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<br />AMOUNT .
<br />ISSUER -
<br />SALE DATE .
<br />OPENING.
<br />
<br />AWARD-
<br />TYPE OF ISSUE.
<br />
<br />SECURITY & PURPOSE -
<br />
<br />DATE OF ISSUE.
<br />INTEREST PAID .
<br />
<br />DENOMINATIONS.
<br />
<br />MATURITIES.
<br />
<br />02101105 $55,000
<br />02101/06 55,000
<br />
<br />REDEMPTION FEATURE .
<br />
<br />SUMMARY OF OFFERING
<br />
<br />$635,000
<br />GENERAL OBLIGATION IMPROVEMENT BONDS OF 2002
<br />(Book-Entry Only)
<br />
<br />$635,000.
<br />City afCenterville, Miooesa.. (The "City").
<br />Wednesday,Seplernber25,2002.
<br />II :00 A.M. Central Time, at Juran & Moody, a division of MUter Johnson Steichen Kinnard. Jnc., 920 Second
<br />Avenue South, Suite 1400, Minneapolis, Minnesota 55402, telephone: (612)370.2700 or (BOO) 9504666.
<br />6;30 P.M., Central Time, at the Centerville City Hall, 1880 Main Street, Centerville, Minnesota 55038-9794.
<br />General Obligation Improvement Bonds of 2002 (the "Bonds"). See Authoriryand Purpose and EslimaledSource and
<br />Application oj Funds herein for additional information.
<br />The Bonds are being issued pursuant to Minnesota Statutes. Chapters 429 and 475, as amended, Bonds are payable
<br />primarily from special assessments against all benefitted property. The full faith and credit of the City is pledged to
<br />their payment and the City has validly obligated itself to levy additional ad valorem taxes in the event of any defi..
<br />ciency in the Debt Service Account established for this issue. Taxes will be levied upon all of the taxable property
<br />within the City and without limitation of amount Interest is excluded from gross income for purposes of United
<br />States income tax and is excluded, to the same extent, in computing both gross and taxable net income for purposes of
<br />Statt: of Minnesota income tax (other than Minnesota franchise taxes measured by income and imposed on corpora~
<br />tiORS and financial institutions.) Interest is not an item of tax preference for purposes oftbe federal aJternative mini-
<br />mum tax imposed on individuals and corporations or the Minnesota alternative minimum tax applicable to
<br />individuals, estates or trusts. Proceeds will be used to provide moneys for the financing of various assessable im-
<br />provements within the City including but not limited to streets, sanitary sewer, water main & line extensions. stann
<br />sewer, sidewalks and curb & gutter. See Authority and Purpose and Estjrnoted Source and ApplicQtion of Fund3
<br />herein for additional information,
<br />
<br />October 1,2002.
<br />August J, 2003, and semiannually thereafter on February I and August 1 to registered owners appearing of record in
<br />the bond register as of the close of business on the fifteenth (151h) day (whether or not a business day) of the immedi~
<br />ately preceding month.
<br />$5,000.
<br />
<br />02/0i/07 $55,000
<br />02/01108 60,000
<br />
<br />02101109 $60,000
<br />02101110 65,000
<br />
<br />02101111 $70,000
<br />02101112 70,000
<br />
<br />02101113 $70,000
<br />02101114 75,000
<br />
<br />The City may elect on February), 2007, and on any day thereafter, to prepay Bonds. Redemption may be in whole or
<br />in part and ifin part at the option of the City and in such manner as the City wi1l determine. If less than all Bonds ofa
<br />maturity are ca.lled for redemptiol1, the City will norify DTe of the particular amount of such maturity to be prepaid.
<br />DTC will detelll1ine by lot the amount of each participant's interest in such maturity to be redeemed and each partici-
<br />pant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at
<br />a price of par plus accrued interest.
<br />
<br />Bonds will be issued as fully registered and, when issued. will be registered in the name of Cede & Co., as nominee
<br />of The Depository Trust Company. New York, New York, to which principal and interest payments will be made.
<br />Individual purchases will be made in book~entry form only, in the principal amount of $5,000 or any whole multiple
<br />thereof. Purchasers will not receive physical delivery of Bonds.
<br />
<br />REGISTRARfPA YING AGENT ~ U.S. BanI< National Association, St Palll, MinneSO(a.
<br />
<br />BOOK.ENTRY.
<br />
<br />METHOD OF SALE.
<br />
<br />T AX DESIGNATIONS.
<br />
<br />LEGAL OPINION.
<br />RATING -
<br />
<br />ESTIMATED CLOSING-
<br />PRIMARY CONTACT -
<br />
<br />Sealed proposals only, accompanied by a good faith deposit in the amount of $12,700 at a price of not less than
<br />$626,110 and accrued interest. See Terms of Proposal herein for additional information.
<br />
<br />NOT Private Activity Bonds. These Donds are not "private activity bonds" as defined in Sectionl41 of the lntemal
<br />Revenue Code of 1986, as amended (the Code),
<br />Qualified Tax-Exemot Obligations - The City will designate these Bonds "Qualified tax-exempt obligations" for pur-
<br />poses of Section 265(b)(3) of tile Code.
<br />Kennedy & Graven. Chanered, Minneapolis. Minnesota (the "Bond Counsel").
<br />
<br />The City currently does flot have a general obligation bond rating assigned by Moody's Corporation Services or
<br />Standard & Poor's Corporation, The City wlll not apply for a rating on this issue.
<br />October 14,2002.
<br />Kim Moore-Sykes, Administrator, City ofCenterville, (651) 429~3232.
<br />Teresa Bender, Clerk. Treasurer, City ofCenterville, (651) 429-3232.
<br />George D. Eilenson, Vice President, Juran & Moody, (612) 370.2700 or (800) 950-4666.
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