Res65 4809 - Laserfiche WebLink

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P fl 4 PROMPT AWARD: The Council will take action awarding the bonds of each issue or rejecting all bids therefor not later than 24 hours after the expiration of the time herein prescribed for the receipt of proposals, unless such time of award is waived by the success- ful bidder therefor. Prompt notice of the awards will be given to the successful bidders. PROMPT Delivery of each issue of the bonds will be DELIVERY: made to the successful bidder therefor at the office of the Treasurer of the City, in Redwood City, California, as soon as the bonds can be pre- pared, which it is estimated will be within 45 days from the date of sale thereof, but not prior to the date of the bonds. Payment of the purchase price for each issue must be made in bank funds immediately available to the Treasurer of the City in Redwood City, California. RIGHT OF The successful bidder for each issue shall CANCELLATION: have the right, at his option, to cancel the contract of purchase if the Council shall fail to execute the bonds and tender the same for de- livery within sixty (60) days from the date of sale thereof, and in such event such successful bidder shall be entitled to the return of the deposit accompanying his bid. FORM OF Bids may be for all of the bonds or for BID: all of the Drainage Bonds, Water Bonds or Sewer Bonds or any combination thereof, and for not less than the par value of the bonds bid for and accrued interest thereon to date of delivery. Each bid to- gether with bidder's check or checks, must be enclosed in a sealed envelope addressed to the City Council of the City of Redwood City, Redwood City, California, and endorsed as follows: If for the Drainage Bonds only, "Proposal for Redwood City General Improvement District No. 1 -65 1966 Drainage System Bonds "; If for the Water Bonds only, "Proposal for Redwood City General Improvement District No. 2 -65 1966 Water Bonds "; If for the Sewer Bonds only, "Proposal for Redwood City General Improvement District No. 3 -65 1966 Sewer Bonds "; and If for any combination of the above, "Proposal for (indicate issues for which bid is made) ". BID CHECKS: With each bid must be submitted a separate certified check or cashier's check for each issue bid for drawn on a bank or trust compa- ny transacting business in the State of California, payable to the order of the Treasurer of the City of Redwood City to secure the District or Districts from any loss resulting from the fail- ure of the bidder to comply with the terms of his bid. Said check or checks must be in amounts as follows: Drainage Bonds $50,000 Water Bonds $10,000 Sewer Bonds $10,000 -19-