Notice of sale (Repealed)

The Notes will bear interest at the rate or rates per annum fixed in the proposal or proposals accepted for their purchase, will be issued in such denominations, and both principal and interest thereof will be payable at such bank or trust company, incorporated under the laws of the State of Connecticut or any other state or of the United States, as the purchaser designates in his proposal. The Notes will provide that they are not valid until after such bank or trust company has signed the agreement appearing on each Note to act as paying agent. The Notes will be transmitted to such bank or trust company for delivery to the purchaser upon receipt and disbursement by such bank or trust company of the purchase price thereof in accordance with instructions from the Authority. After taking delivery of the Notes, the purchaser shall obtain the signature of such bank or trust company upon the Notes as aforesaid. All fees or charges, if any, of such bank or trust company shall be paid by the purchaser. All proposals for the purchase of said Notes shall be submitted in a form approved by the Authority. Copies of such form of proposal may be obtained from the Authority at the address indicated above. Proposals may be for all or any part of said Notes, but separate proposals will be required for each part of said Notes for which a separate interest rate is bid. Said Notes will be awarded at the lowest net interest cost to the Authority under such bid or bids, and in computing such interest cost the Authority will take into consideration any premium which any bidder offers to pay. No bid for less than par and accrued interest (which interest shall be computed on a 360-day basis) will be entertained, and the Authority reserves the right to award to any bidder all or any part of the Notes which such bidder offers to purchase in his proposal upon the basis of such proposal. If only a part of the Notes bid for in a proposal are awarded by the Authority, any premium offered in such proposal shall be pro rated and the Notes will be issued in denominations thereafter designated by the bidder. The further right is reserved to reject any or all bids. In the event that prior to the delivery of any of the Notes to the successful bidder therefor the income received by private holders from the obligations of the same type and character shall be taxable by the terms of any Federal income tax law hereafter enacted, the successful bidder may at his election be relieved of his obligations under the contract to purchase such Notes. . . . . . . . . . . . . . . . . . . . . Secretary