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<br />EXHIBIT A
<br />OFFICIAL TERMS OF OFFERING
<br />$ 2,600,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2007A
<br />CITY OF CENTERVILLE, MINNESOTA
<br />
<br />Sealed bids for the Improvement Bonds described above (the "Improvement Bonds") will be received by the City of Centerville (the
<br />"City"), on Wednesday, October 24, 2007, at 11 :00 a.m., central time, at the office of the City Clerk, 1880 Main Street, Centerville,
<br />Minnesota, at which time they will be opened and tabulated. Consideration of the bids for award of the sale of the Improvement
<br />Bonds will be by the City Council at a regular meeting at 6:30 p.m. the same day as the bids are received.
<br />
<br />TYPE AND PURPOSE OF OBLIGATIONS
<br />
<br />The Improvement Bonds are issued pursuant to Minnesota Statutes, Chapter 429 and Chapter 475 for the purpose of providing financing
<br />for a portion of the construction cost of street improvements (the "Project"). Project costs have been estimated as follows:
<br />
<br />Activity
<br />
<br />Estimated Cost
<br />
<br />Construction and related cost
<br />Engineering
<br />Legal and Administrative
<br />Capitalized Interest
<br />Subtotal
<br />
<br />$ 1,960284
<br />385,340
<br />45,876
<br />158.000
<br />$ 2,549,500
<br />
<br />Discount
<br />
<br />$50,500
<br />$ 2.600.000
<br />$ 2.600 000
<br />
<br />Total
<br />
<br />Balance to be Financed
<br />
<br />The principal of and interest on the Improvement Bonds is payable from special assessments ievied against property benefited by the
<br />financed improvements and ad valorem taxes. The Improvement Bonds are general obligations of the City for which its full faith, credit,
<br />and taxing powers will be pledged.
<br />
<br />DETAILS OF IMPROVEMENT BONDS
<br />
<br />The Improvement Bonds will be dated December 1,2007, and will bear interest payable on June 1,2008, and semiannually
<br />thereafter on each December 1 and June 1 (each referred to herein as an "Interest Payment Date"). Interest on the Improvement
<br />Bonds will be payable by check or draft mailed to the registered owner thereof shown on the bond registration records maintained
<br />by the Bond Registrar at the close of business on the 15th day (whether or not on a business day) of the month immediately
<br />preceding each Interest Payment Date. The Improvement Bonds will be in the denomination of $5,000 or any integral multiple
<br />thereof and shall be in fully registered form. The Improvement Bonds will mature June 1 in the years and amounts as follows:
<br />
<br />Year Amount Year Amount Year Amou nt
<br />2010 $ 140,000 2015 $ 170,000 2020 $ 215,000
<br />2011 $ 145,000 2016 $ 175,000 2021 $ 220,000
<br />2012 $ 150,000 2017 $ 185,000 2022 $ 235,000
<br />2013 $ 155,000 2018 $ 1 95,000 2023 $ 245,000
<br />2014 $ 165,000 2019 $ 205,000
<br /> REDEMPTION
<br />
<br />The City may elect on June 1, 2011, and on any day thereafter, to prepay the Improvement Bonds maturing June 1,2012 and thereafter.
<br />Redemption may be in whole or in part and If in part at the option of the City and in such manner as the City shall determine. If less than
<br />all the Improvement Bonds of maturity are called for redemption, the City will notify DTC of the particular amount of such maturity to be
<br />prepaid. DTC will determine by lot the amount of each participant's Interest in such maturity to be redeemed and each participant will
<br />then seleel by lot the beneficiai ownership interests in such maturity to be redeemed. All prepayments shall be at a price of par plus
<br />accrued interest.
<br />
<br />/(//
<br />
<br />CITY OF CENTERVILLE
<br />
<br />JOHN W. MEYER
<br />
<br />PAGE 4 of 20
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