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<br /> , <br /> . <br /> ,.,,",<~';'/::<,j.:.:_~~,;;;~i;:;;.-. <br /> , <br /> The purchase price for the issue shall be specified in <br /> each bid in an amount not less than $435,000 plus accrued interest <br /> on the entire principal amount of bonds. <br /> Bids shall state one rate of interest from the date of <br /> issue to maturity for all bonds having a common maturity date. <br /> Not more than ten such rates are to be specified, and the maturities <br /> of the Bonds may be split not more than. ten ways for the purpose <br /> of designating such rates. Extra coupon bids will not be considered. <br /> The rate for any maturity shall not be lower than the rate for <br /> any prior maturity. The rate for each bond must be in an integral <br /> multiple of 5/100 of 1% per annum and not exceeding 7% per annum. <br /> The bid offering the lowest net interest cost will be deemed the <br /> most favorable. Net interest cost will be determined by adding <br /> the amount of any discount ($435,000 less amount of purchase <br /> price) to, or subtracting the amount of any premium (excess of <br /> purchase price over $435,000) from, the total interest coupons <br /> from the date of the bonds to stated maturities. Bidders are <br /> asked but not required to state the total and average annual net <br /> interest cost. Oral auction bids will not be received. The <br /> right to waive any informality and the right to reject any and <br /> all bids are reserved. <br /> BY ORDER OF THE CITY COUNCIL <br /> /s/ <br /> City Clerk <br /> City of New Brighton <br /> Further information may <br /> be obtained from: <br /> T. G. EVENSEN & ASSOCIATES, INC. <br /> 1910 First National Bank Building <br /> Minneapolis, Minnesota 55402 <br /> (612) 338-3535 <br /> - .-.-- -- <br />