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PROMPT AWARD: The City Council will take action <br />awarding the bonds or rejecting all bids not later than 36 <br />hours after the expiration of time herein prescribed for the <br />receipt of bids; provided that the award may be made after <br />the expiration of the specified time if the bidder shall not <br />have given to the City a notice in writing of the withdrawal <br />of such bid. <br /> <br /> DELIVERY OF SECURITIES: Delivery of said bonds shall <br />be made to the successful bidder at the office of the City <br />Treasurer, City Hall, Santa Ana, California (or any other <br />mutually agreeable location). Payment shall be made in <br />cash, Federal Reserve Bank funds, or other funds immediately <br />available to the City. It is expected that the bonds will <br />be ready for delivery to the successful bidder on or about <br />November 15, 1981. <br /> <br /> RIGHT OF CANCELLATION: The successful bidder shall <br />have the right, at his' option, to cancel the contract of <br />purchase if the City shall fail to execute the bonds and <br />tender the same for delivery within sixty (60) days from the <br />date of sale thereof, and in such event the successful <br />bidder shall be entitled to the return of the deposit <br />accompanying his bid. <br /> <br /> NO LITIGATION CERTIFICATE: The City will furnish to <br />the purchase of the bonds a no-litigation certificate, <br />certifying that there is no controversy or litigation <br />pending concerning the validity of the bonds or the levy and <br />collection of the assessments securing the same, or the <br />existence of the Assessment District, or of the City, or of <br />the title of the officers thereof to their respective <br />offices. <br /> <br /> OFFICIAL STATEMENT: The City has prepared an Official <br />Statement, a copy of which will be furnished upon request <br />made to the City or to Stone & Youngberg Municipal Financing <br />Consultants, Inc., One California Street, San Francisco, <br />California 94111, the City's financing consultant. <br /> <br /> Two hundred (200) copies of said Official Statement <br />will be made available to the successful bidder without <br />charge. <br /> <br /> APPROVED by the City Council of the City of Santa Ana, <br />California, this 21$tday of September, 1981. <br /> <br />City Clerk of <br />the City of Santa Ana <br /> <br />-6- <br /> <br /> <br />