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The Bonds will be delivered to DTC without charge to the successful <br /> bidder. The successful bidder must be prepared to make payment for the Bonds in <br /> Federal Reserve funds of the United States of America. <br /> <br /> Before making tender of the Bonds through DTC, the Issuer Shall give <br />written notice to the successful bidder, no later than the fifth business day <br />before the proposed tender, of the fact that the Bonds, transcript, no-litigation <br />certificate and approving opinion will be available for delivery, and giving the <br />date and hour for such delivery, provided, however, that nothing herein contained <br />shall prevent the making of a mutually agreeable written .or verbal arrangement <br />for such delivery at a place other than the place fixed for such delivery or at <br />a date and hour Other than the date and hour fixed for such delivery. <br /> <br /> If such notice has not been given by the Issuer or waived by the <br />successful bidder and the Bonds, transcript, no-litigation certificate and <br />approving opinion are not available for delivery to the successful bidder at such <br />place of delivery on or before 12=00 noon, of the 30th calendar day after the day <br />fixed for the receipt of bids and the successful bidder shall not be in default <br />of any of its obligations, it shall have the right thereafter, and so long as no <br />such tender by the Issuer shall yet have been made, to cancel the contract of <br />purchase. Any such right shall be exercised by delivering written notice of such <br />cancellation to the undersigned or to the office of the undersigned during <br />business hours. Such bidder shall thereupon be entitled to the return of the <br />deposit, if any, which accompanied its bid and such bid shall be returned to it <br />immediately. <br /> <br /> The Issuer has prepared a Preliminary Official Statement, dated <br /> , 1991 (the "Preliminary Official Statement-) enclosed herewith, <br />~escribing in greater detail the Bonds, the security for and sources of payment <br />of the Bonds, the Issuer and its financial condition. Prospective bidders may <br />obtain additional copies of the Preliminary Official Statement from the office <br />of the undersigned. <br /> <br /> The Issuer deems the Preliminary Official Statement to be final as <br />of its date within the meaning of paragraph (b)(1) of Section 240.15c2-12 <br />("Rule 15c2-12") of the General Rules.and Regulations, Securities and Exchange <br />Act of 1934. The Issuer will furnish the successful bidder (a) within seven <br />business days of , 1991 not more than 100 final Official Statements <br />relating to the Bonds, as may be requested by the successful bidder, and the <br />successful bidder may obtain at its expense such additional final Official <br />Statements so as to have in aggregate a sufficient quantity' of such final <br />Official Statements to enable it to comply with paragraphs (b)(3) and (b)(4) of <br />Rule 15c2-12 and the rules of the Municipal Securities RUlemaking Board and <br />(b) on the closing date a certificate dated as of the closing date relating to <br />theaccuracy and completeness of such final Official Statement. <br /> <br /> Ail bids shall be made in accordance with and subject to the terms <br />and conditions set forth in this Invitation for Bids. A suggested bid form is <br />attached. <br /> <br />-4- <br /> <br /> <br />