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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: $4,500,000 General Obligation Improvement Bonds, Series 14
<br />
<br />For the ~ords pf this IS$~~, in accordance with the terms and conditions as set forth in the Official Statement, we offer a price of
<br />$ Lf I :i. '-t~. 00 0 ~L~(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 />1989 $150,000 q:z:il;' 0/0 1996 $290,000 (,,00 0/0
<br />1990 175,000 ...r. {; 0 0/0 1997 320,000 ~/Z-d %
<br />1991 190,000 J~ ~O % 1998 340,000 (p, \.f() %
<br />1992 190,000 ...{: <+ V 0/0 1999 350,000 (p .Cto 0/0
<br />1993 220,000 .J": (y () 0/0 2000 400,000 1.,;,70 0/0
<br />1994 240,000 -J~7J % 2001 420,000 ~,~ %
<br />1995 260,000 -r: '1 () 0/0 2002 460,000 1tJ,'10 %
<br /> 2003 495,000 7.00 "/0
<br />
<br />Computation of True Interest Cost
<br />(To be completed by the Bidder)
<br />
<br />Discount $.,(lf cJOCi o~
<br />
<br />Total Coupon Interest $ ~ I 173 J 1 (p 0 c ~
<br />
<br />True Interest Cost (TIC)
<br />
<br />'" Total Dollar Interest Cost
<br />~.L,~~Lf3 %
<br />
<br />----....---------
<br />
<br />$ t=. i_ L ',;~3
<br />.;<,~Lf7,'7~6
<br />
<br />OC
<br />-
<br />
<br />This offer is for prompt acceptance or rejection and is conditional upon delivery of the said bonds.
<br />
<br />I., 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 />
<br />Respectfully submitted
<br />
<br />FIRST B~ NATIONAL ASSOCIATION, MINNEAPOLIS
<br />
<br />I
<br />
<br />\ccount Members
<br />
<br />
<br />. . . . . ~.t; . R f.~ j...c, ~.1; . . . . . . . . . . . . . .
<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 />,uch an acceptance.
<br />
<br />James F. Andre, City Manager
<br />
<br />ne Sale. Sealed bids forthe Sonds will be opened by the City Manage' or designee on Wednesday. February 17, 1988 at 12:00 Noon, central Time, at tile City Hall. 2660 Civic
<br />: 3nter Drive, Aosevllle. 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 />)etaill of t~" Bonds. The Bonds will be issued using a Global Book Entry System, One Global Certificate representing the aggregate principal amount of the Bonds maturing in
<br />.ach year (tlld "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 T,ust Company,
<br />:r1e "Deposltorv"). a Securities and ExChange CommiSSion (the "SEe") registered depository. an Illinois T,ust Company, a member 01 the Federal Reserve System and a "clearing'
<br />;orporatlon Within the meaning of the Illinois Unifo,m Commercial COde. The Bonds will be dated March 1, 1988 and will bear interest payable on March 1 and September 1 of each
<br />"la,. commencing September 1, 1988.
<br />
<br />~inlmum Bid Ind Good Faith Depolit. A sealed bid for not less than $4,411. 764.71. and accrued inte,est on the total principal amount of the Bonds shall be filed with tile
<br />~derslgned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashie"s check in the amount of $45,000 payable to the order of
<br />-~ CIty. shall have been filed WIth the unde,signed. 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 />amages In the event the purchase' fails to comply with the accepted bid. The City will depoSllthe check of the purchaser. the amount of which w1I' be deducted al settlement. No
<br />,0 shall be wlthd,awn atter the t.me set for opening bids. unless the meeting of the City scheduled for consideration of the bids is adjourned. recessed, or continued to anotller
<br />"Ie Without award of the Bonds having been made.
<br />
<br />ype of Bid. Rates olfe,ed by Bidde,s shall be In integral multiples of 5/100 or 118 of 1%. No rate for any maturity shall be mo,e than 1% lower than any prior rate. Bonds of the
<br />,me maturity shall bear a single ,ate f,om the date of the Bonds to the date of matu'ity. No interest rate on any maturity may exceed the .nterest rate of any subSeQuent maturo~.
<br />
<br />",a,d. The Bonds will be awa,ded to the Bidde, offering the lowest true interest cost. True Interest cost Shall be determined for each bid by doubiing the semiannual interest rate
<br />:mpounded semI-annually necessarv to discount the debt service payments from Ma,ch 1, 1988 to the p,ice bid. The City's computation of the true Interest cost of each bid, in
<br />:co,dance WIth customary p,acllces will be controlling.
<br />
<br />'e City will reserve the right to; (i) waive non-substantive info,malities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids witllout
<br /> cause,
<br />,d (ii.) reject any bid which the City determines to have failed 10 comply with the terms herein.
<br />
<br />.OS DUE: Wednesday. February 17. 1988 at 12:00 Noon C.S.T.
<br />At Office at City Manager. 2660 Civic Center Dr.
<br />Rosevtlle, 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 />:rtner information may be obtain"..... ~""l,......... ....ffir':"'. t',.", ~i~;' <:in4i",..tIl r\'.'cto" .P1't 490..221".
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