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<br />~I~ <br /> <br />~ <br /> <br />j , <br /> <br />OFFICIAL <br />NOTICE OF BOND SALE <br /> <br />$425,000 <br />General Obligation Water Revenue 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 and consider sealed bids at the City Hall <br />in said City at 11:30 A.M. on Tuesday, April 13, 1982, for the <br />purchase of $425,000 General Obligation Water Revenue Bonds of <br />1982. The bonds will be dated May 1, 1982, will bear interest <br />payable February 1, 1983 and semiannually thereafter on February <br />1 and August 1 of each year at the rate or rates designated by <br />the successful bidder, and will mature serially on February 1 in <br />the years and amounts as follows: <br /> <br />$30,000 in 1984 <br />$35,000 in 1985 and 1986, <br />$40,000 in 1987, <br />$45,000 in 1988, <br />$50,000 in 1989, <br />$55,000 in 1990, <br />$65,000 in 1991, and <br />$70,000 in 1992, all years inclusive, <br /> <br />all bonds maturing in the years 1989 to 1992, inclusive, being <br />subject to redemption at the option of the City on February 1, <br />1988 and any interest payment date thereafter at par and accrued <br />interest. The bonds are being issued pursuant to Section 444.075, <br />Minnesota Statutes, to provide permanent financing for the costs <br />of constructing a well and related improvements to the City's <br />water system. <br /> <br />. <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 />