Series 52: 3.2.2.1. Soliciting The Bid

 3.2.2.1.  Soliciting the Bid

The issuer will post a Notice of Sale in The Bond Buyer and elsewhere that announces:

• • The amount of the proposed sale
• • The type of bonds being offered
• • The dated date (the date when interest will start accruing on the purchased bonds)
• • The process for submitting bids (including location and time)

The notice will also announce:

• • The structure of the issue
• • The desired form of the bid (whether net interest cost or true interest cost)
• • The status of the legal opinion (whether qualified or unqualified)

If the notice does not specify the time and date of the bid or if conditions should change, a supplementary Notice of Sale will be transmitted over a trade wire service of the municipal bond industry (such as Munifacts) or in a designated financial newspaper. In addition, public notice will be provided to the news media at least 24 hours prior to the opening of bids.

After the announcement has been published, the issuer will mail the preliminary official statement to both potential bidders and potential investors to elicit their interest in the offering. Information meetings will be held with both to encourage interest in the issue and to assess the market.

The issuer will request that potential underwriters submit the