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<br />per annum, which interest will be payable December 15, 1958, and semi- <br /> <br />I <br />I <br />I <br />I A <br /> <br />annually thereafter on June 15 and Decerober 15 of each year. <br /> <br />Bids will be preferred according to the lowest net interest <br /> <br />cost (total dollar amount of interest payable to the date of stated roaturity <br /> <br />at the coupon rate specified, less the amount of any premium offered). No <br /> <br />. <br /> <br />bid of less than par and accrued interest will be considered and the Village <br /> <br />reserves the right to reject any and all bids, to waive any inforn1alities and <br /> <br />to adjourn the sale, if deemed expedient. No oral bids will be considered. <br /> <br />The successful bidder will be furnished, without cost, the <br /> <br />printed bonds and the approving legal opinion of Briggs, Gilbert, Morton, <br />Kyle &: Mac.artney to the effect that the bonds are valid and binding general <br /> <br />obligations of the Village. The bonds will be delivered to the purchaser <br /> <br />within forty days from the date of sale without cost to the purchaser if <br /> <br />delivered in Hennepin or Ramsey Counties, Minnesota. All bids must be <br /> <br />unconditional except as to legality, which may be conditioned upon the <br /> <br />opinion of the aforesaid attorneys and must be accompanied by a cashier's <br /> <br />check, bank draft or certified check in the amount of $500. 00 payable to <br /> <br />the Village, to be forfeited as liquidated damages in the event the bid is <br /> <br />accepted and the bidder shall fail to comply therewith. <br /> <br />Proposals should be addressed to LORRAINE E. <br /> <br />STROMQUIST, Clerk of the Village of Arden Hills, 4541 Lakeshore Place, <br /> <br />St. Pau1 12, Minnesota, and enclosed in a sealed envelope marked on the <br /> <br />outside "Bid for $10,000.00 Real Estate Purchase Bonds of 1958'1. <br /> <br /> <br /> <br />Lorraine E. Stromquist, C <br />of the Village of Arden Hi <br /> <br />I <br />I <br />'I <br />II <br />Ii <br />il <br />'I <br />II <br />!i <br />I, <br />il <br />!I <br />i <br />I <br /> <br />I <br />l <br /> <br />May 20, 1958 <br /> <br />Further information may be <br />obtained from the above- <br />named Village Clerk of <br />Arden Hills, Minnesota. <br /> <br />3. Each and all of the terms and provisions of the foregoing <br /> <br />Notice of Bond Sale are hereby adopted as the terms and conditions of said <br /> <br />bonds, and the sale thereof. <br /> <br />- 3 - <br />