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<br />Prolll'Dt Award: The Council of the City of Redwood City will <br />take action awarding the bonds or rejecting all <br />bids not later than 24 hours after the expiration of the time <br />hel'e~<:Jprescribed for the receipt of proposals; provided that <br />the award may be made after the expiration of the specified <br />time if the bidder shall not have given to the Council notice <br />in writing of the withdrawal of such proposal. <br /> <br />Prom~t <br />Delivery: <br /> <br />Delivery of said bonds will be made to the <br />successful bidder at the office of the City <br />Treasurer in Redwood City, California, as soon <br />as practicable, which it is contemplated will be on or about <br />June 15, 1948. <br /> <br />Right of The successful bidder shall have the right, <br />Cancellatioa: at his option, to cancel the contract of <br />purchase if the City shall 1 fail to Dender the <br />bonds for delivery on or before June 30, 1948, and in such event <br />the successful bidder shall be entitled to the return of the <br />deposit accompanying his bid. <br /> <br />Form of Bid: All bids must be unconditional; for not less <br />than all of the 'bonds hereby offered for sale; <br />and for not less than the par value thereof and accrued interest <br />to date of delivery. Such bids, together with bidder's check,. <br />must be enclosed in a sealed envelope addressed to the Council <br />of the City of Redwood City and endorsed Itproposal ,for City <br />of Redwood City 1944 City Plan Bonds, Series B.n <br /> <br />Bid Check: With each bid must be submitted a certified <br />check or cashier's check,for $5,000, drawn <br />ona bank or trust company transacting business in the State of <br />California, payable to the order of the City Treasurer of the <br />City of Redwood City to secure the City fI'om any loss resulting <br />from the failure of the bidder to comply with the terms of his <br />bid. In addition bidders are requested (but not required) to <br />supply an estimate of the total net interest cost to the City <br />on the basis of their respective bids, which shall be considered <br />as informative only and not binding on either the bidder or the <br />City. Checks of the unsuccessful bidders will be returned by <br />mail upon the award of the bonds. No interest will be paid upon <br />the deposit made by any successful bidder. <br /> <br />FINANCIAL STATEMENT <br /> <br />The City has prepared on Official Statement, a copy <br />of which will be furnished to any interested bidder upon request. <br /> <br />There is no controversy or litigation pending or <br />threatened concerning the validity of the above issue, the corpo- <br />rate existence of' the City, or the title of the officers to their <br />respective offices. <br /> <br />Dated: <br /> <br />Mar c h 2 3 ~ <br /> <br />, 1948. <br /> <br />RALPH S. DODGE <br /> <br />City Clerk of the City of Redwood <br />City, State of California. <br /> <br />4 <br />