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d ',' II , I Ii !I JI ,I \i I. il 'I II ,I 1; H ii The City will name the registrar that shall be subject to applicable SEC regulations. I City will pay for the services of the registrar. I REGISTRAR The L ;! i' 'I II' The City may elect on February 1, 2012, and on any day I thereafter, to prepay Bonds due on or after February 1, 2013. Redemption may be in !i whole or in part and if in part at the option of the City and in such manner as the City j shall determine. If less than all Bonds of a maturity are called for redemption, the City I will notify DTC of the particular amount of such maturity to be prepaid. DTC will I determine by lot the amount of each participant's interest in such maturity to be redeemed : and each participant will then select by lot the beneficial ownership interests in such I maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest. i I 11 'I , 1 The Bonds will be general obligations of the City for which the City will pledge its full II faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax increment revenues from various City tax increment financing districts. ! The proceeds will be used to finance land acquisition, demolition and remediation efforts rithin the City's Northwest Quadrant redevelopment area. II TYPE OF PROPOSALS Ii i!proposa1s shall be for not less than $6,766,650 and accrued interest on the total principal Ilamount of the Bonds. Proposals shall be accompanied by a Good Faith Deposit 1'("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $68,350, payable to the order of the City. If a check is used, it must I accompany the proposal. If a Financial Surety Bond is used, it must be from an insurance 'I'icompany licensed to issue such a bond in the State of Minnesota, and pre-approved by I the City. Such bond must be submitted to Springsted Incorporated prior to the opening of ! the proposals. The Financial Surety Bond must identify each underwriter whose Deposit I ' I is guaranteed by such Financial Surety Bond. If the Bonds are awarded to an underwriter ! using a Financial Surety Bond, then that purchaser is required to submit its Deposit to I Springsted Incorporated in the form of a certified or cashier's check or wire transfer as jjnstructed by Springsted Incorporated not later than 3:30 P.M., Central Time, on the next ilbusiness day following the award. If such Deposit is not received by that time, the '1IFinancial Surety Bond may be drawn by the City to satisfy the Deposit requirement. The lDeposit received from the purchaser, the amount of which will be deducted at settlement ,Ijand no interest will accrue to the purchaser, will be deposited by the City. In the event ~he purchaser fails to comply with the accepted proposal, said amount will be retained by I the City. No proposal can be withdrawn or amended after the time set for receiving II roposals unless the meeting of the City scheduled for award of the Bonds is adjourned, I recessed, or continued to another date without award of the Bonds having been made. f' ates shall be in integral multiples of 5/100 or 1/8 of 1%. Rates must be in level or SJB~2519 . vI NE136.1 II ,I; OPTIONAL REDE~TION SECURITY AND PURPOSE