performance of his bid, but in the event the successful bidder shall fail to comply with the terms of his bid, the check may then be cashed and the proceeds thereof retained as and for full liquidated damages. It is anticipated that CUSIP identification numbers will be printed on the bonds, but neither the failure to print such numbers on any bond nor any error with respect thereto shall constitute cause for a failure or refusal by the purchasers thereof to accept delivery of or pay for the bonds in accordance with the terms of their bid. All expenses in relation to the printing of CUSIP numbers on said bonds and the CUSIP Service Bureau charge for the assignment of said numbers shall be paid for by the City of Fayetteville. The unqualified approving opinion of Brown, Wood, Ivey, Mitchell & Petty, New York City, will be furnished without cost to the purchaser. There will also be furnished the usual closing papers. The right to reject all bids is reserved. LOCAL GOVERNMENT COMMISSION Raleigh, North Carolina By: H. E. Boyles Secretary of the Commission BID FOR BONDS 1976 Local Government Commission Albemarle Building, 325 N. Salisbury Street Raleigh, North Carolina 27611 Sirs: Subject to the provisions and in accordance with the terms of the annexed Notice of Sale, which are hereby made a part of this bid, we make the following bid for the $10,000,000 Electric Bonds, Series A, of the City of Fayetteville, North Carolina, described in said Notice of Sale, this bid being for not less than all of said bonds: For the $10,000,000 Electric Bonds, Series A, maturing and bearing interest as follows: we will pay $10,000,000 plus a premium of ($_ We will also pay accrued interest from the date of the bonds to the date of delivery and will accept delivery of the bonds at in in accordance with said Notice of Sale. We enclose herewith a check for $200,000, as required by said Notice of Sale, payable unconditionally to the order of the State Treasurer of North Carolina, which check is to be returned to us if this bid is not accepted, but otherwise is to be applied in accordance with said Notice of Sale. The closing papers referred to in said Notice of Sale are to include a certificate, dated as of the day of the delivery of the bonds, stating that there is no litigation pending or, to the knowledge of the signers of such certificate, threatened affecting the validity of the bonds. (No addition or alteration, except as provided above, is to be made to this bid, and it must not be detached from the annexed Notice of Sale. Bidder may for infor mation only and neither required nor to be construed as a part of the foregoing bid, enter his calculation of net interest cost to be 1972-73 $2,500,000 Sanitary Sewer, 11.56 yrs. av. mat., 4.6552% int. cost. Note 1: Bond Anticipation Notes included in Outstanding Debt at 6/30/1973 $100,000. Note 2: Outstanding Debt does not include $142,000 Parking Facility Revenue Bonds, dated 6/1/1967 which are payable solely from net revenues of the facility. *Percentage of appraisal value as set by County officials for fiscal year 1973-74; for fiscal years 1974-75 and 1975-76, Ratio has been established by Statute. Revaluation of real property was made by County officials and became effective with the 1972 tax levy. +Valuation of railroads, telephone companies and other utilities as determined by the State Board of Assessment. OVERLAPPING UNIT HAVING OUTSTANDING DEBT: CUMBERLAND COUNTY – 1975-76 Assessed Valuation $1,694,903,100; Rate $1.06 per $100; Outstanding Debt at 12/31/1975 $24,270,000; Population 1970 U. S. Census 212,042; Bonds Authorized and Unissued $9,900,000 ($3,500M Technical Institute, $5,600M County Courthouse and $800M School). Offering of $9,900,000 bonds is scheduled for sale on 2/24/1976. |