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<br />EXHIBIT A <br /> <br />NOTICE OF BOND SALE <br /> <br />$2,5l5,000 <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY <br />MINNESOTA <br />GENERAL OBLIGATION IMPROVEMENT BONDS OF 1985 <br /> <br />Sealed bids on these bonds will be received until Monday, March <br />25, 1985, at 3:00 P.M., Central Time, at the City Hall, in <br />Arden Hills, Minnesota. The award of the sale will be at 7:30 <br />P.M., Central Time, of the same day at the same place by the <br />City COuncil. The bonds will be dated April 1, 1985 and <br />interest will be payable December 1, 1985 and semiannually <br />thereafter. The bonds will be general obligations of the <br />Issuer for which its unlimited taxing powers will be pledged. <br />The bonds will mature on December 1 in the years and amounts as <br />follows: <br /> <br />1986-l989 <br />1990 <br />1991 <br />1992-l993 <br />1994-l995 <br />1996 <br /> <br />$ 350,000 <br />$ 250,000 <br />$ 200,000 <br />$ l50,000 <br />$ l25,000 <br />$ 115,000 <br /> <br />All bonds maturing on or after December 1, 1992 are subject to <br />prior payment on December l, 1991 and any interest payment date <br />thereafter at a price of par and accrued interest. Sealed bids <br />for not less than $2,467,215 and accrued interest on the <br />principal sum of $2,515,000 will be accepted. No rate of <br />interest nor the net effective average rate of the issue may <br />exceed the maximum rate allowed by law at the time of sale. An <br />acceptable approving legal opinion will be furnished by Briggs <br />and Morgan, Professional Association, of St. Paul and <br />Minneapolis, Minnesota. The proceeds will be used to refund at <br />maturity the outstanding General Obligation Temporary Improve- <br />ment Bonds of 1982 of the City and to finance various <br />additional improvements in the City. <br /> <br />. <br />