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<br />EXHIBIT B <br /> <br />OFFICIAL TERMS OF <br />BOND SALE <br /> <br />. <br /> <br />$ 2 ,5l5 ,000 <br />GENERAL OBLIGATION IMPROVEMENT <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 will be received until <br />Monday, March 25, 1985, at 3:00 <br />P.M., Central Time at the City Hall <br />in Arden Hills, Minnesota. The <br />award of the sale will be at 7:30 <br />P.M., Central Time, of the same day <br />at the same place by the City <br />Council. <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 />April 1, 1985. <br /> <br />PURPOSE: <br /> <br />To refund at maturity the outstand- <br />ing General Obligation Temporary <br />Improvement Bonds of 1982 of the <br />City and to finance various <br />additional improvements in the <br />City. <br /> <br />INTEREST PAYMENTS: <br /> <br />December l, 1985, and semiannually <br />thereafter on June land <br />December 1. <br /> <br />. <br />