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05-11-99 16:46 From-KENNEDY & GRAVEN +6123379310 T-525 P,04/17 F-614 THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: TEAMS OF PROPOSAL $3,725,000 CITY OF NEW BRIGHTON, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1999A (BOOK ENTRY ONLY) Proposals for the Bonds wIll be received on Tuesday, June 29, 1999, until 10:00 AM., Central Time, at the offices of Springsted Incorporatecf, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award of the Bonds will be by the City COuncil at 5:30 P.M., Central Time, of the same day. SUBMISSION OF PROPOSALS Proposals may be submined in a sealed envelope or by fax (651) 223-3002 to SpringsteQ. Signed Proposals, without final pnce or coupons, may be submitted to Springsted prior to the time of sale. The bidder shatl be responsible for submitting to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax (651) 223-3002 for inclLlsion in the subrnined Proposal. Springstea will assume no liability for the inability of the bidder to reach Springstea prior to the time of sare specified above. All bidders are aell/isea that each Proposal shall be deemed to constit...te a contract between the bideler and the City to purchase the Banas regardless of the manner of the Proposal SubmiJted. PET AILS OF THE BONOS The Bonds will be dated July 1, 1999, as th(3 date of original issue, ana will bear interest payable on February 1 and August 1 of each year, commencing February 1, 2000. Interest will be computed on the basis af a 360-day year of twelve 30-Qay months. The Bonds will mature February 1 in the years and amounts as fOllows: 2001 $300,000 2005 $370,000 2002 $350,000 2006 $380,000 2003 $355,000 2007 $390,000 2004 $:365,000 2008 $400,000 2009 $410,000 2010 $405,000 BOOK ENTRY SYSTEM The Bonds will De issued by means of a book. entry system with no physical distribution of Bonds made to the pLlblic. The Bonds will be issued in fully registered form and one Bond, representing the aggregate principal amount of the Banas maturing in each year, WIll be registered in the name of Ceae & Co. as nominee of The Depository Trust Company ("DTC"), New York, New York, Which will act as securities depository of the Bonds. Indi"idLlal purChases of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book. entries made on the bOOkS and records of OTe and its particIpants. Principal and Interest are payable by the registrar to DTC or its nominee as registered owner of the Sands. Transfer of principal and interest payments to participants of DTC will be the responsibility of OTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial DJK-162659 NE136-149