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CC_Minutes_2004_0209
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CC_Minutes_2004_0209
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7/17/2007 9:27:09 AM
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7/13/2005 4:13:53 PM
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Roseville City Council
Document Type
Council Minutes
Meeting Date
2/9/2004
Meeting Type
Regular
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<br />THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS <br />ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: <br /> <br />TERMS OF PROPOSAL <br /> <br />$1,760,000* <br />CITY OF ROSEVILLE, MINNESOTA <br />GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2004A <br /> <br />(BOOK ENTRY ONLY) <br /> <br />Proposals for the Bonds will be received on Monday, March 8, 2004, until 10:00 A.M., Central <br />Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, <br />Minnesota, after which time they will be opened and tabulated. Consideration for award of the <br />Bonds will be by the City Council at 6:00 P.M., Central Time, of the same day. <br /> <br />SUBMISSION OF PROPOSALS <br /> <br />Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. <br />Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the <br />time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal <br />price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the <br />submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach <br />Springsted prior to the time of sale specified above. All bidders are advised that each Proposal <br />shall be deemed to constitute a contract between the bidder and the City to purchase the Bonds <br />regardless of the manner in which the Proposal is submitted. <br /> <br />DETAILS OF THE BONDS <br /> <br />The Bonds will be dated April 1, 2004, as the date of original issue, and will bear interest <br />payable on March 1 and September 1 of each year, commencing September 1, 2004. Interest <br />will be computed on the basis of a 360-day year of twelve 30-day months. <br /> <br />The Bonds will mature March 1 in the years and amounts as follows: <br /> <br />2005 $205,000 <br />2006 $205,000 <br /> <br />2007 $210,000 <br />2008 $215,000 <br /> <br />2009 $225,000 <br />2010 $225,000 <br /> <br />2011 $235,000 <br />2012 $240,000 <br /> <br />The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal <br />amount of the Bonds offered for sale. Any such increase or reduction will be in a total amount not to exceed <br />unlimited and will be made in multiples of $5, 000 in any of the maturities. In the event the principal amount of the <br />Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be <br />increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is <br />increased or reduced. <br /> <br />Proposals for the Bonds may contain a maturity schedule providing for a combination of serial <br />bonds and term bonds. All term bonds shall be subject to mandatory sinking fund redemption <br />and must conform to the maturity schedule set forth above at a price of par plus accrued interest <br />to the date of redemption. In order to designate term bonds, the proposal must specify "Years <br />of Term Maturities" in the spaces provided on the Proposal Form. <br /> <br />- 1 - <br />
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