RES 88422 - Laserfiche WebLink

NOTICE INVITING BIDS FOR PURCHASE OF IMPROVEMENT BONDS CITY OF PLEASANTON, ALAMEDA COUNTY, CALIFORNIA ASSESSMENT DISTRICT NO. 1986-9, NORTH PLEASANTON IMPROVEMENT DISTRICT NO. 3 NOTICE IS HEREBY GIVEN that sealed proposals will be received at the law offices of Sturgis, Ness, Brunsell & Sperry, 2000 Powell Street, Suite 1690, Emeryville, California 94608, bond counsel, before 11 A.M. on Tuesday, October 4, 1988, for the purchase of $23,931,728.99 principal amount of serial improvement bonds of the City of Pleasanton, California, to be issued under the provisions of the Improvement Bond Act of 1915 of the State of California. These bonds are the second in a series of parity bond issues secured by special assessments levied on land within Assessment District No. 1986-9, North Pleasanton Improvement District No. 3, pursuant to the Municipal Improvement Act of 1913 of the State of California. Proceeds of these issues are being used to pay the cost of street and highway construction within the Improvement District. The bonds will be dated October 18, 1988, and will be delivered in registered form on or about that date. A portion of the bonds will mature on September 2 of each year, beginning in 1990 and ending in 2014. Reference is made to the Preliminary Official Statement adopted by the City Council on September 6, 1988, for the maturity schedule, security for the bonds, opinion of bond counsel as to bond validity and tax exemption, and other details of the bonds and the project. Copies of the Preliminary Official Statement may be obtained from Stone & Youngberg, One California Street, San Francisco, CA 94111, as financial consultant to the City of Pleasanton. The financial consultant has been authorized by the City Council of the City of Pleasanton to submit a bid for the bonds on its own behalf. Each bidder must specify an interest rate, not to exceed twelve per cent (12%) and in multiples of one-twentieth of one per cent (.05%), for each year of maturity. Only one interest rate may be specified for each maturity. No bid will be accepted for less than all of the bonds or for less than 98% of the par value of the bonds together with accrued interest from October 18, 1988, to the date of delivery. The successful bidder will be required to furnish to the City the price at which a substantial number of bonds of each maturity will be sold to the public for purposes of calculating the yield applicable to the arbitrage requirements under federal law and regulations. Each bid must be accompanied by bid security in the form of a certified or cashier's check drawn on a bank or trust company doing business in the State of California, payable to the City of Pleasanton, in the amount of ONE HUNDRED THOUSAND DOLLARS ($100,000.00). The City of Pleasanton reserves the right to reject all bids. The bonds, if awarded, will be awarded within forty-eight (48) hours