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PRELIMlNARY OFFICIAL STATEMENT DATED FEBRUARY 25, 2004 NEW JsSVI!S lIANK-QIJAUnEl> BOoK-1:NntY ONLY _TED Wnh n:speot '" the $180,000 General Obligation Tanponuy Impro_ Boads, Series 2004A, _ April I, 2004, (1he"Bondsi it is 1he opiDlon of Kennedy /I: Grav.... CharteJod. Bond Counsel, based on present federal and M_Jaws. .....0Ii0Ds, ndinp and decisions, at the time of1beir W- ood delivery 10 the original purt/Jaser, ........ on 1he Bonds is ..cIudecI from gross income for purposes ofUniteclStates income tax ODd is excluded, 10 the ............... in COOIpUling _ gross ODd taxable net income for purposes of State of Minnesota income tax (_Iboo Minnesota _Iso..... _ by income and imposed on COfJlOnlIions ODd IinanciaI institutions). In...... on the Bonds is not 00 item of tax ~ for p_ of the -.. minimum tax imposed on individuals ODd COIpOnlIions; however, intmst on the Bonds is _ into lIC<O.... for die purpose of clerermining al!justed _ earnings for purposes of COOIpUling the federal alternative minimwn tax imposod on COfJlOnlIioIlS. No opinion wiD be expIOSSOd by Bond Counsel repnIIDg olber _ or federal tax consequenees caused by the receipt or aecmal of _ on the Bonds or arising _ respeol to ownersbip oflbe Bonds. See "Tax Exemption" herein for additional information. CITY OF CENTERVILLE, MINNESOTA $780,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 2004A Dated Date: Aprill, 2004 Interest Dne: Eaeh Aprill and Ortober 1 Commeneing Oetober I, 2004 Ammmt Rate Maturity Yield PriCe $780,000 4/01/07 The Bonds of this issue maturing on April I, 2007 are subject to redemption, in whole or in part, On April 1, 2005, or any date thereafter, at a price of par plus accrued interest. The Bonds are being issued pursuant to Minnesota Statutes, Chapters 429 and 475, as amended. Proceeds will be used to provide money to finance public infrastructure improvements related to the City's 2004 Street and Utility Improvement Project. See Authority and Purpose herein for additional information. Bonds will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York. Individual purchases will be made in book-entry form only, in the principal amount of $5,000 or any whole multiple thereof. Purchasers will not receive physical delivery of Bonds. See "Book-Entry System" in Description of Bonds herein for additional information. Paying AgentlRegistrar will be U.S. Bank National Association, SI. Paul, Minnesota. Proposals: Wednesday Mar~b 10,200411:00 AM Central Time Award: Wednesday Mar~b 10,20046:30 PM, Central Time Proposals may contain a maturity schedule providing for any combination of serial or tenD bonds. All tenD bonds shall be subject '" mandatory sinking fund redemption and must conform to the maturity scbedule set forlh above lit n price of par plus acemed interest. Proposals must be for not Jess than $772,200 and aa:rued interest on the total principal amount of the Bonds, and must be accompanied by a eertified or cashier's cheek or a Financial Surety Bond in the amount of$15,600, payable'" the order orlbe City. Award of the Bonds will on Ibe basis of True Intttesl Cost (TIC). Financial Advisor to \be Issuer: NORTHLAND.SECURITIES 45 South 7'" Street Suite 2500 Minneapolis, MN 55402 8O().851-2920