1983-027 - Laserfiche WebLink

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BASIS OF AWARD. No Proposals for less than all of said $5,000,000 Bonds will be considered. Not more than one (1) Proposal from any bidder will be considered. The County reserves the right to determine who is the successful bidder, to reject any or all Proposals, and to waive any irregularity or informality in any Proposal. The Bonds will be awarded to trj Bidder whose Proposal produces the lowest effective interest rate to the County. The lowest effective interest rate will be determined in accordance with the effective interest cost method of calculation ("true interest cost method") by doubling the semiannual rate (compounded semiannually) necessary to discount the debt service payments from the payment dates to the date of the Bonds and the price bid, not including interest accrued to the date of delivery. It is requested that each proposal be accompanied by a statement of the effective interest rate for the Bonds computed as specified in this Notice of Sale, but such statement is not to be con- sidered as a part of the proposal. In the event the bidder specifies municipal bond insurance, the amount of the insurance premium shall be deducted from the price bid in making the above described computation of interest cost for the purposes of comparing bids. Although the cost of municipal bond insurance will be deducted from the price bid for the purposes of computation, it should not be deducted by the bidder from the purchase price as shown on the bid form. In comparing bids, no consideration will be given to accrued interest to be paid by the purchaser at the time of delivery of the Bonds. INTEREST RATE PERMITTED. The Bonds shall bear interest rates expressed in multi- ples of one-eighth (1/8) or one -twentieth (1/20) of one per centum. Only one interest rate may be specified for the Bonds of the same maturity. Only one coupon rate may be attached to each I Bond for each interest payment., A rate of interest based upon the use of split or supplemental interest coupons will not be considered. Lmmmmim The purchase price shall not be below 99% of the par value of the Bonds.