Sale of Bond Anticipation Notes, Series 2021A

The Township of Little Egg Harbor, located in Ocean County, New Jersey, is actively soliciting proposals for the purchase of $4,928,750 Bond Anticipation Notes, Series 2021A. These notes are designated as non-callable and are not bank qualified. This municipal financing initiative represents a critical effort to secure funding through the sale of these notes via a fair and open process, as mandated by N.J.S.A. 40A:2-28. The comprehensive scope of work for the successful bidder encompasses the acquisition of the entire principal amount of these notes at a price not less than par, along with the requirement to specify a single interest rate. A key responsibility of the successful purchaser or underwriter will be to collaborate with the Township in meticulously establishing the issue price of the Notes, ensuring full compliance with pertinent Treasury Regulations, and understanding the intricate legal and tax implications associated with potentially reoffering these financial instruments to the public. These Notes are secured as general obligations of the Township, ultimately backed by ad valorem taxes levied upon all taxable property within the Township, with its full faith and credit firmly pledged for the punctual payment of both principal and interest. Bidders are required to submit their proposals on the official bid form, designated as Exhibit A, which is appended to the Notice of Sale document. The primary criterion for the award of these notes will be the lowest net interest cost presented to the Township. Eligible bidders are expected to possess the financial capacity to purchase the entire bond issue and demonstrate a thorough understanding of municipal bond market dynamics. They must also commit to assisting in the precise determination of the issue price, which may necessitate detailed reporting under specific "hold-the-offering-price" rules if the competitive sale requirements outlined in the Treasury Regulations are not fully met. The successful bidder will be responsible for designating a paying agent within 24 hours of the award, subject to the Chief Financial Officer’s explicit approval. Furthermore, if the successful bidder intends to reoffer the notes, they may be required to specify denominations of $100,000 or greater. All successful bidders must acknowledge their legal obligation to file annual disclosure statements concerning political contributions with the New Jersey Election Law Enforcement Commission (ELEC) if their cumulative compensation from public entities exceeds $50,000 within a calendar year, underscoring the importance of adherence to state election laws and ethical procurement practices. All bids for the $4,928,750 Bond Anticipation Notes, Series 2021A, must be received by Thursday, July 1, 2021, at precisely 11:00 a.m. New Jersey time. Submissions are accepted through multiple channels: via facsimile at (609) 291-9940, addressed to Anthony Inverso; via email to ainverso@muniadvisors.com; UNLOCK or electronically utilizing the PARITY Electronic Bid System provided by IPREO LLC. Bidders are explicitly advised that telephone bids will not be considered, and they bear sole responsibility for ensuring the timely receipt of their facsimile or emailed bids, as the Township disclaims any liability for transmission failures or delays. The final award determination is scheduled to be made no later than 1:00 p.m. on the bid date. The Notes themselves will be officially dated July 12, 2021, and are slated for maturity on July 12, 2022. The successful bidder will also be responsible for covering the CUSIP Service Bureau charge associated with the assignment of identification numbers. For any additional information or specific clarifications pertaining to this solicitation, interested parties are encouraged to contact Rodney Haines, Chief Financial Officer for the Township of Little Egg Harbor, at (609) 296-7241 x226, or Anthony Inverso, the Municipal Advisor, at (609) 291-0130.