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, ~ , . . NOTICE OF BOND SALE $600wOOO TEMPORARY IMPROVEMENT BONDS OF 1972 VILLAGE OF NEW BRIGHTON, MINNESOTA NOTICE is hereby given that the Village of New Brighton, Minnesota, will receive sealedb~ds at the Village Hall in said Village on Tuesday, March 28,1972, for the purchase of $600,000 Temporary Improvement Bonds of 1972. The Village Manager and the Village Clerk will receive and open the bids at 7:00 o'clock P.M. and the Village Council will meet at 8:00 o'clock P.M. to award the sale of the bonds. The bonds will be dated May 1, 1972, bear interest payable November 1, 1972 and semiannually thereafter on May land November 1 until maturity at the rate or rates designated by the successful bidder, and will mature on May 1, 1975, all bonds being subject to redemption at the option of the Village at any time on or after November 1, 1974 at par and accrued interest. Both princi- pal and interest shall be payable at any suitable bank designated by the purchaser within 48 hours after the award of sale of the bonds and the bonds will be in such denominations as may be specified by the purchaser. The bonds are being issued to finance the cost of local street, water and sewer improvements. The Village will furnish the bonds and approving legal opinion of Messrs. Faegre & Benson,. Minneapolis,. Minnesota, both without expense to the purchaser. Tha bonds will be delivered to the purchaser within forty days from the date of sale at the office designated by the purchaser within the continental United States at the expense of the Village, or elsewhere at the purchaser's expense, accompanied by an unqualified approving legal opinion and customary final delivery papers, including a certificate showing absence of litigation. All bids must be in writing enclosed in a sealed envelope, suitably marked as a bid for bonds, be unconditional except as to the above opinion, specify one or more rates of interest in integral multiples of 5/100 of one per cent and be, delivered or mailed for delivery and received prior to the above time, accompanied by a certified check, bank draft or cashier!s check in the amount of at least two per cent of the principal amount of the bonds, payable to the order of the Village, to be forfeited as liquidated. damages in event the bid is accepted and the bidder fails to comply therewith. Split rate bids may be submitted, but only one rate of interest from date of issue to maturity shall be specified for any bond, not exceeding 7% per annum and in an integral above provided. Extra coupon bids will not be considered. The purchase price for the issue shall be specified in each bid in an amount not less than $590,000 plus accrued interest on the entire principal amount of bonds. The, bid offerin~ the lowest net interest cost will, be deemed the most favorable. Bids providing a total net interest cost greater than. $123,900 .(7% per annum on $590,000 to maturity) will not. be considered. Net interest cost will be computed by adding the amount of any discount ( $6 0 0 , 0 0 0 less amount of purchase price) to, or subtracting the amount of any premium