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''i.~ '" - i OFFICIAL NOTICE OF BOND SALE I I $435,000 , General Obligation Improvement Bonds of 1978 I City of New Brighton, Ramsey County, Minnesota i ( NOTICE is hereby given that the City of New Brighton, Minnesota, will receive sealed bids at the City Hall in said City on Tuesday, February 28, 1978, for the purchase of $435,000 General Obligation Improvement Bonds of 1978. The City Manager and the City Clerk will receive and open the bids at 2:00 o'clock P.M. and the City Council will meet at 8:00 o'clock P.M. to award the sale of the bonds. The bonds will be dated February 1, 1978, will bear interest payable August 1, 1978 and semiannually thereafter on February 1 and August 1 at the rate or rates desig- nated by the successful bidder, and will mature serially on February 1 in the years and amounts as follows: $15,000 in 1979, and $30,000 in 1980 to 1993, all years inclusive, <all bonds maturing in the years 1988 to 1993, inclusive, being subject to redemption at the option of the City on February 1, 1987 and any interest payment date thereafter at par and accrued interest. The bonds are being issued pursuant to Chapter 429, Minnesota Statutes, to provide permanent financing for local improvements. Both principal and interest will be payable at any suitable bank recommended by the purchaser and approved by the Council, and the City will pay reasonable and customary charges for this service provided that such recommendation is received within 48 hours after the sale and the Council will select the paying agent if the recommendation is not approved. The bonds will be in the denomination of $5,000 each unless other denomina- tions are designated by the purchaser within 48 hours after the sale. The City will furnish printed bonds and approving legal opinion of Messrs. Faegre & Benson, Minneapolis, Minnesota, both without expense to the purchaser; at the option of the purchaser a copy of the legal opinion will be reproduced on the printed bonds. The City will assume no obligation for the assignment or printing of CUSIP numbers on the bonds or for the correctness of any numbers printed thereon, but will permit such printing to be done at the expense of the purchaser. The bonds will be delivered to the purchaser within 40 days from the date of sale, accompanied by an unqualified approving legal opinion and customary final delivery papers, including a certificate showing absence of litigation. Delivery will be made at the expense of the City against payment of the purchase price in immediately available funds at any office designated by the purchaser in the continental United States. All bids must be in writing and enclosed in a sealed envelope suitably marked as a bid for bonds, be unconditional except as to the above opinion, state one or more interest rates within the limitations prescribed below, and be delivered or mailed for delivery and received by the undersigned prior to the time of bid opening, accompanied by a certified check, bank draft or cashier's check in the amount of at least $8,700, payable to the order of the City, to be forfeited as liquidated damages in event the bid is accepted and the bidder fails to comply therewith. \