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<br />Official Statement
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<br />The City has authorized the preparation of an Official Statement containing pertinent
<br />information relative to the Bonds, and said Official Statement will serve as a nearly-final Official
<br />Statement as required by Rule 15c2-12 of the Securities and Exchange Commission. The
<br />Official Statement, when further supplemented by an addendum or addenda specifying the
<br />interest rates of the Bonds, together with any other information required by law, will constitute a
<br />Final Official Statement of the City with respect to the Bonds, as that term is defined in Rule
<br />15c2-12. By awarding the Bonds to any underwriter or underwriting syndicate submitting an
<br />official Proposal Form therefor, the City agrees that, no more than seven business days after the
<br />date of such award, it will provide without cost to the senior managing underwriter of the
<br />syndicate to which the Bonds are awarded 25 copies of the Official Statement and the addenda
<br />described above. The City designates the senior managing underwriter of the syndicate to which
<br />the Bonds are awarded as its agent for purposes of distributing copies of the Final Official
<br />Statement to each Participating Underwriter. Any underwriter executing and delivering an
<br />Official Proposal Form with respect to the Bonds agrees thereby that if its proposal is accepted
<br />by the City (i) it will accept such designation and (ii) it will enter into a contractual relationship
<br />with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each
<br />such Participating Underwriter of the Final Official Statement.
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<br />Continuing Disclosure
<br />
<br />Participating underwriters need not comply with the continuing disclosure requirements
<br />of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities
<br />
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<br />
<br />$1,000,000. Consequently, the City will not enter into any undertaking to provide continuing
<br />disclosure of any kind with respect to the Bonds.
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<br />Type of Proposal - Amount
<br />
<br />.
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<br />A sealed proposal will be for not less than $640,250 and accrued interest on the total
<br />principal amount of the Bonds. Proposals will be accompanied by a good Faith Deposit
<br />("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount
<br />of $13,000, payable to the order of the City. If a check is used, it must accompany each
<br />proposal. If a Financial Surety Bond is used, it must be from an insurance company licensed to
<br />issue such a bond in the State of Minnesota, and preapproved by the City. Such bond must be
<br />submitted to Juran & Moody, a Division of Miller, Johnson & Kuehn, Inc., prior to the opening
<br />of the proposals. The Financial Surety Bond must identify each underwriter whose Deposit is
<br />guaranteed by such Financial Surety Bond. If the Bonds are awarded to an underwriter using a
<br />Financial Surety Bond, then that purchaser is required to submit its Deposit to Juran & Moody, a
<br />Division of Miller, Johnson & Kuehn, Inc., in the form of a certified or cashier's check or wire
<br />transfer as instructed by Juran & Moody, a Division of Miller, Johnson & Kuehn, Inc., not later
<br />than 3:30 P.M., Central Time, on the next business day following the award. If such Deposit is
<br />not received by that time, the Financial Surety Bond may be drawn by the City to satisfy the
<br />Deposit requirement. The City will deposit the check of the purchaser, the amount of which will
<br />be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser
<br />SJB-184035vl
<br />CE155-16
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