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<br />of the Ci ty or its agents, the Purchaser shall be liable to the <br />City for any loss suffered by the City by reason of the Purchaser's <br />non-compliance with said terms for payment. The successful bidder, <br />as a condi t ion of deli very of the Bonds, shall be requi red to <br />deposi t the Global Certif icates wi th the Deposi tory, which shall <br />deposit the Global Certificates at the main office of the Fourth <br />U.S. Federal Reserve District Bank for safekeeping. <br /> <br />Legal Opinion and Transcript. Delivery of the Bonds will be <br />subject to receipt by the Purchaser of an approving legal opinion <br />of Briggs and Morgan, Professional Association, of Saint Paul <br />and Minneapolis, Minnesota, which opinion will be attached to <br />the Global Certificates, and of customary closing papers, including <br />a no-litigation certificate. At settlement the Purchaser will <br />be furnished with a certificate signed by appropriate officers <br />of the Ci ty to the effect that the Official Statement did not <br />as of the date of the Official Statement, and does not as of <br />the date of settlement, contain any untrue statement of a material <br />fact or omit to state a material fact necessary in order to make <br />the statements therein, in light of the circumstances under which <br />they were made, not misleading. <br /> <br />OFFICIAL STATEMENT <br /> <br />Underwriters may obtain a copy of the Official Statement by request <br />to the Undersigned pr ior to the bid opening. The Purchaser will <br />be provided with 25 copies of the Official Statement. <br /> <br />Dated January 25, 1988 <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />/s/ James F. Andre <br />City Manager <br />