Common use of Bona Fide Solicitation for Bids Clause in Contracts

Bona Fide Solicitation for Bids. The Issuer or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (i) The bid specifications are in writing and are timely forwarded to potential providers. (ii) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield or the cost of the Guaranteed Investment Contract. (iii) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (A) that the potential provider did not consult with any other potential provider about its bid, (B) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the Issuer, the Trustee, or any other person (whether or not in connection with the bond issue), and (C) that the bid is not being submitted solely as a courtesy to the Issuer, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (iv) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield of the Guaranteed Investment Contract. (v) The terms of the solicitation take into account the Issuer’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (vi) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (vii) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments being purchased.

Bona Fide Solicitation for Bids. The Issuer City or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (iA) The bid specifications are in writing and are timely forwarded to potential providers. (iiB) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield or the cost of the Guaranteed Investment Contract. (iiiC) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (Ai) that the potential provider did not consult with any other potential provider about its bid, (Bii) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the IssuerCity, the Trustee, or any other person (whether or not in connection with the bond issue), ) and (Ciii) that the bid is not being submitted solely as a courtesy to the IssuerCity, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (ivD) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield of the Guaranteed Investment Contract. (vE) The terms of the solicitation take into account the IssuerCity’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (viF) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (viiG) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments being purchased.

Bona Fide Solicitation for Bids. The Issuer City or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (iA) The bid specifications are in writing and are timely forwarded to potential providers. (iiB) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield or the cost of the Guaranteed Investment Contract. (iiiC) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (Ai) that the potential provider did not consult with any other potential provider about its bid, (Bii) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the IssuerCity, the Trustee, or any other person (whether or not in connection with the bond Certificate issue), and (Ciii) that the bid is not being submitted solely as a courtesy to the IssuerCity, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (ivD) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield of the Guaranteed Investment Contract. (vE) The terms of the solicitation take into account the IssuerCity’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (viF) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (viiG) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments being purchased.

Bona Fide Solicitation for Bids. The Issuer City or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (iA) The bid specifications are in writing and are timely forwarded to potential providers. (iiB) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield or the cost of the Guaranteed Investment Contract. (iiiC) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (Ai) that the potential provider did not consult with any other potential provider about its bid, (Bii) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the IssuerCity, the Trustee, or any other person (whether or not in connection with the bond issuedelivery of obligations), and (Ciii) that the bid is not being submitted solely as a courtesy to the IssuerCity, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (ivD) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield of the Guaranteed Investment Contract. (vE) The terms of the solicitation take into account the IssuerCity’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (viF) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (viiG) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments being purchased.

Bona Fide Solicitation for Bids. The Issuer City or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (iA) The bid specifications are in writing and are timely forwarded to potential providers. (iiB) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield yield or the cost of the Guaranteed Investment Contract. (iiiC) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (Aa) that the potential provider did not consult with any other potential provider about its bid, (Bb) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the IssuerCity, the Developer, the Trustee, or any other person (whether or not in connection with the bond issue), and (Cc) that the bid is not being submitted solely as a courtesy to the IssuerCity, the Developer, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (ivD) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield yield of the Guaranteed Investment Contract. (vE) The terms of the solicitation take into account the IssuerCity’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (viF) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (viiG) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments investments being purchased.

Bona Fide Solicitation for Bids. The Issuer City or the Trustee makes a bona fide solicitation for the Guaranteed Investment Contract, using the following procedures: (iA) The bid specifications are in writing and are timely forwarded to potential providers. (iiB) The bid specifications include all “material” terms of the bid. A term is material if it may directly or indirectly affect the Yield yield or the cost of the Guaranteed Investment Contract. (iiiC) The bid specifications include a statement notifying potential providers that submission of a bid is a representation (Aa) that the potential provider did not consult with any other potential provider about its bid, (Bb) that the bid was determined without regard to any other formal or informal agreement that the potential provider has with the IssuerCity, the Developer, the Trustee, or any other person (whether or not in connection with the bond issue), and (Cc) that the bid is not being submitted solely as a courtesy to the IssuerCity, the Developer, the Trustee, or any other person, for purposes of satisfying the requirements of the Regulations. (ivD) The terms of the bid specifications are “commercially reasonable.” A term is commercially reasonable if there is a legitimate business purpose for the term other than to increase the purchase price or reduce the Yield yield of the Guaranteed Investment Contract. (vE) The terms of the solicitation take into account the IssuerCity’s reasonably expected deposit and draw-down schedule for the amounts to be invested. (viF) All potential providers have an equal opportunity to bid. For example, no potential provider is given the opportunity to review other bids (i.e., a last look) before providing a bid. (viiG) At least three “reasonably competitive providers” are solicited for bids. A reasonably competitive provider is a provider that has an established industry reputation as a competitive provider of the type of Investments being purchased.has