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<br />RA TE S : <br /> <br />AWARD: <br /> <br />DATED: <br /> <br />All rates and combination of rates must <br />be in integral multiples of 1/20th of <br />1% and may not exceed 7% per annum. <br />Additional interest coupons may not be <br />used. No limitation is placed on the <br />number of rates which may be used. All <br />bonds of a single maturity shall bear a <br />uniform basic rate of interest from date <br />of issue until paid and the basic rate <br />of interest payable on each bond of the <br />issue must not exceed the basic rate of <br />interest payable on other bonds of the <br />same or subsequent maturities. <br /> <br />Award will be made on the basis of lowest <br />dollar interest cost, determined by <br />addition of any discount to and deduction <br />of any premium from the total interest on <br />all bonds from their date to their stated <br />maturity. The net effective average rate <br />of the issue may not exceed 7% per annum. <br /> <br />The issuer reserves the right to reject <br />any and all bids, to waive informalities, <br />and to adjourn the sale. <br /> <br />May 19, 1975. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />James F. Andre <br />City Manager <br /> <br />Additional information may be obtained from: <br /> <br />PETERSON & POPOVICH <br />City Bond Consultants <br />314 Minnesota Building <br />St. Paul, Minnesota 55101 <br />Phone: 612-222-5515 <br />