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~ ~ .! THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: TERMS OF PROPOSAL $1,360,000 CITY OF NEW BRIGHTON, MINNESOTA GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2003B (BOOK ENTRY ONLY) Proposals for the Certificates will be received on Tuesday, October 28, 2003, until 11 :00 AM., Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award of the Certificates will be by the City Council at 7:30 P.M., Central Time, of the same day. SUBMISSION OF PROPOSALS Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the time of sale specified above. All bidders are advised that each Proposal shall be deemed to constitute a contract between the bidder and the City to purchase the Certificates regardless in which the manner of the Proposal is submitted. DETAILS OF THE CERTIFICATES The Certificates will be dated November 1, 2003, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing February 1, 2004. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Certificates will mature February 1 in the years and amounts as follows: 2004 $455,000 2005 $450,000 2006 $455,000