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<br />CITY OF ROSEVILLE, MINNESOTA
<br />
<br />OFFICIAL BID FORM
<br />
<br />TO: James F. Andre
<br />City Manager
<br />
<br />RE: $4,500,000 General Obligation Improvement Bonds, Series 14
<br />
<br />For the Bonds of this Issue, in accordance with the terms and conditions as set forth in the Official Statement, we offer a price of
<br />$ ~ ,/ J Cf, 1-( -;c;-, ;; ~ (Note: This amount may not be less than $4,411,764.71) and accrued interest to the date of delivery.
<br />
<br />SALE DATE: February 17, 1988
<br />
<br />Coupon
<br />Rate
<br />L(,~
<br />
<br />Maturity
<br />Year
<br />1996
<br />1997
<br />1998
<br />1999
<br />2000
<br />2001
<br />2002
<br />2003
<br />
<br />Maturity
<br />Year
<br />
<br />Coupon
<br />Rate
<br />(,,~ %
<br />f.,. ) ,"" %
<br />I" ~ %
<br />I.." (-I 'J %
<br />1,.), %
<br />.0: ,,/.., . \ 0/0
<br />1,.7., %
<br />I~. --" ",- 0/0
<br />
<br />Amount
<br />$150,000
<br />175,000
<br />190,000
<br />190,000
<br />220,000
<br />240,000
<br />260,000
<br />
<br />Amount
<br />$290,000
<br />320,000
<br />340,000
<br />350,000
<br />400,000
<br />420,000
<br />460,000
<br />495,000
<br />
<br />1989
<br />1990
<br />1991
<br />1992
<br />1993
<br />1994
<br />1995
<br />
<br />%
<br />
<br />5, Ii"
<br />
<br />0/0
<br />0/0
<br />%
<br />%
<br />0/0
<br />0/0
<br />
<br />5', l ~
<br />) , C/ ,)
<br />.:5r G ,)
<br />S. % oj
<br />(, , ~ (,>,
<br />
<br />Computation of True Interest Cost
<br />(To be completed by the Bidder)
<br />Discount $ 7C',04'(f /)-
<br />Total Coupon Interest ~ _~ '. Z _~ S _ :. ~7 j u
<br />
<br />$ ), ~ () j- 7",)). .2 r-
<br />/
<br />
<br />Total Dollar Interest Cost
<br />
<br />True Interest Cost (TIC) & . 59 %
<br />1'1/' '- f" -.$' t.
<br />This offer is for prompt acceptance or rejection and is conditional upon delivery of the said bonds.
<br />
<br />In making this offer, we accept all of the terms and conditions of the Official Terms of Offering. Attached hereto, as evidence of good faith,
<br />is a certified or cashier's check in the amount of $45,000. If our offer is not accepted, said check is to be promptly returned to us.
<br />
<br />Respectfully submitted
<br />
<br />
<br />Account Members
<br />
<br />By
<br />
<br />The foregoing offer is hereby accepted by the Issuer on the date of the offer by its following officers duly authorized and empowered to make
<br />such an acceptance.
<br />
<br />James F. Andre, City Manager
<br />
<br />The Sale. Sealed bids for the Bonds will be opened by the City Manager or designee on Wednesday. February 17, 1988 at 12:00 Noon, Cent,al Time, at the City Hall, 2660 Civic
<br />':enter Drive. Rosevllle, Minnesota. Consideration for award of the Bonds will be by the City CounCil at 5:00 p.m., Central Time, of the same day.
<br />
<br />Oetaila 01 the Bonds. The Bonds will be issued using a Global Book Entry System, One Global Certificate rep,esenting the agg,egate principal amount of the Bonds maturing in
<br />,Jach year (the "Global Certlticates") will be issued and fully registe,ed as to p,incipal and interest in the name of Kray & Co. as nominee or the Midwest Securities Trust Company,
<br />the "Deposltory"), a Secunlles and Exchange Commission (the "SEC") registered depository, an Illinois T,ust Company, a member of the Fede,al Reserve System and a "clearing'
<br />Co,poratlon Within the meaning of the Illinois Uniform Commercial Code. The Bonds will be dated March 1, 1988 and will bear interest payable on March 1 and September 1 of each
<br />Jear, commencing September 1, 1988.
<br />
<br />Minimum Bid and Good Faith Ceposit. A sealed bid for not less than $4.411,764.71, and accrued interest on the total principal amount of the Bonds shall be filed with the
<br />"nde,slgned p,io, to the time set fo, the opening of bids. Also pnor to the time set lor bid opening, a certified or cashier's check in the amount 01 $45,000 payable to the order 01
<br />'he City, shall have been tiled with the unde,signed. No bid will be considered, il said Check has not been filed. The checl< 01 the Pu,chaser will be retained by the City as liquidated
<br />damages in the event the purchase, fails to comply with the accepted bid. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement. No
<br />'Cld shall be withdrawn alter the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another
<br />jate without award of the Bonds haVing been made.
<br />
<br />Type 01 Bid. Rates offered by Bidders shall be in integral multiples of 51100 0' 118 of 1%. No rate for any maturity shall be more than 1% lower than any p,ior rate. Bonds of the
<br />same maturity shall bear a Single ,ate from the date of the Bonds to the date of matu,ity. No interest rate on any maturity may exceed the inte,est rate of any subsequent matur!ty.
<br />
<br />~ward. The Bonds will be awa,ded to the Bidder offering the lowest true interest cost. True interest cost shall be determined for each bid by doubling the semiannual interest rate
<br />:ompounded seml.annually necessary to discount the deot service payments from March 1, 1988 to the price bid. The City's computation of the true interest cost of each bid, in
<br />",ccordance With customary practices Will be controlling. ,
<br />
<br />The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters rslating to the receipt of bids and awerd of the Bonds, (ii) reject all bids without
<br /> cause,
<br />Jnd (III) reject any bid whIch the City dete,mlnes to have failed to comply WIth the terms herein.
<br />
<br />3105 DUE: WedneSday, February 17, 1986 at 12:00 Noon C.S.T.
<br />At Office of City Manager, 2660 Civic Center Dr.
<br />Rosevllle, Minnesota 55113 (612) 490-2201
<br />
<br />;.WARD: WedneSday, February 17, 1988 at 5:00 P.M. C.S.T.
<br />City Council ChamberS
<br />
<br />'er ir.. '),
<br />
<br />:- ..,j....~. (H ^ ,-_. -1 -:!t-; r:t.. .zi,CP Oi;,a"'~"! :51'2) :~30.~'2~C'.
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