Res 1988-007 - Laserfiche WebLink

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GENERAL Financial Advisor's Right to Bid. . . First Southwest Company is employed as Financial Advisor to the City in connection with the issuance of the Certificates. The Financial Advisor's fee for services rendered with respect to the sale of the Certificates is contingent upon the issuance and delivery of the Certificates. First Southwest Company may submit a bid for the Certificates, either independently or as a member of a syndicate organized to submit a bid for the Certificates. First Southwest Company, in its capacity as Financial Advisor, has not verified and does not assume any responsibility for the information, covenants and representations contained in any of the bond documentation with respect to the federal income tax status of the Certificates. Blue Sky Laws. . . By submission of his bid, the Purchaser represents that the sale of the Certificates in sta tes other than Texas will be made only pursuant to exemptions from registration or, where necessary, the Purchaser will register the Certificates in accordance with the securities law of the states in which the Certificates are offered or sold. The City agrees to cooperate with the Purchaser, at the Purchaser's written request and expense, in registering the Certificates or obtaining an exemption from registration in any state where such action is necessary except the City shall not be required to consent to service of process in any such jurisdiction. Not an Offer to Sell. . . This Notice of Sale does not alone constitute an offer to sell the Certificates, but is merely notice of the sale of the Certificates. The offer to sell the Certificates is being made by means of the Notice of Sale and Bidding Instructions, the Official Bid Form and the Official Statement. Prospective bidders are urged to carefully examine the Official Statement prior to submitting a bid. Issuance of Additional Bonds. . . The City does not anticipate the issuance of any additional Certificates for the remainder of the year. The City anticipates issuing the unissued balance of its authorized general obligation bonds over the next eighteen months. Ratings. . . The outstanding General Obligation Bonds and Certificates of Obligation of the City are rated "A" by Moody's Investors Service, Inc. and "A" by Standard &: Poor's Corporation. Applications for contract ratings on this issue have been made to both Moody's and Standard &: Poor's. The results of their determinations will be provided as soon,as possible. Municipal Bond Insurance. . . In the event the Certificates are qualified for municipal bond insurance, and the Purchaser desires to purchase such insurance, the cost therefor will be paid by the Purchaser. It will be the duty of the Purchaser to disclose the existence of insurance, its terms and the effect thereof with respect to the Certificate Holders. The Official Statement. . . The City will furnish to the Purchaser, without cost, 50 copies of the Official Statement (and 50 copies of any addenda, supplement or amendment thereto), complete except as to interest rates and other terms relating to the reoffering of the Certificates. The Purchaser may arrange at his own expense to have the Official Statement reproduced and printed if he requires more than 50 copies, and may also arrange, at his total expense and responsibility, for completion and perfection of the first or cover page of the Official Statement so as to reflect interest rates and other terms and. information related to the reoffering of the Certificates. The City assumes no responsibility or obligation for the distribution or delivery of any of these copies to anyone other than the Purchaser. Additional Copies of Notice. Bid Form and Statement. . . A limited number of additional copies of this Notice of Sale and Bidding Instructions, the Official Bid Form and the Official Statement, as available over and above the normal maHing, may be obtained at the offices of First Southwest Company, Investment Bankers. 500 First City Center. 1700 Pacific Avenue. Dallas. Texas 75201, Financial Advisor to the City. The City reserves the right to reject any and all bids and to waive irregularities, except time of filing. On the date of the sale, the City Council will, in the Ordinance authorizing the issuance of the Certificates. confirm its approval of the form and content of the Official Statement. and any addenda, supplement or amendment thereto. and authorize its use in the reoffering of the Certificates by the Purchaser. J. E.YOUNGER Mayor ATTEST: JANIS WOMACK City Secretary January 25, 1988 - iv -