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THE AUTHORI-IY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE
<br />THIS ISSUE OM ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING
<br />BASIS:
<br />TERMS OF PROPOSAL.
<br />$3,500,000
<br />LINGO LAKES ECONOMIC DEVELOPMENT AUTHORITY, MINNESOTA
<br />LEASE REVENUE BONDS, SERIES 1997
<br />;CITY OF LINO LAKES, MINNESOTA LEASE OBLIGATION)
<br />(BOOK ENTRY ONLY)
<br />Proposals for tP. ?. Bonds will be received on Monday, November 10, 1997, until 11:00 A.M.,
<br />Central Time, at the offices of Springsted Incorporated, 85 Fast Seventh Place, Suite 100, Saint
<br />Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award
<br />of the Bonds wit. be by the Authority Board at 6:00 P.M., Central Time. of the same day.
<br />SUBMISSION OF PROPOSALS
<br />Proposals may 3e submitted in a sealed envelope or by fax (612) 223-3002 to Springsted.
<br />Signed Proposa'ss, without final price or coupons, may be submitted to Springsted prior to the
<br />time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal
<br />price and coup: ns, by telephone (612) 223-3000 or fax (612) 223-3002 for inclusion in the
<br />submitted Propcsal. Springsted will assume no liability for the inability of the bidder to reach
<br />Springsted prior to the time of sale specified above. Proposals may also be filed electronically
<br />via PARITY, in accordance with PARITY Rules of Participation and the Terms of Proposal,
<br />within a one-hour period prior to the time of sale established above, but no Proposals will be
<br />received after that time. If provisions in the Terms of Proposal conflict with the PARITY Rules
<br />of Participation, :he Terms of Proposal shall control. The normal fee for use of PARITY may be
<br />obtained from PARITY and such fee shall be the responsibility of the bidder. For further
<br />information about PARITY, potential bidders may contact PARITY at 500 Main Street,
<br />Suite 1010, Fa:: Worth, TX 76102, telephone (817) 885-8900. Neither the Authority nor
<br />Springsted Incoiporated assumes any liability if there is a malfunction of PARITY. All bidders
<br />are advised the each Proposal shall be deemed to constitute a contract between the bidder
<br />and the Authority/ to purchase the Bonds regardless of the manner of the Proposal submitted.
<br />DETAILS OF THE BONDS
<br />The Bonds will be dated Decernber 1, 1997, as the date of original issue. and will bear interest
<br />payable on Fet''uary 1 and August 1 of each year, commencing August 1, 1998. Interest will
<br />be computed on the basis of a 360 -day year of twelve 30 -day months.
<br />The Bonds will nature February 1 in the years and amounts as follows:
<br />2000 $70,000
<br />2001 555,000
<br />2002 $60,000
<br />2003 $70,000
<br />2004 $75,00C
<br />2005 $ 6C,000
<br />2006 $ 70,000
<br />2007 $ 80,000
<br />2008 $ 95,000
<br />2009 $105,000
<br />2010 $120,000
<br />2011 $230,000
<br />2012 $245,000
<br />2013 $260,000
<br />2014 5275,000
<br />2015 5290,000
<br />2016 $305,000
<br />2017 $325,000
<br />2018 5345.000
<br />2019 $365,000
<br />Proposals for the Bonds may contain a maturity schedule providing for a combination of serial
<br />bonds and term bonds, provided that no serial bond may mature on or after the first mandatory
<br />sinking fund re: emotion date of any term bond. Ail term bonds shall be subject to mandatory
<br />
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