Hard copy bids will not be accepted. By submitting a bid for the Series 2018 Bonds, such bidder thereby agrees to the following terms and conditions: (i) If any provision in this Official Notice of Sale with respect to the Series 2018 Bonds conflicts with information or terms provided or required by the Qualified Electronic Bid Provider, this Official Notice of Sale, including any amendments issued through the Qualified Electronic Bid Provider and i-Deal Prospectus, shall control. (ii) Each bidder is solely responsible for making necessary arrangements to access the Qualified Electronic Bid Provider for purposes of submitting its bid in a timely manner and in compliance with the requirements of this Official Notice of Sale (including any amendments issued by the University through the Qualified Electronic Bid Provider and i-Deal Prospectus). (iii) The University has no duty or obligation to provide or assure access to the Qualified Electronic Bid Provider to any bidder, and the University shall not be responsible for proper operation of, or have any liability for, any delays, interruptions or damages caused by use or attempted use of the Qualified Electronic Bid Provider or any incomplete, inaccurate or untimely bid submitted by any bidder through the Qualified Electronic Bid Provider. (iv) The University is permitting the use of the Qualified Electronic Bid Provider as a communication mechanism, and not as the University’s agent, to conduct the electronic bidding for the Series 2018 Bonds. The Qualified Electronic Bid Provider is acting as an independent contractor, and is not acting for or on behalf of the University. (v) The University is not responsible for ensuring or verifying bidder compliance with any Qualified Electronic Bid Provider procedures. (vi) If a bid is accepted by the University, this Official Notice of Sale (including any amendments issued by the University through the Qualified Electronic Bid Provider and i-Deal Prospectus) and the information that is submitted electronically through the Qualified Electronic Bid Provider shall form a contract, and the bidder shall be bound by the terms of such contract. (vii) Information provided by the Qualified Electronic Bid Provider to bidders shall form no part of any bid or of any contract between the successful bidder and the University unless that information is included in this Official Notice of Sale (including any amendments issued by the University through the Qualified Electronic Bid Provider and i-Deal Prospectus). Bid Details and Parameters Form of Bids. Bids for the Series 2018 Bonds must be unconditional, and for not less than the entire offering of the Series 2018 Bonds. By submitting a bid, each bidder agrees to all of the terms and conditions of this Official Notice of Sale (including any amendments issued by the University through the Qualified Electronic Bid Provider and i-Deal Prospectus). Bids must be submitted electronically via the Qualified Electronic Bid Provider. Bids may not be withdrawn or revised after the time that bids are due. Interest Rates Bid. Bids may specify any number of interest rates in multiples of one-eighth of one percent (1/8 of 1 percent) or one-hundredth of one percent (1/100 of 1 percent). All Series 2018 Bonds of the same maturity must bear interest at the same rate and no Bond shall bear interest at more than one rate. No rate of interest may exceed 5.0 percent. Premium and Discount. No bid will be considered for a price that is less than [___] percent or more than [___] percent of the par value of the Series 2018 Bonds. Each maturity must be reoffered at a yield that will produce a price of not less than [___] percent of the principal amount for that maturity. For purposes of the preceding sentences, “price” means the price as calculated using the lesser of the yield to the redemption date, if any, or the yield to the maturity date. Good Faith Deposit The successful bidder for the Series 2018 Bonds shall deliver a good faith deposit in the amount of $450,000 to the University. The good faith deposit must be paid by federal funds wire transfer delivered no later than two hours following the successful bidder’s receipt of the verbal award. Wiring instructions will be provided to the successful bidder at the time of the verbal award. The good faith deposit will be retained by the University as security for the performance of the successful bidder and shall be applied to the purchase price of the Series 2018 Bonds upon delivery of the Series 2018 Bonds to the successful bidder. Pending delivery of the Series 2018 Bonds, the good faith deposit may be invested for the sole benefit of the University. If the Series 2018 Bonds are ready for delivery and the successful bidder fails or neglects to complete the purchase within 30 days following acceptance of its bid, the good faith deposit shall be retained by the University as reasonable liquidated damages, and not as a penalty.
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