| Issuer |
City of Ocean City |
| State |
New Jersey |
|
Amount |
$13,800,000 |
| Type
Issue/Series |
General Improvement Bonds |
|
Rating |
Standard & Poor's: AA |
| Bank
Qualified |
Yes |
|
Good Faith |
$276,000 wire, surety, or check must be received by the City prior to bidding. |
|
|
Sale Date |
7/28/10 |
|
Dated Date |
8/18/10 |
| Settlement
Date1 |
8/18/10
|
|
Sale Time |
11:00 AM - 11:17 AM Eastern Time |
|
|
Interest Due |
2/15, 8/15 |
| Principal Due |
8/15/11 - 8/15/19 |
| First Interest
Date |
2/15/11 |
| Call Dates |
Non-Callable |
| Term Bonds |
Allowed |
|
Min. Bid Price
|
100.000% |
| Bid Details |
Max. Spread: 2.000%
Multiple: Either 1/8th or 1/20th of 1%
|
| Insurance |
Bidder's Option / Bidder Pays / Not Factored into NIC |
| Other Details |
To the extent that any bid submitted includes an original issue premium, the original issue premium shall not exceed an amount equal to the first three years of accrued interest on the Bonds, calculated from the issue date of the Bonds. |
|
| Bid Format |
All-Or-None |
| Auction Format |
Open |
| Award Basis
|
NIC |
| Two-Minute Rule
|
Yes |
| Bond Counsel |
McManimon & Scotland, L.L.C.
1037 Raymond Boulevard, Suite 400
Newark, New Jersey 07102
Attn: Elizabeth Manuel
Telephone - 973.622.5280
Facsimile - 973.622.7333 |
| Web
Site |
www.MuniAuction.com |
|
|