BID - Delinquent Tax Liens 2009

The document is a Request for Proposals (RFP) for the sale of delinquent tax liens by the City of Bridgeport, Connecticut. The document outlines the terms and conditions for potential purchasers of these tax liens. According to the document, the City will not sell, transfer, assign, or convey the tax liens to any other person or entity without prior consent from the Seller. However, the Purchaser is allowed to conditionally pledge a security interest in the tax liens to an affiliate for financing purposes. The Purchaser is also permitted to designate an affiliate to take title to properties acquired through foreclosure. The successful bidder will be required to sign a definitive Delinquent Lien Assignment Agreement that incorporates the provisions of the RFP and other requirements set by the City. The Purchaser must be duly organized and in good standing under the laws of Connecticut or qualified to do business in the state. They must also comply with state and federal securities laws or be exempt from such laws in any assignment or resale transactions. The Purchaser agrees to indemnify and hold harmless the City, its employees, agents, and officials from any legal proceedings or claims arising from the exercise of powers granted by the RFP, collection efforts, foreclosure actions, violations of securities laws, or any other acts related to the tax liens. The Purchaser must also provide notice to the City when commencing a foreclosure action and indemnify the City for any loss of interest in unassigned Future Tax Liens resulting from the foreclosure. The Purchaser is required to keep a resolution on file with the Tax Collector and Town Clerk, stating the current address of the Purchaser for payment purposes. The document also mentions the City's tax exemption status and provides information on obtaining the listing of liened properties for sale. The City states that certain properties, such as those with tax abatement requests, EPA liens, pending tax appeals, or personal disabilities, have been eliminated from the list of liened properties. However, the City does not guarantee that every conditioned parcel has been removed. Overall, the document outlines the requirements and procedures for potential purchasers of delinquent tax liens from the City of Bridgeport.