Laserfiche WebLink
<br />directed to retain the deposit of said bidder and to forthwith <br />return the good faith checks or drafts to the unsuccessful <br />bidders. The bonds shall be payable as to principal and <br />interest at ~ Pi.nIt .HIltiGRal ~ 9"1~t'M tr st ~~lNN <br />or any successor pay~ng agen u y appo~n e~ y tne .~~y. <br /> <br />2. The $5,125,000 negotiable coupon general obliga- <br />tion bonds of the City shall be dated June 1, 1983 and shall be <br />issued forthwith. The bonds shall be 1025 in number and <br />numbered from 1 to 1025, both inclusive, in the denomination of <br />$5,000 each. The bonds shall mature serially, lowest numbers <br />first, on June 1 in -the amounts and years as follows: <br /> <br />$225,000 in the year 198~i and _ <br />$350,000 in each of the years 1985 to 1998. <br /> <br />All dates are inclusive. <br /> <br />3. The bonds shall provide funds to refund, in part, <br />the outstanding Prior Bonds on October 1, 1983 at a price of <br />par and accrued interest and to construct various improvements <br />in the City. The total cost of the improvements, which shall <br />include all costs enumerated in Minnesota Statutes, Section <br />475.65, is estimated to be at least equal to the amount of the <br />bonds herein authorized. Work on the improvements shall <br />proceed with due diligence to completion. <br /> <br />4. The bonds shall mature in the years and bear the <br />serial numbers set forth below, and shall bear interest payable <br />December 1, 1983 and semiannually thereafter on June 1 and <br />December 1 of each year at the respective rates per annum set <br />opposite the maturity years and serial numbers: <br /> <br />Maturity Years <br /> <br />Serial Numbers <br /> <br />Interest Rate <br /> <br />1984 <br />1985 <br />1986 <br />1987 <br />1988 <br />1989 <br />1990 <br />1991 <br />1992 <br />1993 <br />1994 <br />1995 <br />1996 <br />1997 <br />1998 <br /> <br />1- 45 <br />46- 115 <br />1l6- l85 <br />186- 255 <br />256- 325 <br />326- 395 <br />396- 465 <br />466- 535 <br />536- 605 <br />606- 675 <br />676- 745 <br />746- 815 <br />816- 885 <br />886- 955 <br />956-1025 <br /> <br />5.50\ <br />6.00' <br />6.50\ <br />6.75' <br />7.00\ <br />7.25' <br />7.50~ <br />7.75' <br />8.00i <br />8.20% <br />8.40\ <br />8.60' <br />8.80t <br />9.00% <br />9.00' <br />