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<br />EXHIBIT B <br /> <br />OFFICIAL TERMS OF <br />BOND SALE <br /> <br />. <br /> <br />$2,200,000 <br />GENERAL OBLIGATION ADVANCE REFUNDING <br />BONDS OF 1985 <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY <br />MINNESOTA <br /> <br />NOTICE IS HEREBY GIVEN that these bonds will be offered for <br />sale according to the following terms: <br /> <br />TIME AND PLACE: <br /> <br />Sealed bids on the bonds will be <br />opened on Tuesday, December 3, <br />1985, at 11:00 A.M., Central Time <br />at the offices of Juran & Moody, <br />Inc. Consideration of the bids for <br />award of the sale will be by the <br />City Council at 5:30 P.M., Central <br />Time, of the same day at the City <br />Hall in Arden Hills, Minnesota. <br /> <br />TYPE OF BONDS: <br /> <br />Fully registered general obligation <br />bonds, $5,000 or larger denomina- <br />tions at the option of the bidder. <br /> <br />DATE OF ORIGINAL <br />ISSUE OF BONDS: <br /> <br />December 15, 1985, <br /> <br />PURPOSE: <br /> <br />To refund in advance of maturity <br />the outstanding $2,515,000 General <br />Obligation Improvement Bonds of <br />1985, dated April 1, 1985. <br /> <br />INTEREST PAYMENTS: <br /> <br />June 1, 1986, and semiannually <br />thereafter on December 1 and <br />June 1. <br /> <br />MATURITIES: <br /> <br />December 1 in each of the years and <br />amounts as follows: <br /> <br />. <br />