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

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owners. The successful 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 ORIGINAL ISSUE OF BONDS: June 1,2004 PURPOSE: For the purpose of providing money to finance public infrastructure improvements related to the City's 2004 Street and Utility Improvement Project. INTEREST PAYMENTS: February I, 2005, and semiannually thereafter on August I and February I to registered owners of the bonds appearing of record in the bond register as of the close of business on the fifteenth day (whether or not a business day) ofthe immediately preceding month. MATURITIES February I in each of the years and amounts as follows: Year Amount Year Amount 2006 2007-2008 2009 2010-2011 2012 2013 2014 $110,000 120,000 125,000 130,000 135,000 140,000 150,000 2015 2016 2017 2018 2019 2020 $155,000 160,000 170,000 175,000 185,000 195,000 All dates are inclusive. 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 subject to redemption and prepayment at the option of the Issuer on February I, 2011, and on any date thereafter at par. CUSIP NUMBERS: If the bonds qualifY for assigmnent 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 assigmnent 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 $2,161,500 and accrued interest on the principal sum of $2,200,000 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 -5-