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<br />OFFICIAL <br />NOTICE OF SALE <br /> <br />$650,000 Water Revenue Bonds of 1986 <br />City of New Brighton <br />Ramsey County, Minnesota <br /> <br />NOTICE IS HEREBY GIVEN that sealed bids for the above <br />bonds will be received by the undersigned until 1:00 <br />o'clock, P.M., Central Time, in the New Brighton City Hall <br />on Tuesday, July 22, 1986, when they will be opened. The <br />City Council will meet in the New Brighton City Hall at 7:30 <br />o'clock, P.M., Central Time, on the same day to consider the <br />bids for award of sale of $650,000, water revenue bonds of <br />the City on the following terms: <br /> <br />Purpose and Security <br /> <br />The purpose of the bonds is to provide funds for the <br />financing of various improvements of waterworks systems in <br />the City. The bonds will be general obligations of the <br />issuer for which its full faith and credit and taxing powers <br />will be pledged. <br /> <br />Date and Maturities <br /> <br />The bonds will be dated August 1, 1986, will be in <br />denomination of $5,000 each, or integral multiples thereof, <br />and will mature on February 1 in the following years and <br />amounts: <br /> <br />Year Amount Year Amount <br />1988 $ 30,000 1995 $ 45,000 <br />1989 30,000 1996 50,000 <br />1990 35,000 1997 55,000 <br />1991 35,000 1998 55,000 <br />1992 35,000 1999 60,000 <br />1993 40,000 2000 65,000 <br />1994 45,000 2001 70,000 <br /> Redemption Feature <br /> <br />All bonds of this issue maturing in the years 1994 <br />through 2001 will be subject to pr ior redemption at the <br />option of the City on February 1, 1993, and on any interest <br />payment date thereafter at a price of par plus accrued <br />interest to date of redemption. <br /> <br />- 3 - <br />