(f) Other Provisions. The Commonwealth Library Bonds may, at the option of the Fiscal Officer, be secured by municipal bond insurance or similar instrument issued by a financial or insurance institution acceptable to the Fiscal Officer.
(g) Place of Payment and Paving Agents. The principal, interest and any redemption premium on registered Commonwealth Library Bonds shall be payable by check or draft, as provided in the Trust Agreement.
(h) Execution. The Commonwealth Library Bonds shall be executed in the manner provided in the General Bond Resolution.
SECTION 5. Award and Sale of Commonwealth Library Bonds. The Commonwealth Library Bonds shall be offered publicly for sale upon the basis of competitive bids at such time as the Fiscal Officer, upon advice of the Financial Advisor to the University, shall designate.
The Fiscal Officer is hereby authorized and directed to cause an appropriate form or forms of a Notice of Sale of Bonds to be published in The Lexington Herald Leader, a legal newspaper published in the City of Lexington, Kentucky, which will afford local notice of the sale, The Courier Journal, a legal newspaper published in the City of Louisville, Kentucky, which will afford statewide notice of the sale, and, to the extent required by law, in The Bond Buyer, a financial journal published in the City of New York, New York, which is a publication having general circulation among bond buyers; and said newspapers and financial journal are hereby declared to be qualified to publish such notice for the Board within the meaning and provisions of Chapter 424 of the Kentucky Revised Statutes. Such notice shall be published in said newspapers and financial journal at least once not less than seven nor more than twenty-one days prior to the scheduled date of sale of the Commonwealth Library Bonds.
The forms of Notice of Bond Sale, Official Terms and Conditions of Sale of Bonds, Bid Form and Official Statement, shall be in such form as approved by Bond Counsel for the University, by the Financial Advisor, by the General Counsel of the University and by the Fiscal Officer.
Bidders shall be advised that the fee of the Financial Advisor for services rendered with respect to the sale of the Commonwealth Library Bonds is contingent upon the issuance and delivery of the Commonwealth Library Bonds, and that the Financial Advisor may submit a bid for the purchase of the Commonwealth Library Bonds at the time of the advertised public sale of the Commonwealth Library Bonds, either individually or as the member of a syndicate organized to submit a bid for the purchase of the Commonwealth Library Bonds.
Upon the date and at the respective hour set forth for the submission and consideration of purchase bids, as provided in the instruments hereinabove approved, bids shall be reviewed as provided in such instruments. If there shall be one or more bids which conform in all respects to the prescribed terms and conditions, such bids shall be compared, and the Fiscal Officer, upon the advice of the Financial Advisor, is authorized to accept the best of such bids, as measured in terms of the lowest interest cost to the Board, as calculated in the manner prescribed in the Official Terms and Conditions of Sale of Bonds. Calculations shall be performed as are necessary to determine the exact amount of Commonwealth Library Bonds that are required to be issued in order to (i) refund the Prior Bonds and (ii) pay the costs of issuing the Commonwealth Library Bonds and the final principal amount, interest rates and maturities of the
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