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<br />, " <br /> <br />BOOK ENTRY SYSTEM <br /> <br />The Certificates will be issued by means of a book entry system with no physical distribution of <br />Certificates made to the public. The Certificates will be issued in fully registered form and one <br />Certificate, representing the aggregate principal amount of the Certificates maturing in each <br />year, will be registered in the name of Cede & Co. as nominee of The Depository Trust <br />Company ("DTC"), New York, New York, which will act as securities depository of the <br />Certificates. Individual purchases of the Certificates may be made in the principal amount of <br />$5,000 or any multiple thereof of a single maturity through book entries made on the books and <br />records of DTC and its participants. Principal and interest are payable by the registrar to DTC <br />or its nominee as registered owner of the Certificates. Transfer of principal and interest <br />payments to participants of DTC will be the responsibility of DTC; transfer of principal and <br />interest payments to beneficial owners by participants will be the responsibility of such <br />participants and other nominees of beneficial owners. The purchaser, as a condition of delivery <br />of the Certificates, will be required to deposit the Certificates with DTC. <br /> <br />REGISTRAR <br /> <br />The City will name the registrar that shall be subject to applicable SEC regulations. The City will <br />pay for the services of the registrar. <br /> <br />OPTIONAL REDEMPTION <br /> <br />The Certificates will not be subject to payment in advance of their respective stated maturity <br />dates. <br /> <br />SECURITY AND PURPOSE <br /> <br />The Certificates will be general obligations of the City for which the City will pledge its full faith <br />and credit and power to levy direct general ad valorem taxes. The proceeds will be used to <br />finance the purchase of equipment for City purposes. <br /> <br />TYPE OF PROPOSALS <br /> <br />Proposals shall be for not less than $1,349,120 and accrued interest on the total principal <br />amount of the Certificates. Proposals shall be accompanied by a Good Faith Deposit <br />("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount <br />of $13,600, payable to the order of the City. If a check is used, it must accompany the proposal. <br />If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such <br />a bond in the State of Minnesota, and preapproved by the City. Such bond must be submitted <br />to Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond <br />must identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If <br />the Certificates are awarded to an underwriter using a Financial Surety Bond, then that <br />purchaser is required to submit its Deposit to Springsted Incorporated in the form of a certified <br />or cashier's check or wire transfer as instructed by Springsted Incorporated not later than <br />3:30 P.M.. Central Time, on the next business day following the award. If such Deposit is not <br />received by that time, the Financial Surety Bond may be drawn by the City to satisfy the Deposit <br /> <br />SJB,237650vl <br />NE136-188 <br />