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TYPE OF BID: Sealed bids of not less than <br />• $733,825 and accrued interest on <br />the principal sum of $745,000 fram <br />date of the bonds to date of <br />delivery must be filed with the <br />City Clerk-Administrator prior to <br />the time of sale. Each bid must be <br />unconditional except as to <br />legality. A certified or cashier's <br />check in the amount of $14,900 <br />payable to the order of the City <br />Treasurer must accompany each bid, <br />to be forfeited as liquidated <br />damages if the company making the <br />bid fails to comply with the <br />accepted bid. Bids for the bonds <br />should be addressed to: <br />Mr. Dewan Barnes <br />City Clerk-Administrator <br />-City Hall <br />.Falcon Heights, Minnesota 55113 <br />C. <br />Bids delivered to Ehlers,a.nd <br />Associates, Inc. , by 4:30 0' clock <br />P.M. on the day of sale will be <br />carried to the sale and the bid <br />security will be retained in the <br />offices of Ehlers and Associates, <br />Inc., with the same effect as if <br />delivered to the City <br />.Clerk-Admninistrator. <br />RATES: _ All rates must be in integral <br />multiples of 1/20th or 1/8th of l$ <br />and may not exceed the maximum rate <br />permitted by-law. No limitation is <br />placed upon the number of rates <br />which may. be used. All rates shall <br />be in ascending order. <br />AWARD: Award will be made solely on the <br />basis of lowest net interest cost, <br />determined by addition of any dis- <br />count to and deduction of any- <br />. premium from the total interest on <br />all bonds from their date to their <br /> <br />