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<br />~ <br />'r':.,~ <br /> <br />, <br />.0,..-'-.. <br /> <br />.. <br /> <br />'i7' -=" <br /> <br />'t <br /> <br />The purchase price for the issue shall be specified in <br />each bid in an amount not less than $452,000 plus accrued interest <br />on the entire principal amount of bonds. <br /> <br />Bids shall state one rate of interest from the date of <br />issue to maturity for all bonds having a common maturity date. <br />There is no other limit on the number of such rates which may be <br />specified. Extra coupon bids. will not be considered. The rate <br />for any maturity shall not be lower than the rate for any prior <br />maturity. The rate for each bond must be in an integral multiple <br />of 5/100 of 1% per annum and not exceeding the maximum rate <br />permitted by law at the time of sale. The bid offering the <br />lowest net interest cost will be deemed the most favorable. Net <br />interest cost will be determined by adding the amount of any . <br />discount ($460,000 less amount of purchase price) to, or subtract- <br />ing the amount of any premium (excess of purchase price over <br />$460,000) from, the total interest coupons from the date of the <br />bonds to stated maturities. Bidders are asked but not required <br />to state the total and average annual net interest cost. Oral <br />auction bids will not be received. The right to waive any infor- <br />mality and the right to reject any and all bids are reserved. <br /> <br />. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />Is/ <br />City Clerk <br />City of New Brighton <br /> <br />Further information may <br />be obtained from: <br /> <br />EVENSEN-DODGE, INC. <br />1900 Midwest Plaza Building <br />Minneapolis, Minnesota 55402 <br />(612) 338-3535 <br /> <br />-2- <br />