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OFFICIAL TERMS OF OFFERING $8,640,000· CITY OF ROSEVILLE, MINNESOTA GENERAL OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 1994 (Global Book Entry System) THE SALE Sealed bids for the Bonds will be opened by the City Manager or designee on Monday, January 24, 1994 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 10, 1994 and will bear interest payable on March 1 and September 1 of each year, commencing September 1, 1994. The Bonds will mature March 1 in the amounts and years as follows: Amount Year Amount Year $360,000 1995 $ 995,000 2001 585,000 1996 1 ,050,000 2002 730,000 1997 1 ,110,000 2003 870,000 1998 645,000 2004 890,000 1999 320,000 2005 960,000 2000 125,000 2006 . Optional Redemption. The City may elect on March 1, 2000 and on any date thereafter to redeem and prepay Bonds due on or after March 1, 2001. Redemption may be in whole or in part of the Bonds remaining 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. DJ1t61265 JUl200-13 3