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le the opinion of Bum! CuutcTel. the wroevt nn the Blinds is eve wpr ....r nwaian Us the State of Nlinnesnm will its subdivisions and nuuticipalities and dte interest to be paid nn
<br /> fle Bonds is gat ia( h.dible in the guess income t jlhe recipient yin United Stares or State of Nfinne.enn income rax purposes (bur i.s,subjeir ra federal ahetrnarn a witrnntrw trues
<br /> au n)pororioas a ... I Ah we ..ni lioachise Mies hnlwsed na corp, ... omits, including Imam lid in.sinution . told measw ell by net incanre mad the alterundve nimi...on toe base)
<br /> ronlbµ a present federal wnrl hfirwesatw Iona, regulations, rulings and decisions. (See "Tax Eeemption "lie, ein.)
<br /> 7'he Issuer n ill designrtre the Bonds ns "qualified tax-exempt obligations" purvtant fn Section 265 of the bttemal Revenue Code of 1986, its amended. +vhiclt permit., Jinnncinl
<br /> i ... rimmm, m deduct uneven expenses oBocable m the Bonds re) the esters pe, mined under prior Imc.
<br /> New Issue Non -Rated
<br /> OFFICIAL STATEMENT DATED MAY 28, 1998 .
<br /> CITY OF CENTERVILLE, MINNESOTA
<br /> $720,000*
<br /> GENERAL OBLIGATION SEWER AND WATER REVENUE BONDS, SERIES 1998
<br /> PROPOSAL OPENING: June 10, 1998, 11:00 A.M., C.T.
<br /> CONSIDERATION: June 10, 1998,6:00 P.M., C.T.
<br /> PURPOSFIAUTHORiTY /SECURITY: The $720,000• General Obligation Sewer and Water Revenue Bonds, Series 1998 (the "Bonds ") are being issued
<br /> pursuant to Minnesota Snuutes, Chapters 444 and 475, to provide funds for sanitary sewer and water main improvements in the City of Centerville, Minnesota
<br /> (the "City "). The Bonds will be general obligations of the City for which the City will pledge its full faith, credit and taxing powers. The Bonds will be in
<br /> Iully registered loon as to both principal and interest and will be in integral multiples of $5,000 each. Delivery is subject to receipt of approving legal opinions
<br /> of Kennedy & Graven, Chartered, of Nlinneapolis, Minnesota.
<br /> DATE OF BONDS: July 1, 1998.
<br /> MATURITY: February I as follows:
<br /> Year Amount- Year Amount
<br /> 2000 $60,000 2005 $75,000
<br /> 2001 60,000 2006 75,000
<br /> 2002 65,000 2007 80,000
<br /> 2003 65,000 2008 85,000
<br /> 2004 70,000 2009 85,000
<br /> -The City reserves the right to increase or decrease the amount of individual maturities on the day of sale, in increments of $5,000 each.
<br /> TERM BOND OPTION: All dates are inclusive. Proposals for the Bonds may contain a maturity schedule providing for any combination of
<br /> serial bonds and term bonds, subject to mandatory redemption, so long as the amount of principal maturing or subject
<br /> to mandatory redemption in each year conforms to the ntmurity schedule set forth above.
<br /> REDEMPTION: Bonds maturing February 1, 2006 and thereafter are subject to call for prior redemption on February 1, 2005 and any
<br /> date thereafter, at par.
<br /> INTEREST: February 1, 1999 and semiannually thereafter,
<br /> MININIUM PROPOSAL: $711,065. r
<br /> GOOD FAITH DEPOSIT: $14,400, payable to the City.
<br /> PAYING AGENT: Firstar Bank of Minnesota, N.A., St. Paul, Minnesota.
<br /> BOOK - ENTRY -ONLY: See "Book- Entry -Only System" herein.
<br /> This Official Statement will be further supplemented by an addendum specifying the offering prices, interest rates, aggregate principal amount, principal
<br /> amount per maturity, anticipated delivery date, and underwriter, together with any other information required by law, and, as supplemented, shall constitute
<br /> a
<br /> "Final Official Statement" of the Issuer with respect to the Bonds, as defined in S.E.C. Rule 15c2 -12.
<br /> 3060 Centre Pointe Drive
<br /> Roseville, Minnesota 55113 -1105
<br /> Ehlers & Associates, Inc. (612) 697 -8500 • FAX (612) 697 -8555
<br /> www.ehiers- inc.com
<br /> 40 LEADERS IN PUBLIC FINANCE Offices in Roseville, MN • Brookfield, WI
<br />
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