JUL 1950 TO MAY 1954 - Laserfiche WebLink

2t6 1959 to 1966, both inclusive. $5,000 principal amount of such bonds shall mature and be parable or the 15th d.a of July in each of the years from 1967 to 1971, both irclusive. $6,000 principal amount of such bords shall mature and be payable or the 15th da'r of July ir each of the from 1972 to 1977, both inclusive. $7,000 principal amount of such bonds shall mature and be payable on the 15th da of Jul'r, 1973. Interest Rate: raximum our (4) per certum, per annum, pa-rable semi- annually on January 15th and July 15th in each year. Bidders must specify the rate of interest -hich the bonds hereby offered for sale shall bear. Bidders will be permitted to bid differert rates of irter- est and to split rates irrespective of the maturities of said bords. The interest rate stated ir the bid must be in a multiple of one quarter of one per certum per annum, payable semi- arrually. hEGIS'i'tt.4'i IOI' Coupon bonds will be issued b the Town of Pleasanton. Such bonds are registerable only as to both prircipal and interest. PUhPOSE OF ISSUE: Said bonds are authorized b r vote of t-uo- thirds of the qualified voters votirg at a special municipal bond election for the ack_uisitior, corstruction and. comletior of the follo munici- pal improvemert, to -wit: Improvement of the municipal water s•rstem, includirg a rel. water reservoir, transmission ard distribution lines, pipes, valves, fittings, z;ells, pumps, machinery, apparatus, equipmert, lands, easements, rights of way and other works, property or structures necessary or conveniert for the improvement of the municipal water system of the Torn of Pleasanton. TAX EXLrviP1 SiA'I IS: Ir the evert that prior to the le1ive.r- of the bonds the ircome received by private holders from bonds of the same type and character shall be delared to be taxable under an- 'ederal Ir-.cor_ie Tax laws, either b-r the terms of such laars or b the ruling of a Federal Income Tax authority or official which is followed by the Bureau of Interral Reverue, or b decisior o.'. any Federal Court, the successful bidder ma-r, at his option, prior to the tender of said bords by the Town, be relieved of his obligation under the cortract to p the bonds, ard in such case the deposit accompanying his bid will be returned. SECMIT'Y Said bonds are general obligations bonds of the Town of Pleasarton, and the City Courcil thereof has power and is obligated to levy ad valorem taxes for the payment of the said bords and the interest thereon upon all property within the Town of PIasar..tor., subject to tax- atior by said Torn (except certain intar.gible property, which is tax able at limited rates) without limitation of rate or amount. LEGAL OPIN?ION: The legal opinion of Messrs. Orrick, Dahlquia.t, Yeff, Browr Herrirgor, Of San Francisco, California, appro irg the validity of said bords -i11 be :furr_i.shed to the successful bidder without charge. TERMS OF SALE Highest Bid: The bonds will be awarded to the highwst and best bidder considering the interest rate or rates specified and the premiums offered, if any. The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the Town of Pleasanton would be re- quired to pay from the date of said bonds to the respective maturity dates at the coupon rate or rates specified in the bid, and the award will be made on the basis of the lowest net interest cost to the Town of Pleasanton. The lowest net interest cost shall be computed between the dates aforesaid according to standard bond interest tables. The purchaser must pay accrued interest from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the Town. RIG '-T OF The Town of Pleasanton reserves the right, in its discretion, to reject REJECTION: any and all bids and to waive any irregularity or informality in any bid. PROMPT AWARD: The City Council of the Town of Pleasanton will take action awarding the bonds or rejecting all bids not later than 24 hours after the expiration of the time herein prescribed for the receipt of proposals; provided that the award may be made after the expiration of the specified time if the bidder shall not have given to the City Council notice in writing of the withdrawal of such proposal.