The vendor is required to provide comprehensive debt financing for a principal amount to not to exceed $3,200,000 for bank-qualified, fixed-rate, tax-exempt funding.
- It is making the debt for its account, does not intend to syndicate it, and will take no action to cause the debt to be characterized by law as a security, and will not treat the debt as municipal security for purposes of the securities law;
- It is not acting as a broker and is funding the debt from its own capital for its own account, and not with a present view to a resale or other distribution to the public.
- The debt will not be used in the future on a securitized transaction or being treated as a municipal security.
- It understands that the debt is evidenced by a note, the note is issued in a single denomination equal to the aggregate principal amount of the debt, may not be transferred except in whole, will not be transferred to any kind of trust under any circumstances.
- It has in its possession, or has had access to, all material information concerning the security and sources of payment of the debt, and, as a result thereof, is thoroughly familiar with the nature and risks of an investment in the debt.
- It has been afforded access to all material information and has had sufficient opportunity to discuss the business of the city and the projects financed with the proceeds of the debt, with its officers, employees, and others, and has been permitted to make an investigation of the city and its operations.
- It does not require any further information or data concerning the city.
- It has knowledge and experience in financial and business matters, particularly in tax-exempt, obligations, is capable of evaluating the merits and risks of its investment in the note, and has determined that it can bear the economic risk of its investment in the note.
- The financial institution shall also be required to execute such additional certifications or acknowledgments as are customary on similarly structured municipal finance transactions in state.
- Contract Period/Term: 8 years
- Questions/Inquires Deadline: April 16, 2025