SUMMARY NOTICE OF BOND SALE $18,754,224 COUNTY OF HERKIMER, NEW YORK PUBLIC IMPROVEMENT (SERIAL) BONDS, 2018 (Book Entry Only) (Callable)
Proposals will be received and considered by the undersigned County Treasurer of the County of Herkimer, New York, via Fiscal Advisors Auction electronic bids submission website (“Fiscal Advisors Auction”) accessible at www.FiscalAdvisorsAuction.com or by facsimile transmission at (315) 930-2354, until 11:00 A.M., Prevailing Time, on the 8th day of November, 2018, at which time and place bids will be opened, for the purchase IN FEDERAL FUNDS at not less than par and accrued interest of $18,754,224 Public Improvement (Serial) Bonds, 2018, of said County, dated November 20, 2018, with interest thereon payable on May 15, 2019 and semiannually thereafter on November 15 and May 15, and maturing November 15 as follows:
Year 2019 2020 2021 2022 2023
Amount* $1,169,224 1,205,000 1,245,000 1,280,000 1,320,000
Year 2024 2025 2026 2027 2028
Amount* $1,355,000 1,400,000 1,440,000 1,485,000 ** 1,530,000 **
Year 2029 2030 2031 2032
Amount* $1,580,000 ** 1,630,000 ** 1,685,000 ** 430,000 **
* Subject to adjustment by the County to accomplish level debt. ** Callable maturities.
THE COUNTY RESERVES THE RIGHT TO CHANGE THE TIME AND/OR DATE FOR THE OPENING OF BIDS. NOTICE OF ANY SUCH CHANGE SHALL BE PROVIDED NOT LESS THAN ONE HOUR PRIOR TO THE TIME SET FORTH ABOVE FOR THE OPENING OF BIDS BY MEANS OF A SUPPLEMENTAL NOTICE OF BOND SALE TO BE TRANSMITTED OVER THE TM3.
Each bid, accompanied by a $375,084 good faith deposit by certified or cashier’s check or wire transfer in the amount of $375,084 as more fully described in the Notice of Bond Sale, must be for all of said $18,754,224 bonds. The award will be made based upon net interest cost. The purchaser will be furnished, without cost, the approving legal opinion as to the validity of the bonds of Orrick, Herrington & Sutcliffe LLP, New York, New York, Bond Counsel. Bidders must refer to the complete Notice of Bond Sale for the terms and conditions of the sale. To obtain copies of the complete Notice of Bond Sale, Bid Form, and the Official Statement of the County, please contact Fiscal Advisors & Marketing, Inc., telephone: (315-752-0051), telecopier: (315-752-0057). Additional Official Statements may be downloaded from Fiscal Advisors & Marketing, Inc.’s Internet address: http://www.fiscaladvisors.com and http://www.fiscaladvisorsauction.com