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<br />05~11-99 16:48 <br /> <br />From-KENNEDY & GRAVEN <br /> <br />+6123379310 <br /> <br />T-525 P.12/17 F-614 <br /> <br />THE CITY HAS AUTHORIZED SPRINGSTI:D INCORPORATED TO NEGOnA TE THIS ISSUE <br />ON ITS BEHALF. PROPOSALS WIl.L BE RECEIVED ON THE FOLLOWING BASIS: <br /> <br />TERMS OF PROPOSAl <br /> <br />'325Jooa <br />CITY OF NEW BRIGHTON, MINNESOTA <br />GENERAL OBLIGATION STORM WATER UTILITY REVENUE BONDS, SERIES 1999B <br /> <br />(BOOK t;NTRY ONLY) <br /> <br />Proposals for the Bonets will pe received on Tuesday, June 29, 1999. until 10:00 A.M., Central <br />Time. at the offices of $pringsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, <br />Minnesota. after which time they will be opened and tabulated. Consideration for award of the <br />Bonds 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 submined in a sealeCl envelope or by fax (651) 223-3002 to Springsted. <br />Signed Proposals, without final price or cOLlpons, may be sLlbmitteCJ to Springsted prior to tne <br />time of sale. The bidder shall be responsiQle for submitting to Springsted the final Proposal <br />price and coupons, by telephone (651) 223--3000 or fax (651) 223.3002 for inclusion in the <br />suDmiUeQ proposal. Springsted will assume no liaoility for me inability of the biC1cler to reach <br />Spnl'lgsteCl prior to tne time of sale specifiect aDove. All bidders are aavised that each Proposal <br />shall be aeemect to constitute a contract between the Didoer ana me City to purcnase the Banas <br />regardless of me manner at the Proposal SlJOmittec1. <br /> <br />PET AILS OF THE BONOS <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 computed on the Oasis of a 36(}.Clay year of twelve 30.C1ay months. <br /> <br />Tne Bonos will mature FebflJary 1 in the years ana amounts as follows: <br /> <br />.2001 $25,000 <br />2002 $30,000 <br />2003 $30,000 <br />2004 $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 physicaJ distriblJtion of <br />Bonds made to the public. The aonds will be iSSued in fully registered form and one Bond, <br />representing the aggregate plincipal amount of me Bonds maturing in eaCh year, WIll be <br />registered in the name af Cede & Co. as nominee of The Depository .rust Company ("OTC"), <br />New York, New York, which will act as securities depository of the Bonds. Individual purchases <br />of the Bonds may be Olaoe in tne pr.ncipal amoLlnt of $5,000 or any multiple mereof of a single <br />maturity tnrough Pook entries made on the bOOkS and records of OTe and its participants. <br />Principal and interest are payable by the regi~trar to DTC or its nominee as registered owner of <br />the BondS. Transfer of principal and imerest payments to panicipams of OTC will be the <br />responsibility of OTe; 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 required to deposit the <br />Bonds with OTC. <br /> <br />DJj(-162B24 <br />Nf13B'149 <br />