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<br /> r f <br /> L . <br />.. " <br /> . <br /> at a price of $1,209,023.00 plus accrued interest. Said bid is hereby <br /> found to be the best bid, providing an average annual net interest <br /> cost not exceeding 7% on $1,200,000 to maturity. The bonds shall be <br /> numbered serially from 1 upwards and shall be in the following <br /> denomination(s) : <br /> Serial Numbers Denomination <br /> 1 - 240 $5,000.00 <br /> 2. Pursuant to Section 429.091, Subdivision 3, Minnesota <br /> Statutes, as amended, the City shall forthwith issue its Temporary <br /> Water Improvement Bonds of 1975, in an aggregate principal amount <br /> of $1,220,000, dated April 1, 1975, to bear interest as above set <br /> forth, payable October 1, 1975 and semiannually thereafter on <br /> April 1 and October 1 until maturity, and to mature on April 1, <br /> 1978, all bonds being subject to redemption and prior payment at <br /> the option of the City at any time on or after October 1, 1977 at <br /> pat and accrued interest, to pay the cost of Improvement No. 75-2, <br /> consisting of an elevated storage tank, distribution water mains <br /> and appurtenances thereto, in the City under Chapter 429, Minnesota <br /> Statutes. <br /> 3. Both principal and interest shall be payable at the ~ <br /> main office of B8.!il.I!!N8~Llm"'i:)e- N..,+~wc.t...,~ "'!'f. f!,..,k C1~ /11: WHoCI.rof,'I, . <br /> in Minneapol~ , Minnesota, and the City shal pay the reasonab e <br /> charges of said bank for its services as paying agent. <br /> 4. The bonds and the interest coupons to be thereto <br /> attached shall be in substantially the following form: <br />