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3. '!he improvement bonds shall be payable at any suitable bank or trust company designated by the purchaser and the reasonable charges of the paying agent shall be paid by the Village. The Clerk is hereby instructed to advertise for bids for the purchase of said bonds. Said advertisement shall be published once in the Rose Tribune and in Commerical West. The bids shall be received and opened on May h, 1960 at 7:30 P.M. The Council reserves the right to reject any or all bids and to readvertise if a better price can be ot>tained thereby, and to waive any informali ty in any bid and to adjourn the sale if deemed necessary. Said published notice of the sale shall be at least ten days prior to the date of sale. Said notice shall state that the Village will fUrnish the printed bonds and approving legal opinion of Dorsey, Owen, Barber, Marquart and lrJindhorst and B. H. Loftsgaarden, Village Attorney, without expense to the Purchaser, and delivery will be made within 30 days after the date of sale. Said notice shall also recite a good faith check of not less than two percent of the principal amount of said bonds. Said notice of sale shall be in substantially the following form: NOTICE OF SALE $1,000,000 SANITARY SffiiER II1PRO'~ENT BONDS SERIES ~ VILLAGE OF ROSEVILLE' RAMSEY COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that the Council of the Village of Roseville, Minnesota, will meet in the Council Chambers in the Village Hall in said Village at 7:30 P.M. on Wednesday, the 4th day of May, 1960, to receive, open and consider sealed bids for and award the sale of its negotiable coupon general obligation Sanitary Sewer Improvement No. 3 pursuant to the provisions, Series G, in the principal amount of 11,000,000 to be issued to finance a portion of the cost of Sanitary Sewer Improvement No.3 pursuant to the provisions and under the authority of Minnesota Statutes 1957. Chapter 429 as amended. Said bonds will be dated June 1, 1900, will be in the denomination of $1,000.00 each; will bear interest at ~ rate or rates to be designated by the successful bidder in integral multiples of 1/4 or 1/10 of 1% per annum payable June 1, 1961 and semi-annually thereafter on December 1 and June 1 of each year and will mature serially on June 1 in the years and amounts as follows: $50,000 1962 - 1981 The bonds maturing in the years 1962 throiigh 1971 will not be subject to redemption prior to maturity, but the remaining bonds (1972-1981) wi1leach be subject to redemption at the option of the Village on June 1,1965, and any interest payment date thereafter, and at a price of par and accrued interest plus a premium of $20.00 for each bond prepaid on or before June 1, 1970, and $10.00 for each bond prepaid thereafter but on or before June 1, 1975, after which date all remaining bonds will be prepayab1e without premium. Prepayment, if exercised, will be made in inverse order of serial numbers of the then outstanding prepayable bonds bearing the highest interest rate. Principal and interest will be made payable at such banking institution in the United States named by purchaser. The Viilage will furnish, without cost to the purchaser and within 30 days after date of sale, the printed and executed bonds and approving legal opinion of Messrs. Dorsey, Owen, Barber, Marguart and \vindhorst of Minneapolis, Minnesota, and B. H. Loftsgaarden, Village Attorney, together with the cus~mary non-litigation certificate.