NOTICE OF SALE BOROUGH OF KEANSBURG (Monmouth County, New Jersey) $517,731 BOND ANTICIPATION NOTES, SERIES 2022A (Bank Qualified) (Non-Callable)
Bids are being solicited through a fair and open process in accordance with N.J.S.A. 19:44A-20.5 for the purchase of $517,731 Bond Anticipation Notes, Series 2022A (the “Notes” or the “Securities”) of the Borough of Keansburg, in the County of Monmouth, New Jersey (the “Borough” or the “Issuer”). All bids will be publicly opened and announced by Stephen Reiff of GluckWalrath LLP on behalf of the Borough’s Chief Financial Officer on Tuesday, January 25, 2022, at 11:00 a.m., prevailing local time (“Sale Date”).
No telephone bids will be accepted. Bids must be received by 11:00 a.m. on the Sale Date, and may be submitted by completing the bid form attached hereto as Exhibit A and submitting to the mailing address, email address and/or fax number shown on said bid form. Sealed bids are encouraged, but emailed and/or faxed bids will be accepted provided they comply with the conditions stated herein. If a bidder wishes to transmit its bid by email or fax, such bidder hereby acknowledges that such emailed or faxed bid will not be reviewed by the Borough until the public opening of the bids as aforesaid. This Notice of Sale has been posted on the Borough’s website (www.keansburgnj.gov).
Each bid must offer to purchase the entire Note issue being offered at no less than par plus accrued interest and must specify a single rate of interest per annum offered for the Notes. The Chief Financial Officer will evaluate the bids on the basis of the lowest net interest cost to the Borough. It is expected that the Chief Financial Officer will award the Notes to the bidder proposing the lowest net interest cost. Award of the Notes or rejection of all bids will be made by 2:00 p.m. on the Sale Date. As between bidders specifying the same lowest net interest cost, the Notes will be sold to the bidder selected by lot from among all such bidders. The Borough reserves the right to reject all bids.
PLEASE SEE ATTACHED DOCUMENT LINKED ABOVE FOR FULL DETAILS