10B Action 2009 1221 - Laserfiche WebLink

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the interest rate specified in the bid, payable semiannually as set forth above; (c) interest with respect to all Bonds maturing at any one time shall be payable at the same rate of interest; and (d) no bid will be accepted which contemplates the waiver of any interest or other concession by the bidder as a substitute for payment in full of the purchase price. BEST BID: The Bonds will be awarded to the best responsible bidder therefor, considering the interest rate or rates specified and the premium offered, if any, or discount taken, if any, and the best bid will be determined on the basis of the lowest true interest cost. The true interest cost will be that nominal annual discount rate which, when discounted semiannually and when used to discount all payments of principal and interest with respect to the Bonds at the rate or rates specified in the bid to the dated date of the Bonds results in the amount equal to the purchase price, which is the principal amount of the Bonds plus the amount of any premium, less the amount of any discount. In the event two or more bids setting forth identical interest rates are received, the Agency reserves the right to allow their authorized representatives to exercise their own discretion and judgment in making the award and may award the Bonds on a pro rata basis in such denominations as he or she shall determine. ADJUSTMENT OF PRINCIPAL AMOUNTS: The Agency reserves the right to increase or to decrease the principal amount of any maturity of the Bonds as the Agency deems advisable, based on the actual rates of interest to be borne by the Bonds. Any such increase or decrease shall be allocated among the various maturities of the Bonds on such basis as the Agency deems advisable, and shall result in a proportionate increase or decrease (as the case may be) in the amount of any premium or discount bid. The aggregate increase or decrease of maturities of the Bonds shall not exceed ten percent (10%) of the principal amount of the Bonds hereby offered for sale. Notice of such increase or decrease shall be given to the successful bidder as soon as practicable following the notification of award, as described below. No such adjustment will have the effect to altering the basis upon which the best bid is determined. RIGHT OF CANCELLATION OF SALE BY THE AGENCY: The Agency reserves the right, in their sole discretion, at any time to cancel the sale of the Bonds. In such event, the Agency shall cause notice of cancellation of this invitation for bids and the public sale of the Bonds to be communicated through Thompson Municipal News as promptly as practicable. However, no failure to publish such notice or any defect or omission therein shall affect the cancellation of the public sale of the Bonds. RIGHT TO MODIFY OR AMEND: The Agency reserves the right, in their sole discretion, to modify or amend this Official Notice of Sale including, but not limited to, the right to adjust and change the principal amount and principal amortization schedule of the Bonds being offered, however, such modifications or amendments shall be made not later than 1:00 P.M., California time, on the business day prior to the bid opening and communicated through Thompson Municipal News. RIGHT OF POSTPONEMENT BY THE AGENCY: The Agency reserves the right, in their sole discretion, to postpone, from time to time, the date established for the receipt of bids. Any such postponement will be communicated through Thompson Municipal News not later than 5:00 P.M., California time, on the business day prior to any announced date for receipt of bids. If any date is postponed, any alternative sale date will be announced via Thompson Municipal News at least 24 hours prior to such alternative sale date. On any such alternative sale date, any bidder may submit a bid for the purchase of the Bonds in conformity in all respects with the provisions of this Official Notice of Sale, except for the date of sale and except for the changes announced by Thompson Municipal News at the time the sale date and time are announced. 4