorized and directed to accept <br /> <br /> <br />a qualifying bid or qualifying bids for the purchase of the Bonds which results in the lowest true <br /> <br /> <br />interest cost to the City, and the Bonds shall bear interest, payable semi-annually, at such rate or <br /> <br /> <br />rates and shall be sold at such price or prices as may be set forth in the bides) accepted by the <br /> <br /> <br />City Representative. <br /> <br /> <br />If the City Representative determines that it is in the best interest of the City to sell any of <br /> <br /> <br />the Bonds in a negotiated sale, then the City Representative is hereby authorized to enter into a <br /> <br /> <br />bond purchase agreement or bond purchase agreements with an underwriter or group of <br /> <br /> <br />underwriters with demonstrated experience in underwriting municipal securities to be selected by <br /> <br /> <br />the City Representative. <br /> <br />The City Representative is authorized and directed to approve such optional or mandatory <br /> <br />redemption provisions for the Bonds as the City Representative may determine to be in the best <br /> <br />interest of the City. <br />Notwithstanding anything to the contrary herein, by 5:00 p.m. on the date prior to the sale <br /> <br />date of any Bonds identified in the official notice of sale for the Bonds, if either no underwriter <br /> <br />or only one underwriter has advised of its intention to bid on any series of the Bonds, the City <br /> <br />Representative, after consultation with the City's financial advisor and the City's bond counsel, is <br /> <br />authorized to remove such Bonds from the bidding process and to pursue a negotiated sale for <br />psuch Bonds. <br /> <br />-3- <br />