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<br />
<br />OFFICIAL
<br />NOTICE OF BOND SALE .
<br />
<br />$2,050,000
<br />General Obligation Refunding Improvement Bonds of 1983
<br />City of New Brighton, Ramsey County, Minnesota
<br />
<br />NOTICE is hereby given that the City of New Brighton,
<br />Minnesota, will receive and open sealed bids at the City Hall in
<br />said City at 11:00 A.M. on Wednesday, April 27, 1983, for the
<br />purchase of $2,050,000 General Obligation Refunding Improvement
<br />Bonds of 1983, subject to adjustment of the principal amount as
<br />described below. The City Council will meet at 5:00 P.M.,
<br />Central Time, the same day for the purpose of considering the
<br />bids and awarding the sale thereof. The bonds will be dated May 1,
<br />1983, will bear interest payable February 1, 1984 and semiannually
<br />thereafter on February 1 and August 1 of each year at the rate or
<br />rates designated by the successful bidder, and, subject to
<br />adjustment as described below, will mature serially on February 1
<br />in the years and amounts as follows:
<br />
<br />$ 80,000 in 1985, $165,000 in 1993,
<br />190,000 in 1986, 140,000 in 1994,
<br />190,000 in 1987, 110,000 in 1995,
<br />185,000 in 1988, 110,000 in 1996,
<br />180,000 in 1989, 80,000 in 1997,
<br />175,000 in 1990, 55,000 in 1998, and
<br />170,000 in 1991, 50,000 in 1999,
<br />170,000 in 1992,
<br />
<br />all bonds maturing in the years 1990 to 1999, inclusive, being
<br />subject to redemption at the option of the City on February 1,
<br />1989 and any interest payment date thereafter at par and accrued
<br />interest. The bonds are being issued pursuant to Section 475.67,
<br />Minnesota Statutes, to refund in advance of maturity all of the
<br />City's $1,990,000 General Obligation Improvement Bonds of 1982.
<br />
<br />Both principal and interest will be payable at any
<br />suitable bank recommended by the purchaser and approved by the
<br />Council, and the City will pay reasonable and customary charges
<br />for this service provided that such recommendation is received
<br />within 48 hours after the sale and the Council will select the
<br />paying agent if the recommendation is not approved. The bonds
<br />will be in the denomination of $5,000 each unless other denomi-
<br />nations are designated by the purchaser within 48 hours after the
<br />sale. The City will furnish printed bonds and approving legal
<br />opinion of Faegre & Benson, Minneapolis, Minnesota, both without
<br />expense to the purchaser; at the option of the purchaser a copy
<br />of the legal opinion will be reproduced on the printed bonds.
<br />The City will assume no obligation for the assignment or printing
<br />
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