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City/Notice inv. I ~.0. <br /> <br />shall fail to execute the bonds and tender them for delivery <br />within sixty days from the date of the sale thereof, and <br />in such event the successful bidder shall be entitled to the <br />return of the deposit accompanying his bid. <br /> <br /> Form of Bid: Each bid, together with the bid <br />check, must be in a sealed envelope, addressed to the city <br />with the envelope and bid clearly marked: <br /> <br /> "PROPOSAL FOR CITY OF SANTA ANA 1962 WATER <br /> REVE~UEBONDS, SERIES A." <br /> <br /> Bid Check: A certified or cashier's check on a <br />$10,000 <br />responsible bank or trust company in the amount of~X~ <br /> <br />~~x~ma~s, payable to theorder of the <br />city must accompany each proposal as a guaranty that the <br />bidder, if successful, will accept and pay for said bonds <br />in accordance with the terms of his bid. The proceeds of <br />the check accompanying any accepted proposal shall be applied <br />on the purchase price or, if such proposal is accepted but <br />not performed, unless such failure of performance shall be <br />caused by any act or omission of the city, shall then be <br />retained by the city. The check accompanying each unaccepted <br />proposal will be returned promptly. <br /> <br /> Change in Tax Exempt Status: At any time before <br />the bonds are tendered fo~ delivery, the successful bidder <br />ma2 disaffirm and withdraw the proposal if the interest <br />received by private.holders from bonds of the same type and <br />ch&raoter shall be declared to be taxable income under <br />present federal income tax laws, either by a ruling of the <br /> <br /> <br />