3.3.2.2.1 Soliciting the Bid: Notice of Sale
The issuer will post a Notice of Sale in The Bond Buyer and elsewhere, which announces the amount of the proposed sale, the type of bonds being offered, the dated date (the date when interest will start accruing on the purchased bonds), and the process for submitting bids (including location and time). The notice will also announce the structure of the issue, the desired form of the bid, and the status of the legal opinion, whether qualified or unqualified.
The structure of the issue will either be serial or term. A serial issue is a bond whose maturities are scheduled over several years and are quoted on a yield to maturity basis. A term issue is one in which the bonds all mature in a single year and are