2004-03-10 CC Meeting - Laserfiche WebLink

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proposal maker, as a condition of delivery of the Bonds, will be required to deposit the bond certificates with DTC. The Issuer will pay reasonable and customary charges for the services of the Registrar. DATE OF ORlGINAL ISSUE OF BONDS: April ], 2004 PURPOSE: For tbe purpose of providing money to finance public infrastructure improvements related to the City's 2004 Street and Utility Improvement Project. INTEREST PAYMENTS: October I, 2004, and semiannually thereafter on April I and October I to registered owners of the Bonds appearing ofrecord in the bond register as of the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. MA TURlTIES: April 1 in each of the years and amounts as follows: Year Amount 2007 $780,000 Proposals for the Bonds may contain a maturity schedule providing for any combination of serial Bonds and term Bonds, subject to mandatory redemption, so long as the amount of principal maturing or subject to mandatory redemption in each year conforms to the maturity schedule set forth above. REDEMPTION: The Bonds are subjeclto redemption and prepayment at the option of the Issuer on April I, 2005, and on any date thereafter at par. CUSIP NUMBERS: Ifthe Bonds qualifY for assignment of CUSIP numbers such numbers will be .printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for a failure or refusal by the Purchaser thereof to accept delivery of and pay for the Bonds in accordance with terms of the purchase contract. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. DELIVERY: Forty days after award subject to approving legal opinion of Kennedy & Graven, Chartered, of Minneapolis, Minnesota. Legal opinion will be paid by the Issuer and delivery will be anywhere in the continental United States without cost to the Purchaser at DTC. TYPE OF PROPOSAL: Sealed proposals of not less than $772,200 and accrued interest on the principal sum of $780,000 from date of original issue of the Bonds to date of delivery must be filed with the undersigned prior to the time of sale. Proposals must be unconditional except as to legality. A certified or cashier's check (the "Deposit") in the amount of $15,600, payable to the order of the Administrator of the Issuer, or a Financial Surety Bond complying with the provisions below, must accompany each proposal, to be forfeited as liquidated damages if proposal maker fails to comply with accepted proposal. Proposals for the Bonds should be delivered to Northland Securities, Inc. and addressed to: -5-