2004-04-28 WS & CC Meeting - Laserfiche WebLink

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OFFICIAL TERMS OFBOND SALE $2,200,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2004B CITY OF CENTERVILLE, ANOKA COUNTY, MINNESOTA (Book Entry Only) NOTICE IS HEREBY GIVEN that these bonds will be offered for sale according to the following terms: TIME AND PLACE: Proposals will be opened by the City Clerk, or designee, on Wednesday, May 26, 2004, at 11:00 A.M., Central Time, at the offices of Northland, 45 South Seventh Street, Suite 2500, Minneapolis, Minnesota 55402. Consideration of the proposals for award of the sale will be by the City Council at its meeting in the Centerville City Hall beginning at 6:30 P.M., on the same day. SUBMISSION OF PROPOSALS: Sealed bids may be: a) subruitted to the office ofNortWand Securities, b) faxed to NortWand Securities at (612) 851-5917, c) for proposals subruitted prior to the sale, the final price and coupon rates may be subruitted to NortWand Securities by telephone at (612) 851-5900, or d) bids may be subruitted electrouically. Notice is hereby given that electronic proposals will be received via PARITY, in the manner described below, until II :00 A.M., local time on May 26, 2004. Bids may be submitted electronically via PARITY pursuant to this Notice until II :00 A.M., local time, but no bid will be received after the time for receiving bids specified above. To the extent any instructions or directions set forth in PARITY conflict with this Notice, the terms of this Notice shall control. For further information about PARITY, potential bidders may contact NortWand Securities, Inc. or Dalcomp at 40 West 23'" Stree~ 51b floor, New York, NY 10010, telephone (212) 404-8102. Neither the City of Centerville nor NortWand Securities, Inc. assumes any liability if there is a malfunction of PARITY. All bidders are advised that each Proposal shall be deemed to constitute a contract between the bidder and the City to purchase the Bonds regardless of the manner of the proposal subruitted. BOOK ENTRY SYSTEM: The bonds will be issued by means of a book entry system with no physical distribution of bond certificates made to the public. The bonds will be issued in fully registered form and one bond certificate, representing the aggregate principal amount of the bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of Depository Trust Company ("DTC"), New York, New York, which will act as securities depository of the bonds. Individual purchases of the bonds may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the Issuer through U.S. Bank National Association, in St. Paul, Minnesota (the "Registrar") to OTC or its nominee as registered owner of the bonds. Transfer of principal and interest payments to participants of OTC will be the responsibility of orc; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The successful proposal maker, as a condition of delivery of the bonds, will -4 -