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<br />,05~11.99 16:48 <br /> <br />From-KENNEDY & GRAVEN <br /> <br />+61Z3379310 <br /> <br />T~525 P.12/17 F-614 <br /> <br />THE CITY HAS AUTHORIZED SPRINGST~O INCORPORATED TO NEGOTIATE THIS ISSUE <br />ON ITS BEHALF. PROPOSAlS WIll BE RECEIVED ON THE FOLLOWING BASIS: <br /> <br />TERMS OF PROPOSAl <br /> <br />~325JOOO <br />CITY OF NEW BRIGHTON, MINNESOTA <br />GENERAL OBLIGATION STORM WATER UTILITY REVENUE BONDS, SERIES 1999B <br /> <br />(aOOK I!NTRY ONLY) <br /> <br />Proposals for the Bands will be received on Tuesday, June 29, 1999, until 10:00 A.M., Central <br />Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite ,OQ, Saint Paul, <br />Minnesota, after which time they will be opened and tabulated. Consideration for award of the <br />BoncJs will be by the City Council at 5:30 P.M., Central Time, of the same day. <br /> <br />SUBMISSION OF PROPOSALS <br /> <br />Proposals may be submineCl in a sealect envelope or by fax (651) 223-3002 to Springsted. <br />Signed Proposals, without tinal price or cOLJpons, may be submittecJ to Springsted prior to the <br />time of sale. The bidder shall be responsiQle for submining to Springsted the final Proposal <br />price and coupons, by telephone (55') 223-3000 or fax (55') 223-3002 for inclusion in the <br />subminerJ Proposal. Springsted will assume no liaoility far 10e inability of the bicJder to reach <br />Spnngstea prior to the time of sale specified aoove. All bidders are advised that each Proposal <br />shall be cteemeClto constitute a contract between the bidoer and me City to purcnase the Sands <br />regardless of me manner of me PropOSal 5UOmiIteO. <br /> <br />DETAILS OF THE BONDS <br /> <br />The Bonds will be dated July 1, 1999, as the date of original issue, and will bear interest <br />payable on February 1 and August 1 of each year. commencing February 1, 2000. Interest will <br />be compl.ned on the basis of a 36D-aay year of twelve 3D-aay months. <br /> <br />The Bonds will mature February 1 in the years and amounts as follows: <br /> <br />2001 <br />2002 <br />2003 <br />2004 <br /> <br />$25,000 <br />$30,000 <br />$30,000 <br />$30;000 <br /> <br />2005 $30,000 <br />2006 $35,000 <br />2007 $35.000 <br /> <br />2008 $35,000 <br />2009 $35,000 <br />2010 $40,000 <br /> <br />BOOK ENTRY SYSTEM <br /> <br />The Bonds will be issued by means of a book entry system with no physical distribution of <br />Bonds made to the public. The Sands will be issued in fully registered form and one Bond, <br />representing the aggregate principal amount of the Bonds maturing in each year. WIll be <br />registerea in the name of Cede & Co. as nominee of The Depository Trust Company ("OTe"), <br />New Yom, New York, which will act as securities depository of the Bonds. Individual purchases <br />of the BondS may be maCle in the pnncipal amount of $5,000 or any multiple tnereof of a single <br />maturity Through book entries made on the bOOkS and recards of DTC and its participants. <br />Principal and imerest are payable by the registrar to OTe or its nominee as registered owner of <br />the Bonds. Transfer of principal and interest payments to participants of DTC will be the <br />responsibility of DTC; transfer of principal and interest payments to beneficial owners by <br />panicipants will be the responsibility of such participants and other nominees of beneficial <br />owners. The purchaser, as a condition of delivery of the Bonds, Will be require[j to deposit the <br />Bonds with OTe. <br /> <br />DJ!<-182B2.4 <br />NE13S'149 <br />