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THE TY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS SSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLL WING BASIS: TERMS OF PROPOSAL $15,100,000* CITY OF NEW BRIGHTON, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2007B (BOOK ENTRY ONLY) Fropos s for the Bonds will be received on Tuesday, May 22, 2007 until 10:00 A.M., Central Time, t the offices of Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul, Minne ta, after which time they will be opened and tabulated. Consideration fox award of the Bonds 'll be by the City Council at 6:30 P.M., Central Time, of the same day. SUBMISSION OF PROPOSALS Spring ed will assume no liability for the inability of the bidder to reach Springsted prior to the time o sale specified above. All bidders are advised that each Proposal shall be deemed to constit e a contract between the bidder and the City to purchase the Bonds regardless of the manne in which the Proposal is submitted. (a) Se ed Biddin .Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Sp ' gsted. Signed Proposals, without final price ar coupons, may be submitted to Springsted prior t the time of sale. The bidder shall be responsible for submitting to Springsted the final Propo 1 price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the su fitted Proposal. OR (b) E ctronic, Bidding Notice is hereby given that electronic proposals will be received via PARI .For purposes of the electronic bidding process, the time as maintained by PARITY® shall nstitute the official time with respect to all Bids submitted to PARITY®. Each bidder shall solely responsible for making necessary arrangements to access PARITY® for purposes of sub fitting its electronic Bid in a timely manner and in compliance with the requirements of the T s of Proposal. Neither the City, its agents nor PARITY' shall have any duty or obliga ' n to undertake registration to bid for any prospective bidder or to provide or ensure electr 'c access to any qualified prospective bidder, and neither the City, its agents nor PARI ®shall be responsible for a bidder's failure to register to bid or for any failure in the grope Aeration of, or have any liability for any delays or interruptions of or any damages cause by the services of PARITY'. The City is using the services of PARITY® solely as a comm ication mechanism to conduct the electronic bidding for the Bonds, and PARITY® is not an age of the City.