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<br />CONDITIONS OF THE SALE
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<br />Type of Bids ... IDtenst Raw
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<br />The Bood, will be told in one block OIl an . AU oe None. ba,i" and at a price of DOt leu than !heir par value plua accrued inlerellt to the dale
<br />of cklivery of \he Bond" Bidden are invited to GUIle !he tlte(.) of interellt to be borne hy !he Bond., provided that eacll tile bid mullt be ill
<br />a multiple of 1/8 of 1" or lno of 1" and 1be Del effective imcrellt tile mullt DOt exceed IS", The lliJbut tile bid IDlY DOt exceed the Ioweat
<br />tile bid by more than 3" in tile, No limitation i. impoIed upon bidden.. to the DUmber of nle' or cbanaea which IDlY be uled. All Bond.
<br />of ODe !DIturity mullt bear one and !he ..me tile. No hid. involvina IUpplementaJ inlereat tile, will be coDlidered. Each bidd<< lbaD ole in
<br />!he bid !he total inlerelt colt in dollan and \he effective intcrellt tile detcnnincd \hereby (calculated in the manner preecn'bed by Artkk 717k.-l,
<br />V ATCS), which Iban be conlidered informative only and DOt a. a part of the bid.
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<br />BasisforAwanl
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<br />Por!he purpoae of awardina the eaJc of the Bondi, the intcrellt COlt of each bid will be computed by detcrmimn" at the tile or tltClIlpecified
<br />therein, !he total donar colt of aU interellt OIl the Bond, from lhe Bond Dale to lheir retpeetive maturitiCl, u'm, \he table of Bond Y can herein,
<br />and deductina lherefrom \he premium bid, if any (the .Net IutcrCIt COlt Calculatioo"). Subject to lhe City', ript to reject any oe aD bidlaad
<br />to waive any irTeauJaritica except time of fiIinc, 1hc Boada will be awarded to \he bidder or ayndicate aCCOUJlt manaler whoae GUIle tint appean
<br />OIl the Official Bid Porm (1be .Purehaaer") whole bid, baeed OIllhc Net Interelt Colt Calculation, produca lhe Iowcal net effective interellt colt
<br />to \he City.
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<br />Good Faith 0ep0lIit
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<br />A Good Paith Deposit, payable to the .City of San MareCM, TeDl., in lhe alIlOUlll of $57,900.00, i, required. Such Good Pailh Ocpotit IbaD
<br />be in the form of a Calbier', Check, or ita equivalem. which it to be retained uncalbed by lhe City pendm, \he Purebaaer', compliance with
<br />\he lerma of the bid and Ihe Notice of Sale and Bidding InItnaCtioDl. The Good Fai!h Dcpoait may accompany the Official Bid Form oe it may
<br />be IUbmittcd llepantely. I( aubmiucd aepatllely, it lbaD be mack available to lhe City prior to the openina of the bida, and IbaD be accompanied
<br />by inlItructioDl from !he bank on which dnwn which authorize ill uae .. a Good Fai1h Dcpoait by \he Purehaaer who lbaD be named in IUCh
<br />inlItruCtioDl. 11ae Good Faith Deposit 01 the hrchaser will be retumed to the Purchaser: .poa payaent for the BoBds. No intcrelt will
<br />be allowed on the Good Fai!h DepoRt. In the event the Purebaaer ahould fail or refuae to tate up and pay for the Bondi in accordance with
<br />the bid, then laid check Iba1I be calbed and accc:pted by the City as full and complete liquidated damaiCl. The checb accompanyina bida other
<br />IbIn the winnina bid will be returned immediately after lhe bidl are opened, aad an award of the Booda baa been mack.
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<br />DELIVERY OF THE BONDS AND ACCOMPANYING DOCUMENTS
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<br />CUSIP Numben
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<br />It ia anticipated that CUSIP identification numben will appear 011 the Bonds, but nei!her lhe failure to prinl oe type IUch DUmber on any Boad
<br />DOr any error wi!h relpect lhereto shaD COIIItitule caUIC for a failure oe refu..1 by lhe Purebaaer to accept delivery of and pay foe the Boada in
<br />accordance with the lenna of !hi. Notice of Sale and Biddu., InlItnJCtiODl and the terms of \he Official Bid Form. AU expenacs in relation to
<br />the Printina or typm, of CUSIP numben OIl lhe Bond. ahall be paid by the City; provided, however, 1bat the CUSIP Servke Bureau chafJe
<br />for !he IIsignment oflhe oomben IbaD be lhe rcapoDlibility of and IhaII be paid for by 1be Purebaaer.
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<br />Iaitial Delivery of Initial Bond
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<br />Initial Delivery will be accomplialled by the iauance of one or more Initial Bonds (allIO caU~ .Bondsj, eilher in typed or printed form, in the
<br />aggregale principal all10WJt of $2,895,000, payable in lIlated inlIlaJlmenta to the Purebaaer, signed by the Mayor and City Secretary, approved
<br />by !he Attomey Genenl, and reJiltcred and manually signed by lhe ComptroUcr of Public ACCOUDtI. laitial Delivery will be at lhe principal
<br />office oflhc Payina AjcDllRcgiatrar. Paymeml foe the BondslllUlt be made in immediately available fimda for uncooditional credit to the City,
<br />or II otherwise directed by lhe City. '!be Purchaaer wiD be given six buaihe. days' notice of lhe time fixed for delivery of the Bondi. It it
<br />anticipated that Initial Delivery of the Initial Bond{s) can be !DIck OIl or about May 26, 1992, and it it undcntood and agreed that the PurebalC1'
<br />wiIIacccpt delivery and mate paymem for the Bonds by 10:00 AM, CDT, on May 26, 1992, or thereafter on the dale the Boad it lendered for
<br />delivery, up to and includiuJ June I, 1992. If foe any rcaIOIl the City it uDlble to mate delivery OIl or before June I, 1992, the City abaII
<br />immediately CODlaCt the Purehucr and offer to allow the Pun:ballllr to exrend ita otTer filr an additionallhirty days. If 1be Purehuer does DOt
<br />elect to extend ita off<< within Ax day. thereafter, then ita Good Failh De:poait wiD be returned, and boda lhe City and the PurcbaIC1' abaII be
<br />tdieved of any fut1hcr obliption. In DO eveDllball the City be liable for any llamap by rcaIOIl of ba Wlure to deliver thc BoaIk, plV'lided
<br />IUC:h failure is due to circumataDcca beyond 1be City's reuooabIe ccuroI.
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<br />Delivery 01 De6aitin .....
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<br />Upon payment for lhe Booda at the time of the Initial Dclivery, the PayiraJ AjelJllRcptru abaD cancel1be Initial Bond, provicfecl reJiatratioa
<br />iOItruct.iODl have been received by lhe PayiraJ AjeotlRcptru, and abaJJ regiltcr and deliver tile reJiatcrcd definitive Boada, ia my iDlepal
<br />muhiplo of $5,000 for any ODe maturity, ia accordance wi1h iaatnlctiooa received from tho Pun:balCl' anclJor memben of the PurebalC1'"
<br />syndicate accoulll. It Iba1I be 1be duty of the Purchaaerto ftJrniah to 1be Paym, Aaen&lhgiatrar, at 1euc five buIine. day. prior 10 thc 1DitW
<br />Delivery, written inatructiooa duilDltina tho names in which 1be Bonda are to be registered, thc addreaea of the nprod OWIICI'I, die
<br />maturities, intel'elC ntel and deuominatiooa. The Paying A,eDllRe,uuv wiD DOt be n:quircd to .cccpt nJiatratioa inabuctioolaftu tho fiftla
<br />buainc. day prior to Initial Delivery. I( such written inItnJctioaI are DOt received within the IpOCified time period. thc canceUatioa of 1ho IIIitia1
<br />Bond(s) and delivery of regiatered ckfinitive BondI may be cJe1aycd uIIliIlUcb iDItnJctiooa 1ft received.
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<br />CoaditioaI to Delvery
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<br />The obliption 01 the PurcIwer to tab up and pay for the Boada is IUbjcct to !he Purcbuer's recdpt of (a) 1be lop! opinioo of ~ Boyle
<br />Broob & Piaber, A Prof'caaiooaI CoIporatioa, Auatia and DalIu, Texas, Bond CouDJIlI for the City ("Bond eou-I"), (b) the ao-Iitipioa
<br />certificate. and (c) the ccrtiticatioa II to 1he Official Statcmelll, aD u ftJrtbcr delcribed ill thc Official SWateme...
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