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<br /> , <br /> ~ <br /> '. <br /> Split rate bids may be submitted without limitation as to <br /> number of rates, but bids shall state one rate of interest from the <br /> date of issue to maturity for all bonds having a common maturity <br /> date. Extra coupon bids will not be considered. The rate for each <br /> bond must be in a multiple of 5/100 of one percent per annum, and <br /> no rate may exceed 7% per annum. The interest rate specified for <br /> the bonds of any maturity shall not be less than the rate specified <br /> for any prior maturity. The bid offering the lowest net interest <br /> cost will be deemed the most favorable. Net interest cost will be <br /> computed by adding the amount of any discount ($660,000 less amount <br /> of purchase price) to, or subtracting the amount of any premium <br /> (excess of purchase price over $660,000) from, the total interest <br /> coupons from date of the bonds to stated maturities. <br /> If, within three working days after the award of the Bonds, <br /> the purchaser in writing requests that CUSIP identification numbers <br /> be printed on the Bonds and agrees to be responsible for the CUSIP <br /> Service Bureau charge for the assignment of said numbers, they will <br /> be printed on the Bonds, but neither the failure to print such <br /> number on any Bond nor any error with respect thereto shall con- <br /> stitute cause for failure or refusal by the purchaser to accept <br /> delivery of the Bonds. <br /> Bidders are asked but not required to state total and <br /> rate of average annual net interest cost. Oral auction bids will <br /> not be received. The right to waive any informality and the right <br /> to reject any and all bids are reserved. <br /> BY ORDER OF THE CITY COUNCIL <br /> Vernon Pederson <br /> City Clerk <br /> 803 - 5th Avenue N.W. <br /> New Brighton, Minnesota <br /> Further information may be <br /> obtained from: <br /> Mr. Perry Copeland <br /> 806 W. County Road D <br /> Suite 132 <br /> New Brighton, Minnesota 55112 <br /> (612) 633-9326 <br />