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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; $4,500,000 General Obligation Improvement Bonds, Series 14
<br />
<br />For the Bonds of this Issue, in accordance with the terms and conditions as set forth in the Official Statement, we offer a price of
<br />$ 4.430,250.00 (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 />Maturity Coupon Maturity Coupon
<br />Year Amount Rate Year Amount Rate
<br /> '-
<br />1989 $150,000 4.80 0/0 1996 $290,000 6.00 %
<br />1990 175,000 5.0~% 1997 320,000 6.10 0/0
<br />1991 190,000 5. io % 1998 340,000 6.25 %
<br />1992 190,000 5.40 % 1999 350,000 6.40 0/0
<br />1993 220,000 5.60 0/0 2000 400,000 6.60 0/0
<br />1994 240,000 5.75 % 2001 420,000 n 70 %
<br />1995 260,000 5.90 0/0 2002 460,000 6.80 0/0
<br /> 2003 495,000 6.90 0/0
<br /> Computation of True Interest Cost
<br /> (To be completed by the Bidder)
<br /> Discount $ 69,750.00
<br /> Total Coupon Interest $ ?, 7')1, RO ') 00
<br /> -------...------
<br /> Total Dollar Interest Cost $ 2,823,555.00
<br />
<br />True Interest Cost (TIC) 6. 6275 %
<br />
<br />ihis offer is for prompt acceptance or rejection and is conditional upon delivery of the said bonds.
<br />
<br />'n 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 />s a certified or cashier's check in the amount of $45,000. If our offer is not accepted, said check is to be promptly returned to us.
<br />Respectfully submitted
<br />ALLISON-WILLIAMS COMPk\lY
<br />
<br />~ccount Members
<br />
<br />see reverse side
<br />
<br />
<br />-he foregoing offer is hereby accepted by the Issuer on the date of th
<br />;uch an acceptance.
<br />
<br />James F. Andre, City Manager
<br />
<br />'''e Safe. Sealed bids for the Bonds willbe opened by the City Manager or designee on Wednesday, February 17, 1988 at 12:00 Noon, Central Time. at the City Hall, 2660 Civic
<br />'Oler Drive, Roseville, Minnesota. Conslde,alron for award of the Bonds will be by the City Council at 5:00 p.m., Cent,al Time, of the same day.
<br />
<br />~teil. of the Bonds. The Bonds will be issued using a Global Book Entry$ystem, One Global Certificate rep,esenting the aggregate principal amount of the Bonds maturing in
<br />Ich year (the "Global Certificates") will be issued and fully registered as to principal and interest in the name of Kray & Co. as nominee or the Midwest Securities Trust COmpanx
<br />-e "DepOSitory"), a Secu,ities and Exchange Commission (the "SEC") ,egistered Clepository. an Illinois Trust Company. a member of the Federal Reserve System anCl a "clearing'
<br />orpo,atton within the meaning of the Illinois Unirorm Commercial Code. The Bonds will be dated March 1. 1988 and will bear interest payable on March 1 anCl September 1 of each
<br />'ar. commencing September 1. 1988.
<br />
<br />';nimum Bid and Good Faith Deposit. 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 />'dersigned prio, to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $45.000 payable to the order of
<br />" City, shall have been filed with the undersigned. No bid Will be considered. if said Check has not been filed. The check of the Purchase' will be retained by the City as liqUidated
<br />,illages in the event the purchaser falls to comply with the accepted bid. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement. No
<br />j shall be Withdrawn af1er the time set for opemng bids. unless the meeting of the City scheduled for consideration of the bids is adjourned. recessed. or continued to another
<br />lte without award of the Bonds haVing been made.
<br />
<br />'pe of Bid. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of 1%. No rate fo, any maturity shall be mo,e than 1% lowe, than any prior 'ate. Bonds of the
<br />,:ne maturity shall bear a single rate from the date of the Bonds fa the date of matu,ity. No inte,est rate on any maturity may exceed the interest rate of any subsequent maturity.
<br />
<br />".,d. The Bonds will be awarded to the Bidder offering the lowest true Interest cost. True interest cost shall be determined for each bid by doubling the semiannual interest rate
<br />mpounded semi-annually necessary to discount the debt service payments from Ma,ch 1. 1988 to the price bid. The City.s computation of the true interest cost of each bid, in
<br />,~o'dance With customary practices Will be controlling. .
<br />
<br />~ City will reserve the right to: (il waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of tha Bonds, (ii) reject all bids without
<br /> cause
<br />ct (IIi) reject any bid which the City determines to have failed to comply With the terms herein. '
<br />
<br />)$ DUE: Wednesday, February 17, 1988 at 12:00 Noon C.S.T.
<br />At Office of City Manager, 2660 Civic Cente, Dr.
<br />Rosevllle, Minnesota 55113 (612) 490-2201
<br />
<br />(ARO: Wednesday, February 17,1988 at 5;00 P.M. C.S.T.
<br />City Council Chambers
<br />
<br />.ther info,mation may "'qobtained from the Offi~' of the City Finance Oi-ector {61~.
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