|
THE AUTHORITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE
<br />THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING
<br />BASIS:
<br />TERMS OF PROPOSAL
<br />$3,500,000
<br />LINO 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 the Bonds will be received on Monday, November 10, 1997, until 11:00 A.M.,
<br />Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint
<br />Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award
<br />of the Bonds will be by the Authority Board at 6:00 P.M., Central Time, of the same day.
<br />SUBMISSION OF PROPOSALS
<br />Proposals may be submitted in a sealed envelope or by fax (612) 223-3002 to Springsted.
<br />Signed Proposals, 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 coupons, by telephone (612) 223-3000 or fax (612) 223-3002 for inclusion in the
<br />submitted Proposal. 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, the 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, Fort Worth, TX 76102, telephone (817) 885-8900. Neither the Authority nor
<br />Springsted Incorporated assumes any liability if there is a malfunction of PARITY. All bidders
<br />are advised that 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 December 1, 1997, as the date of original issue, and will bear interest
<br />payable on February 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 mature February 1 in the years and amounts as follows:
<br />2000 $70,000
<br />2001 $55,000
<br />2002 $60,000
<br />2003 $70,000
<br />2004 $75,000
<br />2005 $ 60,000
<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 $275,000
<br />2015 $290,000
<br />2016 $305,000
<br />2017 $325,000
<br />2018 $345,000
<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 redemption date of any term bond. All term bonds shall be subject to mandatory
<br />-i-
<br />
|