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<br />REGISTRAR <br /> <br />The Ci will name the registrar, which shall be subject to applicable SEC regulations. The City <br />will pa or the services of the registrar. <br /> <br />OPTIONAL REDEMPTION <br /> <br />The Ci <br />after F <br />City <br />called <br />prepai <br />be red <br />such m <br /> <br /> <br />may elect on February 1, 2017, and on any day thereafter, to prepay Bonds due on or <br />ruary 1, 2018. Redemption may be in whole or in part and if in part at the option of the <br />in such mmmer as the City shall determine. If less than all Bonds of a maturity are <br />r redemption, the City will notify DTC of the particular amount of such maturity to be <br />DTC will determine by lot the amount of each participant's interest in such maturity to <br />med and each participant will then select by lot the beneficial ownership interests in <br />ity to be redeemed. All prepayments shall be at a price of par plus accrued interest. <br /> <br />SECURITY AND PURPOSE <br /> <br />ds will be general obligations of the City for which the City will pledge its full faith and <br />d power to levy direct general ad valorem taxes. In addition, the City will pledge tax <br />t revenues from Tax Increment Financing District No. 31. The proceeds will be used to <br />land acquisition, demolition and remediation efforts within the City's Northwest <br />t redevelopment area. <br /> <br />TYPE OF PROPOSALS <br /> <br />Propos <br />amoun <br />the fo <br />'payab <br />Finane <br />bond i <br />Spring <br />identi <br />Bonds <br />requir <br />check <br />Time, <br />the Fi <br />Depos <br />interes <br />fails t <br />propo <br />meeti <br />anoth <br />of 5/1 <br />shall <br />propo <br /> <br /> <br />s shall be for not less than $20,419,050 and accrued interest on the total principal <br />of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in <br />of a certified or cashier's check or a Financial Surety Bond in the amount of $207,300, <br />to the order of the City. If a check is used, it must accompany the proposal. If a <br />Surety Bond is used, it must be from an insurance company licensed to issue such a <br />the State of Minnesota, and preapproved by the City. Such bond must be submitted to <br />ed Incorporated prior to the opening of the proposals. The Financial Surety Bond must <br />each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If the <br />e awarded to an underwriter using a Financial Surety Bond, then that purchaser is <br />to submit its Deposit to Springsted Incorporated in the form of a certified or cashier's <br />wire transfer as instructed by Springsted Incorporated not later than 3 :30 P.M., Central <br />the next business day following the award. If such Deposit is not received by that time, <br />cial Surety Bond may be drawn by the City to satisfy the Deposit requirement. The <br />received from the purchaser, the amount of which will be deducted at settlement and no <br />will accrue to the purchaser, will be deposited by the City. In the event the purchaser <br />comply with the accepted proposal, said amount will be retained by the City. No <br />can be withdrawn or amended after the time set for receiving proposals unless the <br />of the City scheduled for award of the Bonds is adjourned, recessed, or continued to <br />date without award of the Bonds having been made. Rates shall be in integral multiples <br />or 1/8 of I %. Rates must be in level or ascending order. Bonds of the same maturity <br />ar a single rate from the date of the Bonds to the date of maturity. No conditional <br />s will be accepted. <br /> <br />I I <br />