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02-100
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02-100
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7/13/2005 3:15:06 PM
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<br />i ~ >- <br /> <br />THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO <br />'NEGOTIATE THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED <br />ON THE FOLLOWING BASIS: <br /> <br />TERMS OF PROPOSAL <br /> <br />$3,170,000 <br />CITY OF NEW BRIGHTON, MINNESOTA <br />GENERAL OBLIGATION BONDS, SERIES 2003A <br /> <br />(BOOK ENTRY ONLY) <br /> <br />!: Proposals for the Bonds will be received on Tuesday, January 14,2003, until 11 :00 A.M., <br />, Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, <br />. Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration <br />: for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the <br />, same day. <br /> <br />SUBMISSION OF PROPOSALS <br /> <br />Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. <br />Signed Proposals, without final price or coupons, may be submitted to Springsted prior to <br />the time of sale. The bidder shall be responsible for submitting to Springsted the final <br />~ Proposal price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for <br />; inclusion in the submitted Proposal. Springsted will assume no liability for the inability of <br />. the bidder to reach Springsted prior to the time of sale specified above. All bidders are <br />advised that each Proposal shall be deemed to constitute a contract between the bidder and <br />: the City to purchase the Bonds regardless of the manner of the Proposal submitted. <br /> <br />DETAILS OF THE BONDS <br /> <br />The Bonds will be dated February 1, 2003, as the date of original issue, and will bear <br />, interest payable on February 1 and August 1 of each year, commencing August 1, 2003. <br />, Interest will be computed on the basis of a 360-day year of twelve 30-day months. <br /> <br />, The Bonds will mature February 1 in the years and amounts as follows: <br /> <br />2004 $215,000 2007 $295,000 2010 $310,000 2013 $340,000 <br />2005 , $295,000 2008 $300,000 2011 $325,000 2014 $160,000 <br />2006 i I $295,000 2009 $305,000 2012 $330,000 <br />Proposals for the Bonds may contain a maturity schedule providing for a combination of <br />; serial bonds and tenn bonds, provided that no serial bond may mature on or after the first <br />· mandatory sinking fund redemption date of any term bond. All tenn bonds shall be <br />, subject to mandatory sinking fund redemption and must conform to the maturity schedule <br />, set forth above at a price of par plus accrued interest to the date of redemption. In order to <br />. ; designate term bonds, the proposal must specify "Last Year of Serial Maturities" and <br /> <br />SJB-224114vl <br />NEI36!-184 <br />
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