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. . . NOTICE OF SALE $1,220,000 IMPROVEMENT BONDS VILLAGE OF ARDEN HILLS RAMSEY COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that the Village Council of the Village of Arden Hills will meet in the Village Hall in said Vil- lage, on Thursday, December 16, 1971, at 8:00 o'clock P.M., to re- ceive, open and consider sealed bids for the purchase of $1,220,000 Improvement Bonds of the Village to be dated as of January 1, 1972. The bonds will be issued in denomination of $5,000 each and num- bered serially, will bear interest at a rate or rates designated by the successful bidder subject to the limitations stated below, payable July 1, 1972, and semiannually thereafter on January 1 and July 1 in each year, and will mature in order of serial num- bers on January 1 in the amount of $60,000 in each of the years 1973 through 1988 and $65,000 in each of the years 1989 through 1992. The bonds maturing in the years 1973 through 1980 will not be subject to redemption before maturity. The bonds maturing in the years 1981 through 1992 will be each subject to redemption and prepayment at the option of the Village in inverse order of their serial numbers on January 1, 1980, and any interest payment date thereafter, at par plus accrued interest to the redemption date. Principal and interest will be made payable at a suitable bank in the United States designated by the successful bidder, subject to approval of the Village Council. The Village will furnish without cost to the purchaser and within 30 days after award of sale, the printed and executed bonds and the unqualified approving legal opinion of Messrs. Dorsey, Marquart, Windhorst, West & Halladay, of Minneapolis, Minnesota, and Messrs. Peterson & Popovich, of st. Paul, Minnesota, and a certified transcript of proceedings authorizing the issue, including a certificate show- ing absence of litigation. The text of the legal opinion will be printed on the reverse side of each bond. Delivery will be made without cost to the purchaser at any point in the United States. Payment for the bonds must be made in funds immediately available to the Village on the date of delivery. Sealed bids may be mailed or delivered to the undersigned Village Clerk and must be received before the time of the meeting. Oral auction bids will not be considered. Each bid must be un- conditional except as to legality and absence of litigation, and must be accompanied by a cashier's or certified check or bank draft in the amount of $24,400, payable to the Village Treasurer, to be retained by the Village as liquidated damages if the bid is accepted and the bidder fails to comply therewith. Each bond must bear a single uniform rate from date of issue until paid, -2-