Notice and Blank Proposal City of Charlotte, North Carolina $8,465,000 Public Improvement Bonds Series 1976 Sealed Bids Will Be Received Until 11 A.M., North Carolina Time, March 30, 1976 69-141 O-76-29 NOTICE OF SALE CITY OF CHARLOTTE, NORTH CAROLINA PUBLIC IMPROVEMENT BONDS, SERIES 1976 Sealed bids will be received until 11 o'clock A. M., North Carolina Time, March 30, 1976, by the undersigned at its office in the City of Raleigh, North Carolina, such bids to be opened at said time and place on said day, for the purchase of $8,465,000 Public Improvement Bonds, Series 1976, of the City of Charlotte, North Carolina, (representing a consolidation of $3,125,000 Street Widening, Extension and Improvement Bonds, $2,500,000 Public Transportation System Bonds, $1,500,000 Sidewalk Bonds, $730,000 Bridge Bonds and $610,000 Street Land Bonds), dated April 1, 1976 and maturing annually, April 1, $365,000 1977, $350,000 1978, $300,000 1979 to 1990, inclusive, $350,000 1991, $400,000 1992, $475,000 1993, $850,000 1994, $1,200,000 1995 and $875,000 1996, without option of prior payment. Denomination $5,000; principal and semi-annual interest (April 1 and October 1) payable in legal tender at North Carolina National Bank, in the City of Charlotte, North Carolina, or, at the option of the holder or registered owner, at Manufacturers Hanover Trust Company, in New York City; general obligations; unlimited tax; coupon bonds registrable as to principal only; delivery on or about April 26, 1976, at place of purchaser's choice. There will be no auction. Bidders are requested to name the interest rate or rates, in multiples of 1/4 or 1/10 of 1%, and each bidder must specify in his bid the amount and the maturities of the bonds of each rate. The difference between the lowest and highest rates named in the bid shall not exceed 2%. No bid may name more than six interest rates, any of which may be repeated. All bonds maturing on the same date must bear interest at the same rate. The interest payable on any bond on any interest payment date shall be represented by a single coupon and the interest rate on such bond shall be the same throughout its life. The bonds will be awarded to the bidder offering to purchase the bonds at the lowest interest cost to the City, such cost to be determined by deducting the amount of any premium bid from the aggregate amount of interest upon all of the bonds from their date until their respective maturities. No bid for less than the face value of the bonds plus accrued interest will be entertained. Each bid must be submitted on a form to be furnished with additional information by the undersigned, must be enclosed in a sealed envelope marked "Bid for Bonds", and must be accompanied by an official bank check, a cashier's check or a certified check upon an incorporated bank or trust company for $169,300, payable unconditionally to the order of the State Treasurer of North Carolina, on which no interest will be allowed. Award or rejection of bids will be made on the date above stated for receipt of bids and the checks of unsuccessful bidders will be returned immediately. The check of the successful bidder will be held uncashed as security for the 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 Charlotte. 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 Official Statement of the Local Government Commission of North Carolina dated March 19, 1976 in relation to City of Charlotte, North Carolina $8,465,000 Public Improvement Bonds, Series 1976 Sale Date: March 30, 1976 This Official Statement will be used by the Commission only in connection with its Public Invitation for Bids for the purchase of the Bonds. Bids Received: 11 A.M., North Carolina Time, March 30, 1976 at the Office of the Local Government Commission, Albemarle Building, 325 North Salisbury Street, Raleigh, North Carolina 27611. |