What are the terms of the sale?
The winning bidder in a competitive sale at an oral auction is required to submit a non-refundable deposit of no less than 20% of the bid amount before close of the business day on the day of the auction. Each sealed bid must be accompanied by guaranteed funds for the amount required in the public notice for the sale which must be no less than 10% of the bid amount. The balance must be paid in full within 180 days of the sale date. The public notice for each sale contains detailed information on the requirements, terms, and conditions applicable to that sale.
The winning bidder in a competitive sale at an oral auction is required to submit a non-refundable deposit of no less than 20% of the bid amount before close of business on the day of the auction. Each sealed bid must be accompanied by guaranteed funds for the amount required in the public notice for the sale, which must be no less than 10% of the bid amount. The balance must be paid in full within 180 days of the sale date. The public notice for each sale contains detailed information on the requirements, terms, and conditions applicable to that sale.
MTEMC proposes to purchase the Lebanon Electric Department, including the street lighting system but excluding traffic signals. The proposal provides for Lebanon to retain all real property, buildings and certain rolling stock. Several million dollars will be invested to improve the electrical system over the next five years. 6) Will MTEMC receive a franchise? Yes. A franchise defines the terms and conditions by which MTEMC may operate. This includes use of city roads and streets and numerous other criteria the city might choose to include. As MTEMC will invest more than $28 million, which will require several years to amortize, it is necessary we agree on operating conditions via the franchise for a minimum of 15 years. 7) What process was used to evaluate the proposal? A task force of independent local business people and residents reviewed the situation. They investigated the issue from both sides and made recommendations to the Lebanon City Council. The council recommended a refere
What if I want out of my contract? Is there the possibility of vacation exchange? * Know your options. There’s deeded interest, or time-share ownership, which can be rented, sold, or willed. It is not, however, a property investment but an investment in future vacations. Some time-shares restrict the renter to a specific time frame and a specific vacation time. It is best to buy a time-share that you know you will use, as many of them have very lengthy commitment terms (for example, 50 years to life). * Cheek out the product. Take advantage of the many discounted mini-vacation packages and touring gifts that time-share resorts offer. Also, talk to owners when touring the premises. * Before you buy. Bead all documents carefully. And check out the American Resort Development Association’s Website (www.arda.org), which offers tips for buying a time-share, and the Association’s Resort Owners Coalition site (www.ardaroc.org), where owners discuss their experiences.
