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<br />,- . to <br /> <br />for bonds of any subsequent maturity. Each rate must be in an inte- <br />gral multiple of 5/100 or 1/8 of 1%, and no rate of interest nor the <br />net effective average interest rate of the issue may exceed the <br />maximum rate of interest permitted by law on the day of sale. <br /> <br />Paying Agent <br /> <br />The City will name the Registrar which shall be subject to <br />applicable SEe regulations. Principal will be payable at the prin- <br />cipal office of the Registrar and interest will be payable by check or <br />draft of the Registrar mailed to the registered holder of a bond. The <br />City will pay the reasonable and customary charges for the services of <br />the Registrar. <br /> <br />CUSIP Numbers <br /> <br />The City will assume no obligation for the assignment or <br />printing of CUSIP numbers on the bonds or for the correctness of any <br />numbers printed thereon, but will permit such numbers to be assigned <br />and printed at the expense of the purchaser, if the purchaser waives <br />any extension of the time of delivery caused thereby. <br /> <br />Delivery <br /> <br />Within 40 days after sale, the City will furnish and deliver <br />to the office of the purchaser or, at its option, will deposit with a <br />bank in the United States selected by it and approved by the City as <br />its agent to permit examination by and to deliver to the purchaser. <br />the printed and executed bonds, the unqualified opinion thereon of <br />bond counsel. and a certificate stating that no litigation in any <br />manner questioning their validity is then threatened or pending. The <br />,charge of the delivery agent must be paid by the pu~chaser. but all <br />other costs will be paid by the City. The purchase. price must be paid <br />upon delivery of the bonds in funds available for expenditure by the <br />City on the day of payment. <br /> <br />Legal Opinion <br /> <br />An unqualified legal opinion on the bonds will be furnished <br />by LeFevere, Lefler. Kennedy. O'Brien & Drawz, 8 Professional Associa- <br />tion, Minneapolis, Minnesota. The legal opinion will be printed on <br />the bonds at the request of the purchaser. The legal opinion will <br />state that the bonds are valid and binding general obligations of the <br />City, payable primarily from special assessments against benefitted <br />properties and that the City is obligated and required to levy taxes <br />for the principal and interest thereon 8S the same become due without <br />limit as to rate or amount. <br /> <br />Type of Bid - Amount <br /> <br />Sealed bids must be mailed or delivered to the undersigned <br />and must be received prior to the time of said meeting. Each bid must <br />be unconditional and must be accompanied by a cashier's or certified <br />check or bank draft in the amount of $12,300, payable to the City <br />