|
<br />NOTICE OF SALE
<br />$900 ,000 GENERAL IMPROVEMENT BONDS
<br />SERIES 3
<br />VILLAGE OF ROSEVILLE, RAM3EY COUNTY, MINNESOTA
<br />
<br />NOrICE IS HEREBY GIVEN that the Council of the Village of Roseville,
<br />Minnesota, will meet at the Council Chambers of the Village Hall in said Village at
<br />5 :30 o'clock 91., Central Daylight Saving Time, on Thursday the 22ndday of
<br />June 1967, to receive, open and consider sealed bids for and award the sale of
<br />its negotiable coupon General Improvement Bonds, Series 3 in the principal amount of
<br />$900,000, for which the full faith and credit and taxing powers of the Village will
<br />be pledged, to be issued to pay expenses incurred and to be incurred in the con-
<br />struction of local improvements pursuant to the provisions and under the authority
<br />of Minnesota Statutes, Chapter 429. Said bonds will be dated July I, 1967, will
<br />bear interest at the rate or rates to be designated by the successful bidder in in-
<br />tegral multiples of 1/4 or 1/10 of 1% per annum, payable July 1, 1968, and semi-
<br />annually thereafter on January 1 and July 1 in each year, and will mature serially
<br />on July 1 in the years and amounts as follows: $40,000 in 1968, $45,000 in each of
<br />the years 1969 through 1976, and $50,000 in each of the years 1977 through 1986. The
<br />bonds maturing in the years 1978 through 1986 will be callable at the option of the
<br />Village on July 1, 1977, and any interest payment date thereafter at par and accrued
<br />interest. Callable bonds will be redeemed in inverse order of their serial numbers.
<br />
<br />Principal and interest will be made payable at a banking institution in
<br />the United States named by the purchaser. The bonds will be issued in denomination
<br />of $1,000 or $5,000 each, as desired by the purchaser. The purchaser is requested
<br />to advise the Village of the denomination and paying agent desired within 48 hours
<br />after the sale. The Village will furnish, without cost to the purchaser, and within
<br />30 days after the date of sale, the printed and executed bonds and the approving
<br />legal opinion of Messrs. Dorsey, Owen, Marquart, Windhorst & West, of Minneapolis,
<br />Minnesota, and Messrs. Peterson & Popovich, of St. Paul, Minnesota, together with a
<br />certificate stating that there is then no litigation threatened or pending affecting
<br />the validity of the bonds.
<br />
<br />Sealed bids marked "Bid for $900,000 Bonds" must be mailed or delivered to
<br />the undersigned Village Clerk and must be received at his office prior to the time
<br />of meeting. Oral auction bids will not be considered. Each bid must be uncondi-
<br />tional except as to legality and must be accompanied by a cashier's or certified
<br />check in the amount of $18,000 payable to the Village Treasurer, to be retained as
<br />liquidated damages in case the bid be accepted and the bidder shall fail to comply
<br />therewith. All bonds of a single maturity shall bear a uniform basic rate of inter-
<br />est from date of issue until paid and the basic rate of interest payable on each
<br />bond of the issue must not exceed the basic rate of interest p~able on other bonds
<br />of the same or subsequent maturities. Bidders ~ specify that all or any of the
<br />bonds shall bear interest at an additional rate, to be represented by a separate and
<br />detachable coupon, for a period expiring on July l, 1968, provided that the aggre-
<br />gate amount of interest represented by such coupon does not exceed $l8,OOO. The
<br />
<br />-2-
<br />
|