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<br />~ <br /> <br />OFFICIAL <br />NOTICE OF BOND SALE <br /> <br />$1,330,000 <br />General Obligation Water Improvement Bonds of 1982 <br />City of New Brighton, Ramsey County, Minnesota <br /> <br />NOTICE is hereby given that the City of New Brighton, <br />Minnesota, will receive sealed bids at the City Hall in said City <br />at 11:30 A.M. on Tuesday, November 30, 1982, for the purchase of <br />$1,330,000 General Obligation Water Improvement Bonds of 1982. <br />The City Council will meet at 7:30 P.M. on said date to consider <br />bids received prior to 11:30 A.M. and to award the sale of the <br />bonds. The bonds will be dated December 1, 1982, will bear <br />interest payable August 1, 1983 and semiannually thereafter on <br />February 1 and August 1 of each year at the rate or rates <br />designated by the successful bidder, and will mature serially on <br />February 1 in the years and amounts as follows: <br /> <br />$25,000 in 1985, <br />$50,000 in 1986 to 1989, <br />$75,000 in 1990 and 1991, <br />$100,000 in 1992 to 1994, and <br />$125,000 in 1995 to 1998, <br />$155,000 in 1999, all years inclusive, <br />all bonds maturing in the years 1994 to 1999, inclusive, being <br />subject to redemption at the option of the City on February 1, <br />1993 and any interest payment date thereafter at par and accrued <br />interest. The bonds are being issued pursuant to Chapter 475, <br />Minnesota Statutes, to provide permanent financing for the costs <br />of constructing water wells and related facilities. <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 />of CUSIP numbers on the bonds or for the correctness of any <br /> <br />-3- <br />