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<br />� NOTICE OF SALE
<br />$ 420.000 5'Tx�,T �tov�T eoitns
<br />SERIES s
<br />VILLAGE OF ARIlF�1 HIISSf RAMSEY COUNTY� MINNFSOTA
<br />NOTICE IS �Y GIVEN that the Coimcil of the Vi1].age oY Arden Hills, Min-
<br />nesota, will mezt in the Council Chambers oP the Village HaLl in said Village at 7:3�
<br />o' clock �.M„ Centrat Daylight Saving Time, on�hlLZSdey , the ?Dth dqy p� July ,
<br />1961, to receive� open and coasid,er sealed bids for ar�d award the sale oi its nego-
<br />tiable coupon2 g o00 obligation Strest I�rwement Bamds, Series B, in the principal
<br />amovut of $ �� , to be issued to pay expenses incurred and to be incurred in the
<br />construction of Street Improvements n�bered 3, 4 and 5 of the Vi].lage, pursvant to
<br />the provlsions aad under the authority oP Minnesata Statutes 1957, Chapter �+29, as
<br />amended. The bonds will be dated August 1, 1961, vill be in the dena�.tnetio� oP
<br />$1,000 each, �rill bear interest at a rate or rat�s to be flesigizated by the succeasflal
<br />bidder in integral multiples oY l�k or 1/10 of l� per annwn, p�yable AugUst 1, 196.?�
<br />ancl semiannually thereaPter onF@bru�Ty 1 aud AugUS� 1 of each year, and aiLl ma•
<br />ture serially on Au�USt 1 in the years and minounts as follo[rs:
<br />�34Q.CtiO 1963 - 1�371
<br />60,000 1�72
<br />The bonds maturing in the years 1969'through 1972 Ki11 be callable at the option of
<br />the Vil].age on Au�just 1, lg 6fj and any interest p�ment date thereafter at per and
<br />accrued interest. Of the bond.s autstending at the time of redemptioa, those bearing
<br />•the highest coupon rates will be prepaid first, in inverse order of their serial nwu-
<br />bers. Principal and interest will be made pe,yable at such bazilcing institution in the
<br />United States as shall be newed by the pnu�chaser�. The Village xill flu nish, without
<br />cost to the purchaser, and within 30 clays after date oi sale, the printed snd exe-
<br />cuted bonds and approving legal opinion oY Messrs. Dorsey, Owen, BRrber, Marquart &
<br />Windhorst, of Mianeapolis, Minnesota, and Messrg. Peterson & Popovich, of St. Paul,
<br />Minnesota, together with the customary no-litigation certiYicate.
<br />Sealed bids marked "Bid for $ 420 � 040 Bonds'� �,y be ma17-ed or delivered
<br />to the undersigned Village Clerk and mus� be received at her oYYice prior to the ti�
<br />of ineeting. Oral auction bids wil1 nat be considered. Each bid must be uncondition-
<br />al except as to legelity and must be acc�panied by a certified check in the wnount
<br />of $ 8�Q�Gpayable to the Village Treasurer,to be retained as liquidated damages in
<br />case the bid be accepted and the bidder shall feil to co�ply therewith. Each b�d is
<br />to bear a uniform basic rate oP interest fr� date of issue until paid but bidders
<br />may speciiy that a12 or any of the bonds shall besr interest at an additional rate,
<br />to be represented by seperate and detachable coupons, for a period expiring on or
<br />before AUguSt 1, ig6.�, provided that the aggregate amount of ixiter�st represented
<br />by such coupons dces not exceed �$,4CQ Bids M*ill be canpared according to the
<br />lowest dollar amount of net interest cost c�puted to stated maturities of said bonds,
<br />deducting therefram the pr�i� if aqy. No bid of less than per..and accrueA. interest
<br />will be considered and the Village reserves the right to reject sny or a11 bids, and
<br />to �aive any informality in at�y bid and to adjoium the sale if deemed necessary.
<br />Dated: June 26, 1961.
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<br />IARTtAINE STRCMiQUIST
<br />Village Clerk
<br />BY ORI�R OF THE VILLAGE CWNCIL
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