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Type of Proposal
<br />Proposals for not less than $477,800 plus accrued interest on the principal sum of $485,000 from date of
<br />original issue of the Bonds to date of delivery must be filed with the undersigned prior to the time of sale. Proposals
<br />must be submitted to Ehlers and Associates, Inc. either:
<br />1) In a sealed envelope to Ehlers and Associates, Inc as described herein;
<br />2) A facsimile submission to Ehlers and Associates, Inc., Financial Advisors, Facsimile Number: (612)
<br />339 -0854; or
<br />3) Electronically via PARITY, in accordance with PARITY Rules of Participation and this notice of sale, within
<br />a one -hour period prior to the time of sale, but no proposals will be received after the time established above
<br />for receiving proposals. If any provisions in this notice are conflicting with those PARITY Rules of
<br />Participation, this sale notice shall control. The normal fee for use of PARITY may be obtained from
<br />PARITY, and such fee shall be the responsibility of the bidder. For further information about PARITY,
<br />potential bidders may contact the financial advisor to the issuer, Ehlers and Associates, Inc., 2950 Norwest
<br />Center, 90 South Seventh Street, Minneapolis, Minnesota 55402, Telephone (612) 339 -8291, or PARITY
<br />at 100 - 116th Avenue SE, Suite 100, Bellevue, Washington 98004, Telephone (206) 635 -3545. The Issuer
<br />and Ehlers and Associates, Inc. assume no liability if there is a malfunction of PARITY.
<br />Proposals must be submitted to Ehlers and Associates, Inc. as described above and must be received prior
<br />to the time established above for the opening of proposals. Each proposal must be unconditional except as to legality.
<br />A good faith deposit (the "Deposit ") in the amount of $9,700, or a financial surety bond complying with the
<br />provisions below, must be submitted with each proposal. The Deposit must be in the form of a certified or cashiers
<br />check or bank draft or a wire transfer of funds to Resource Bank & Trust Company, of Minneapolis, Minnesota, ABA
<br />#09 -10- 0550 -6 for further credit to Ehlers and Associates, Inc, Bond Issue Escrow Account #850- 788 -1, Attn:Dawn
<br />Oberle. The Deposit will be retained by the City as liquidated damages if the proposal is accepted and the bidder fails
<br />to comply therewith. The Deposit will be returned to the Purchaser at the closing for the Bonds. Proposals for the
<br />Bonds should be addressed to:
<br />Joel Hanson
<br />City Administrator
<br />City Hall (Little Canada)
<br />515 Little Canada Rd.
<br />Little Canada, MN 55117
<br />If a financial surety bond is used, it must be from an insurance company licensed to issue such a bond in the
<br />State of Minnesota, and preapproved by the City. Such bond must be submitted to Ehlers and Associates, Inc. prior
<br />to the opening of the proposals. Such bond must identify each bidder whose deposit is guaranteed by such financial
<br />surety bond. If the Bonds are awarded to a bidder using a financial surety bond, then that purchaser is required to
<br />submit its Deposit to Ehlers and Associates, Inc. in the form of a certified or cashier's check or wire transfer as
<br />instructed by Ehlers and Associates, Inc. not later than 3:00 P.M., Central Time, on the next business day following
<br />the award. If such deposit is not received by that time, the financial surety bond may be drawn by the City to satisfy
<br />the deposit requirement. The City will deposit the check of the purchaser, the amount of which will be deducted at
<br />settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted
<br />proposal, said amount will be retained by the City. No proposal can be withdrawn after the time set for receiving
<br />proposals unless the meeting of the City scheduled for award of the Bonds is adjourned, recessed, or continued to
<br />another date without award of the Bonds having been made.
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