1992 - 06-10-92 Regular Meeting - Laserfiche WebLink

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14 It is anticipated that CUS entification numbers will be printed on th onds, 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 successful bidder thereof to accept delivery of or pay for the bonds in accordance with the terms of his 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 County The approvinglegal opinion of LeBoeuf, Lamb, Leiby & MacRae, New York City and Raleigh, North Carolina will be furnished without cost to the purchaser, The Official Statement relating to the bonds con- tains a discussion of the provisions of the Internal Revenue Code of 1986, as amended (the "Code"), with respect to the exclusion from Federal income taxation of the interest on the bonds and a description of the opinion of LeBoeuf, Lamb, Leiby, & MacRae with respect thereto. The County has covenanted to comply with the requirements of the Code to the extent required to preserve the exclusion of interest on the bonds from the gross income of the holders thereof for purposes of Federal income taxation. There will also be furnished the usual closing papers. The bonds will be delivered on or about July 7, 1992, against payment therefor in FEDERAL RESERVE FUNDS, at DTC. The bonds are not "qualified tax-exempt obligations" within the meaning of section 265(b) (3) of the Code. The successful bidder will be required to furnish prior to the delivery of the bonds a certificate substan- tially in the form attached to the Notice of Sale and Bid Form relating to the bonds and acceptable to Bond Counsel as to the "issue price" of the bonds within the meaning of section 1273 of the Code. The right to reject all bids is reserved. Copies of the Official Statement and the Notice of Sale and Bid Form relating to the bonds may be obtained from the Local Government Commission, Albemarle Building, 325 North Salisbury Street, Raleigh, North Carolina 27603-1388. The Official Statement is deemed to be a final official statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission except for the omission of certain pric- ing and other information to be made available to the successful bidder by the Local Government Commis- sion in a supplement to the Official Statement (the "Supplement' The Official Statement together with the Supplement will constitute the "Final Official Statement." The Supplement will be in the form of a wrap-around for the Official Statement but will not be physically attached to the Official Statement. By the submission of a bid for the bonds, the successful bidder contracts for the receipt of Five Hundred (500) copies of the Official Statement and the Supplement which will be delivered by the Commission to the suc- cessful bidder by June 25, 1992. In order to complete the Supplement the successful bidder must furnish on behalf of the underwriters of the bonds the following information to the Commission by facsimile transmis- sion (919/733-9586) or overnight delivery received by the Commission within 24 hours after the receipt of bids for the bonds: a. Initial Offering Prices (expressed as a price, exclusive of accrued interest, or yield per maturity). b. Selling Compensation (aggregate total anticipated compensation to the underwriters expressed in dollars). c. The identity of the underwriters if the successful bidder is a part of a group or syndicate. d. Any other material information necessary for the Final Official Statement but not known to the County or the Commission (such as the bidder's purchase of credit enhancement). LOCAL GOVERNMENT COMMISSION Raleigh, North Carolina By: Robert M. High Secretary of the Commission 1/f