Res 1991-052 - Laserfiche WebLink

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Blue Sky Laws By submission of its bid, the Purchaser represents that the sale of the Bonds in states other than Texas will be made only pursuant to exemptions from registration or, where necessary, the Purchaser will register the Bonds in accordance with the securities law of the states in which the Bonds are offered or sold. The City agrees to cooperate with the Purchaser, at the Purchaser's written request and expense, in registering the Bonds or obtaining an exemption from registration in any state where such action is necessary, provided, however, that the City shall not be obligated to execute a general or special consent to service of process in any such jurisdiction. Not an Offer to Sell This Notice of Sale and Bidding Instructions does not alone constitute an offer to sell the Bonds, but is merely notice of the sale of the Bonds. The offer to sell the Bonds is being made by means of the Notice of Sale and Bidding Instructions, the Official Bid Form and the Official Statement. Prospective purchasers are urged to carefuUy examine the Official Statement to determine the investment quality of the Bonds. Ratings The presently outstanding tax supported debt of the City is rated "A" by Moody's Investors Service, Inc. ("Moody's") and "A" by Standard & Poor's Corporation ("S&:P"). Applications for contract ratings on this issue have been made to both Moody's and S&:P. The results of their determinations will be provided as soon as possible. Municipal Bond Insurance In the event the Bonds are qualified for municipal bond insurance, and the Purchaser desires to purchase such insurance, the cost thereof will be paid by the Purchaser. Any fees to be paid to the rating agencies as a result of said insurance will be paid by the City. It will be the responsibility of the Purchaser to disclose the existence of insurance, its terms and the effect thereof with respect to the reoffering of the Bonds. The Officj¡ú Statement and Compliance with SEC Rule 1.5c2-12 The City has prepared the accompanying Official Statement and, for the limited purpose of complying with SEC Rule l.5c2-12, deems such Official Statement to be final as of its date within the meaning of such Rule for the purpose of review prior to bidding. Representations made and to be made by the City concerning the absence of material misstatements and omissions in the Official Statement are addressed elsewhere in this Notice of Sale and Bidding Instructions and in the Official Statement. The City will furnish to the Purchaser, or Purchasers, acting through a designated senior representative, in accordance with instructions received from the Purchaser(s), within seven (7) business days from the sale date an aggregate of 100 copies of the Official Statement including a like number of copies of a Supplement reflecting interest rates and other terms relating to the initial reoffering of the Bonds. The cost of preparation of the Supplement, or of a reprinted Official Statement, if the Purchaser(s) shall so elect, and the cost of any Official Statement in excess of the number specified shall be prepared and distributed at the cost of the Purchaser(s). The Purchaser(s) shall be responsible for providing in writing the initial reoffering prices and other terms, if any, to the Financial Advisor by the close of the next business day after the award. Except as noted above, the City assumes no responsibility or obligation for the distribution or delivery of any copies of the Official Statement in connection with the offering or reoffering of the subject securities. 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 mailing, may be obtained at the offices of First Southwest Company, Investment Bankers, .500 First City Center. 1700 Pacific Avenue, Dallas, Texas 7.5201, Financial Advisor to the City. The City Council has approved the form and content of the Notice of Sale and Bidding Instructions, the Official Bid Form and Official Statement, and authorized the use thereof in its initial offering of the Bonds. On the date of the sale. the City Council will, in the Ordinance authorizing the issuance of the Bonds, 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 Bonds by the Purchaser. KA THY M. MORRIS Mayor City of San Marcos, Texas ATTEST: JANIS WOMACK City Secretary April 22,1991 -iv-