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<br />NOTICE OF SALE
<br />' $1, %35,000
<br />T�AIPORARY IMPROVEMENT BOrIDS
<br />Series 3
<br />VILLAGE OF ARD;?,N FiILLS
<br />IaAMSEY COUiVTY, MINiVE�OTA
<br />NO'�'ICE IS Ii�REBY GIVEN that th2 Village Council of the
<br />Villaqe of Arden H�11s, Ramsey County, P�innesota, will maet in
<br />the Village Hall in said village o�z mhursday, the 1Sth day of
<br />December, 155: at 8:00 o'clock p.m. ior the ;urpose of receiving
<br />• aczd considering s�aled bids for the ��urchase of $1,735,000
<br />general obligation Temporary Im��rovement Bonds, Series 3, of the
<br />village, said boizds to be dat��d Jas�uary Y, 1970, to bear interest
<br />at th� rate designated by the successfu"1 hidder, �ayable Ju�y 1,
<br />1970 and semiannually thereafter on January 1 and July 1 in aach
<br />year, all of said k�onds to mature on January 1, 1973.
<br />All bonds of this issue are su�j�ct to prior paymenf in
<br />inverse or3er oi sexial numbers on January 1, 1972, at par and
<br />accrue3 interest. Both �rinci��al and interest will be oayable
<br />at any suitavl� ba�zl� or trust con,t�a�zy in the United States
<br />designated by tha successful biddflr c�i�hin 4G hours after award.
<br />The village will fu•rnish, without cest to the �urchaser, the
<br />mimeographed or ��rinted and ex�cutLd ];onds in denominatio=zs of
<br />$1,000 each, or, at the �urchaser's request within 4E hours
<br />after award, in any larger denomination, and the unqualified
<br />a�+proving lagal oainion of Messrs. Dorsey, Marquarf, Windhorst,
<br />W�st and Halladay cf Minnea�oli�, t�iinnesota, and Me�srs.
<br />Peterson & Popovich of St. Paul, Minn�sota, together with the
<br />customary no litigation cartificate. Delivery will be made any-
<br />where in the Unit2d States within 30 days after acce,�tance of
<br />the bid, without cost to the pucchaser.
<br />Sealed bids marked "Bid for $i,735,000 Temaorary Improvement
<br />Bonds, Series 3" may be mailed or otherwise delivered to the
<br />undersigned, l�ut must be recaived i�y izim p�rior to the time of
<br />said meeti,zq. �Gch bid must b� uncondi'cional axcept as to bonds
<br />being issued and delivered with said o_�iaion and the no litiga-
<br />tion certificat: iu coaformity with this notice, and each bid
<br />must be accoms�a�+iec� uy a certified check or cashier's chec).
<br />�ayai�le to the order of "Villaye oi Arden Hills, Ramsey Cou�ty,
<br />Minnesota" in the amount of $3�,700 to ?�e forfeited as liquidated
<br />damages in case the �id is accepted and the bidder fails to
<br />comply therewith.
<br />Bidders may sppcify a sinyi� rata of interest, expressed
<br />in a multip'le of Eive-hundredths (5/?.00) of one percent (1%)
<br />• �er annum, a1�1�licable to all honds from date of issue to
<br />maturity, not exceeding seven percent (%'/o).
<br />The bid off�rinj the low�st net int�rest cost (total
<br />interest from da�e of issuance to date of maturity, less any
<br />pr�mium offerad or plus any amouni� iess than $1,735,000 bid for
<br />�rinci�al) will be deemed the most favorable. ido bid for less
<br />than $1,705,000 for ��rinci�al �ius accrued interest cn $1,735,000
<br />at the coupon ra�e from date of issue to date of bond delivery
<br />will be considered and oral auction �ids will not be received.
<br />The right to waive any informality in any bid and the right to
<br />reject any a�zd ell bids are resarve�.
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