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OFFICIAL TERMS OF OFFERING $1,975,000 CITY OF ROSEVILLE, MINNESOTA GENERAL OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 1993 (Global Book Entry System) THE SALE Sealed bids for the Bonds will be opened by the City Manager or designee on Monday, January 25, 1993 at 12:00 Noon, Central Time, at the City Hall, 2660 Civic Center Drive, Roseville, Minnesota. Consideration for award of the Bonds will be by the City Council at 7: 30 p. m., Central Time, of the same day. THE BONDS Details of the 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 each year (the "Global Certificates") will be issued and fully registered as to principal and interest in the name of Kray & Co. , as nominee of the Midwest Securities Trust Company (the "Depository"), a Securities and Exchange Commission (the "SEC") registered depository, an Illinois trust company, a member of the Federal Reserve System and a "clearing corporation" within the meaning of the Illinois Uniform Commercial Code. The Bonds will be dated February 11, 1993 and will bear interest payable on March 1 and September 1 of each year, commencing September 1, 1993. The Bonds will mature March 1 in the amounts and years as follows: Amount Year Amount Year $190,000 1994 $215,000 1998 195,000 1995 225,000 1999 200,000 1996 235,000 2000 205,000 1997 250,000 2001 260,000 2002 Optional Redemption. The City may elect on March 1, 1999 and on any date thereafter to redeem and prepay Bonds due on or after March 1, 2000. Redemption may be in whole or in part of the Bonds remRining unpaid which have the latest maturity date will be prepaid first. If a maturity is prepaid only in part, prepaYments will be in integral multiples of $5,000 of principal within maturity by lot as selected by the Registrar. All such prepaYments shall be at a price of par plus accrued interest. Security and Purpose. The Bonds will be general obligations of the City for that maturity which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition, the City will pledge special assessments against property specially benefited by the improvements financed by the bonds. The proceeds will be used to refund the outstanding principal balance of certain general obligation improvement bonds of the City. . GLOBAL BOOK ENTRY SYSTEM Ownership of the Bonds. Purchases of Bonds by investors may be made through banks, brokers or dealers who are, or act through, participants (the DJl.66317 RS200-10 3