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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 />S tj :J (..('1 ("'')/ r) (Note: This amount may not be less than $4,411,764.71) and accrued interest to the date of delivery.
<br />/ I
<br />
<br />SALE DATE: February 17, 1988
<br />
<br />Maturity Coupon Maturity Coupon
<br />Year Amount Rate Year Amount Rate
<br />1989 $150,000 1.-/, / ) % 1996 $290,000 (."LC1 %
<br />1990 175,000 S, " '-'l 0/0 1997 320,000 I, ' C., 0/0
<br />1991 190,000 f ,7. f- % 1998 340,000 G, L( " %
<br />1992 190,000 S. S-,\ % 1999 350,000 ~; ')-.) 0/0
<br />1993 220,000 5,7 ') % 2000 400,000 I~, 1'1, i' 0/0
<br />1994 240,000 Sf 9= % 2001 420,000 (,. '9 '-.:) 0/0
<br />1995 260,000 (" 10 0/0 2002 460.000 / . C'/ ) 0/0
<br />-'
<br /> 2003 495,000 ,/, ") ) 0/0
<br /> Computation of True Interest Cost
<br /> (To be completed by the Bidder)
<br /> Discount $:;;~ l//, 9.:,0 '.]
<br /> Total Coupon Interest $ 2. -i-,'o))- /" ) , v.)
<br /> ---.----...-----
<br />
<br />True Interest Cost (TIC)
<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 $45,000. If our offer is not accepted, said check is to be promptly returned to us.
<br />
<br />Respectfully submitted
<br />Griffin, Kubik. Stephens & Thompson. Inc.
<br />
<br />~ Accou~t anager
<br />:riffin. Kubik, Stephens & Thompson. Inc.) lU0: C
<br />,lunt, Ellis and Loewi. Inc.) Joint By ~_ _m./ - ~bL-/ ,
<br />lay torr . Brawn:' and" kss'oc'ia.te's J' .Man'ag.ers'...'.............. S.t~.Y~.IJ.. .G.... l3xP.wn. ~. s.en~px..V;1.Ce. P.res;I.deo.t...........
<br />
<br />The foregoing offer is hereby accepted by the Issuer on the date of the offer by its following officers duly authorized and empowered to make
<br />such an acceptance.
<br />
<br />Total Dollar Interest Cost
<br />r.;. G ~(/ I, "//%
<br />
<br />$~) R \' ~- "'-5S .u~
<br />( ~
<br />
<br />Account Members
<br />
<br />James F. Andre, City Manager
<br />
<br />The Sale. Seated bids forthe 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 Civit:
<br />Center Drive, Rosevllle, Minnesota. ConSideration for award of the Bonds Will be by the City Council at 5:00 p.m., Central Time, of the salTle day.
<br />
<br />Details of the Bonds. The Bonds will be issued using a Global, Book Entry System, One Global Certificate ,epresenting the aggregate pnncipal amount of the Bonds maturing in
<br />~ach year (the "Global Certificates") will be issued and fully ,eglste,ed as to pnnclpal and inte,est in the name of Kray & Co. as nominee or the Midwest SeCUrities Trust Companr.
<br />(the "Depository"), a Securities and Exchange Commission (the "SEC") 'egistered depository, an Illinois Trust Company. a member of the Federal Reserve System and a "clearing'
<br />Corporation within the meaning of the Illinois Uniform Commercial Code. The Bonds will be dated March I, 1988 and will bea, interest payable on March 1 and September 1 of each
<br />yea,. commencing September 1, 1988.
<br />
<br />Minimum 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 />undersigned prior to the time set for the opening of bids. Also prior to the time set fa, bid opening, a certified 0' cashier's check in the amount of $45.000 payable to the order of
<br />;he City. shall have been filed WIth the undersigned. No bid will be considered. if said Check has not been filed. The check of the Pu,chase, will be retained by the City as liquidated
<br />,~amages In the event the purchase, fails to compiy With the accepted bid. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement. No
<br />~,d shall be Withdrawn afte, the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjOu,ned, recessed, or continued to another
<br />,jate Without award of the Bonds having been made.
<br />
<br />Type of Bld~ Rates offered by Bidde,s shall be in integral multiples of 5/100 or 1/8 of 1%, No rate for any maturity shall be more than 1% lower than any prior rate. Bonds of the
<br />same maturity shall bear a Single rate from the date of the Bonds to the date of matunty. No interest rate on any maturity may exceed the interest rate of any subsequent matu.rlty.
<br />
<br />Award. 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 />:ompounded semi-annually necessary to discount the debt service payments from March 1, 1988 to the price bid. The City's computation of the true Inte,est cost of each bid, in
<br />i1cco,dance 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 relating to the receipt of bids and award of the Bonds, (ii) reiect all bids without
<br /> cause
<br />3nd (IIi) reject any bid which the City determines to have failed to comply With the terms herein. '
<br />
<br />91DS DUE: Wednesday. February 17, 1988 at 12:00 Noon C.S.T.
<br />At Office of City Manager. 2660 Civic Center Or.
<br />Roseville, 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 />~ ',o..,inf- 1 ..
<br />
<br />, ifL . (" colli ~';'Y Finance Directc,r (612) 490-22'iO.
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