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<br />CITY OF ROSEVILLE, MINNESOTA
<br />
<br />OFFICIAL BID FORM
<br />
<br />TO:
<br />
<br />SALE DATE: February 17, 1988
<br />
<br />James F. Andre
<br />City Manager
<br />
<br />RE: $4,500,000 General Obligation Improvement Bonds, Series 14
<br />
<br />For. the Bonds of this Issue, in accordance with the terms and conditions as set forth in the Official Statement, we offer. a price of
<br />$ ~ '''L?,CJ, ,?",S[).c() (Note: This amount may not be less than $4.411,764.71) and accrued Interest to the date of delivery.
<br />Maturity Coupon Maturity Coupon
<br />Year Amount Rate Year Amount Rate
<br />O/:~ % 1996 $290,000 b'~
<br />.s; 00 % 1997 320,000 b ,30
<br />S7 d,O % 1998 340.000 b' '10
<br />G'10 % 1999 350,000 0' ~o
<br />.~ I. 0 % 2000 400,000 h./;, () %
<br />5'- frO % 2001 420,000 ~. . 0 %
<br />b.oo % 2002 460,000 ' V %
<br />2003 495,000 ,d~' (j %
<br />
<br />1989
<br />1990
<br />1991
<br />1992
<br />1993
<br />1994
<br />1995
<br />
<br />$150,000
<br />175,000
<br />190,000
<br />190,000
<br />220,000
<br />240,000
<br />260,000
<br />
<br />%
<br />
<br />%
<br />
<br />0/0
<br />
<br />0/0
<br />
<br />Computation of True Interest Cost
<br />(To be completed by the Bidder)
<br />
<br />Discount $
<br />
<br />Total Coupon Interest $
<br />
<br />True Interest Cost (TIC)
<br />
<br />Total Dollar Interest Cost
<br />b, to YS?S- %
<br />
<br />$
<br />
<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 />Respectfully submitted
<br />
<br />Attached
<br />
<br />
<br />Account Members
<br />
<br />The foregoing offer is hereby accepted by the Issuer on the date of the 0 r by its following officers duly authorized and empowered to make
<br />such an acceptance.
<br />
<br />James F. Andre, City Manager
<br />
<br />;he Sale. Sealed bids for the Bonds will be 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 />Canter Drive, Roseville, Minnesota. Conside,atlon for award of ttle Bonds will be by the City Council at 5:00 p.m., C8ntral Time, of the same day.
<br />
<br />00t",i19 of the Bonds. The Bonds will be issued using a Global Book Entry System, One Global Certificate ,ep,esenting the agg,egate principal amount of the Bonds maturing in
<br />\lach 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 Company
<br />(tM "DepOSitory"), a Securities and Exchange CommIssion (the "SEC") registered depOSitory, an illinOIS Trust Company, a memDer of the Federal Reserve System and a "clearing'
<br />Corporation WithIn the meaning 01 the Illinois Uniform Commercial Code. The Bonds will be dated March 1, 1988 and Will bear interest payable on March 1 and SeptemDer 1 of each
<br />/ear, commencing September 1, 1988.
<br />
<br />Minimum Bid and Good Faith Daposit. A sealed bid for not less than $4,411, 764.71, and acc,ued interest on the total principal amount of the Bonds shall be filed with the
<br />'JnderSlgned prior 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 o,der of
<br />:r.e City, shall have been filed With the underSigned. No bid Will be considered, if said Check has not been filed. The check of the Purchaser Will be retained by the City as liQuidated
<br />damages In the event the purchaser fails to comply with the accepted bId. The City Will depOSIt tne check of the pu'chaser, the amount of which will be deducted at settlement. No
<br />bid shall be Withdrawn afte, the lime set for openIng bids, unless the meeting of the City scheduled for conSideration of the bids is adjourned. recessed, or continued to another
<br />.~ate without award of the Bonds having been made.
<br />
<br />Tvpe of Bid. Rates o!ie,ed by Bidde,s shall be in integral multiples of 51100 0,118 of 1%. No ,ate for any matu,ity shall be mo,e than 1% lower than any prior rate. Bonds of the
<br />"ame maturity shall bea, a single rate from the date of the Bonds to the date of maturity. No interest rate on any maturity may exceed the interest rate of any subsequent maturity.
<br />
<br />Aw",d. The Bonds will be awa,ded to the Bidder offe,ing the lowest t,ue interest cost. True interest cost shall be dete,mined for each bid by doubling the semiannual interest rate
<br />~ompounded semI-annually necessary to discount the debt service payments from Ma,ch 1, 1988 to tM price bid. The City's computation of the true interest cost of each bid, in
<br />3ccordance WIth customary practIces will be controlling.
<br />
<br />The City will reserve the ri,9ht to: (i) waive non-substantive informalities of any bid or of matters relating to the r8l:eipt of bids and award of the Bonds, (ii) reject all bids without
<br /> cause,
<br />:md (III) reject any Old whIch the City determines to have failed to comply With the terms herein.
<br />
<br />'3105 DUE: Wednesday, February 17, 1988 at 12:00 Noon C.S.T.
<br />At Office of City Manager, 2660 Civic Center Or.
<br />Ros8vllle, Minnesota 55113 (612) 490..2201
<br />
<br />:'WARD: '.'!~nesday. February 17, 1988 at 5:00 P.M. C.S.T.
<br />City Cf1uncil Chambers
<br />
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