RES 02047 - Laserfiche WebLink

receipt of bids. For further infonnation about PARITY. potential bidders may contact Bartle Wells Associates at 510.653.3399. All bids must be accompanied by a good faith deposit as described in the "Good Faith Deposit" section herein. Good Faith Deposit: Each bid must be accompanied by a good faith deposit. surety bond (SureBid), a certified check or cashier's check for $25.000 payable to the order of the City of Pleasanton to secure the City from any loss resulting from the failure of the bidder to comply with the tenns of its bid. Checks of the unsuccessful bidders will be returned by the City promptly after the date fixed for the receipt of bids. No interest will be paid on the good faith deposit made by any bidder. The good faith deposit of the successful bidder will. immediately upon acceptance of its bid. becomes the property of the City. and may be cashed by the City. The amount of the good faith deposit will be credited upon the purchase price of the Bonds at the time of delivery thereof. If the purchase price is not paid in full upon tender of the Bonds. the successful bidder shall have no right to the Bonds or to the recovery of its good faith deposit. or to any allowance or credit by reason of such deposit. unless it shall appear that the Bonds would not be validly issued if delivered to the purchaser in the fonn and manner proposed. and in the event of such nonpayment the City reserves any and all rights it may have to recover the agreed purchase price of the Bonds and in addition any ~amages suffered by it. If the Bonds are awarded to a bidder utilizing a financial surety bond. such purchaser is required to submit its deposit to the City in the fonn of a cashier's check not later than 3:30 p.m. Pacific Time on the next business day following the award. Alternatively. if the Bonds are awarded to a bidder utilizing a financial surety bond. such purchaser may submit its deposit to the City by wire transfer. not later than 3 :30 p.m. Pacific Time on the next business day following the award. to the following account of the City: Bank of America ABA: 121000358 Beneficiary: City of Pleasanton Beneficiary Account Number: 02353-80200 Reoffering Prices: The successful bidder will be required to provide the City or its financial advisor by 12 noon Pacific Time. on the date on which bids for the Bonds are received. with infonnation as to the initial offering price of the Bonds to the public (excluding bond houses and brokers) at which a substantial amount of the Bonds were sold. Such information must be confinned with a certificate. dated the date of closing of the Bonds. in fornl and substance satisfactory to bond counsel. showing that at least] 0 percent of each maturity of the Bonds was sold to the public at initial public offering prices not exceeding the prices of the Bonds set forth in the initial statement of such prices. Estimate of True Interest Cost: Bidders are requested (but not required) to supply an estimate of the true interest cost on the basis of their respective bids. which shall be considered as infonnative only and not binding on either the bidder or the City. CUSIP Numbers: lt is anticipated that CUSIP numbers will be printed on the Bonds. but neither the failure to print such number on any Bonds nor any error with respect thereto shall constitute cause for a failure or refusal by the successful bidder to accept delivery of and pay for the Bonds. 5