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as liquidated damages if bidder <br />fails to comply with accepted <br />bid. Bids for the bonds should <br />be addressed to: <br />Dewan B. Barnes <br />City Clerk-Administrator <br />City Hall <br />164 West Larpenteur <br />Falcon Heights , Minnesota <br />RATES: A11 rates must be in .integral <br />multiples of 1/20th of I% and <br />may not exceed 7% per .annum. <br />Additional interest coupons <br />may .not be used. All bonds of <br />the same maturity must bear a <br />single uniform rate from date <br />of issue to maturity and nc rate. <br />of any maturity may be dower <br />than the highest rate applicable <br />to bonds of any preceding maturi- <br />ties. No limitation is placed <br />upon the number of rates which <br />may b e used . <br />AWARD: Award will be made solely on the <br />basis of lowest dollar interest <br />cost, determined by addition <br />of any discount to and deduction <br />of any premium from the total <br />interest on all bonds from their <br />date to their stated maturity. <br />The net effective average rate <br />of the issue may not exceed" 7`% per <br />annum. <br />-The Issuer reserves the right to reject any and all bids, to <br />waive informalities and to adjourn the sale. <br />Dated: April 25, 197. <br />BY ORDER THE CITY OUNCIL <br />9 <br />/s/ Dewan B. arnes <br />City C1_erk <br />• Additonal information <br />may be obtained from: <br />JURAN & MOODY, INC. <br />li4 East Seventh Street <br />St Paul., ~~2innesota 55101 <br />Telephone No. 612-224-9b61 <br /> <br />